Jefferies Financial Group Inc. Takes Position in Applied Industrial Technologies, Inc. $AIT

Jefferies Financial Group Inc. bought a new position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 2,232 shares of the industrial products company’s stock, valued at approximately $755,000.

Other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new stake in shares of Applied Industrial Technologies during the 4th quarter worth about $125,044,000. Thrivent Financial for Lutherans grew its stake in Applied Industrial Technologies by 1,628.7% in the 4th quarter. Thrivent Financial for Lutherans now owns 196,946 shares of the industrial products company’s stock valued at $50,570,000 after buying an additional 185,553 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in Applied Industrial Technologies by 40.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 21,572 shares of the industrial products company’s stock valued at $5,539,000 after buying an additional 6,254 shares during the last quarter. Hillsdale Investment Management Inc. raised its holdings in Applied Industrial Technologies by 29.0% in the 1st quarter. Hillsdale Investment Management Inc. now owns 17,800 shares of the industrial products company’s stock valued at $4,723,000 after acquiring an additional 4,000 shares during the period. Finally, Van Hulzen Asset Management LLC bought a new position in Applied Industrial Technologies in the 2nd quarter valued at about $2,341,000. 93.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Oppenheimer raised their price objective on shares of Applied Industrial Technologies from $350.00 to $390.00 and gave the stock an “outperform” rating in a research report on Friday, August 14th. Mizuho lifted their price target on Applied Industrial Technologies from $355.00 to $400.00 and gave the stock an “outperform” rating in a report on Friday, August 14th. Bank of America boosted their price target on Applied Industrial Technologies from $380.00 to $390.00 and gave the company a “buy” rating in a research note on Friday, August 14th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Applied Industrial Technologies in a report on Tuesday, July 21st. Finally, DA Davidson upped their price objective on Applied Industrial Technologies from $380.00 to $400.00 and gave the company a “buy” rating in a report on Friday, August 14th. Seven equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $400.00.

Insider Buying and Selling

In other Applied Industrial Technologies news, CFO David K. Wells sold 1,812 shares of Applied Industrial Technologies stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $355.10, for a total value of $643,441.20. Following the completion of the transaction, the chief financial officer directly owned 32,050 shares of the company’s stock, valued at $11,380,955. The trade was a 5.35% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Peter C. Wallace sold 1,904 shares of the company’s stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $340.45, for a total value of $648,216.80. Following the sale, the director owned 22,859 shares of the company’s stock, valued at approximately $7,782,346.55. The trade was a 7.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 7,561 shares of company stock valued at $2,560,085 over the last 90 days. 1.60% of the stock is owned by corporate insiders.

Applied Industrial Technologies Price Performance

Shares of Applied Industrial Technologies stock opened at $321.09 on Monday. Applied Industrial Technologies, Inc. has a twelve month low of $238.34 and a twelve month high of $374.80. The company has a quick ratio of 1.75, a current ratio of 2.58 and a debt-to-equity ratio of 0.14. The company has a 50-day simple moving average of $340.60 and a two-hundred day simple moving average of $308.29. The stock has a market capitalization of $11.78 billion, a price-to-earnings ratio of 29.30, a price-to-earnings-growth ratio of 2.59 and a beta of 0.84.

Applied Industrial Technologies (NYSE:AIT) last announced its earnings results on Thursday, August 13th. The industrial products company reported $3.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.92 by $0.25. Applied Industrial Technologies had a net margin of 8.35% and a return on equity of 22.17%. The firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same quarter in the prior year, the business posted $2.80 EPS. The business’s revenue was up 10.5% compared to the same quarter last year. Applied Industrial Technologies has set its FY 2027 guidance at 11.650-12.150 EPS. Analysts forecast that Applied Industrial Technologies, Inc. will post 11.95 EPS for the current year.

Applied Industrial Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Friday, August 14th will be paid a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Friday, August 14th. Applied Industrial Technologies’s payout ratio is 18.61%.

Applied Industrial Technologies Company Profile

Applied Industrial Technologies, listed on the New York Stock Exchange under the symbol AIT, is a leading distributor of industrial products and services. The company offers a comprehensive range of bearings, power transmission components, fluid power products, industrial rubber products, and automation solutions. Through its network of distribution centers and branch locations, Applied Industrial Technologies serves diverse end markets including manufacturing, oil and gas, mining, food and beverage, and wastewater treatment.

Founded in 1923 and headquartered in Cleveland, Ohio, Applied Industrial Technologies has grown through a combination of organic expansion and strategic acquisitions.