1,062 Shares in Applied Industrial Technologies, Inc. $AIT Purchased by Vident Advisory LLC

Key Points

• Vident Advisory LLC has acquired 1,062 shares of Applied Industrial Technologies, Inc. valued at approximately $239,000 during the first quarter, reflecting a growing interest from institutional investors.
• Applied Industrial Technologies reported $2.80 EPS in its latest earnings, exceeding analysts' estimates of $2.60, with revenue reaching $1.22 billion, a year-over-year increase of 5.5%.
• Six analysts currently give the stock a Buy rating, and its average price target is set at $285.00, indicating positive market sentiment and potential upside.

Vident Advisory LLC purchased a new position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 1,062 shares of the industrial products company's stock, valued at approximately $239,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. MassMutual Private Wealth & Trust FSB boosted its position in Applied Industrial Technologies by 51.2% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 130 shares of the industrial products company's stock worth $29,000 after acquiring an additional 44 shares during the last quarter. Harbor Investment Advisory LLC boosted its position in Applied Industrial Technologies by 97.5% during the first quarter. Harbor Investment Advisory LLC now owns 160 shares of the industrial products company's stock worth $36,000 after acquiring an additional 79 shares during the last quarter. Wayfinding Financial LLC acquired a new position in Applied Industrial Technologies during the first quarter worth about $38,000. Opal Wealth Advisors LLC acquired a new position in Applied Industrial Technologies during the first quarter worth about $41,000. Finally, SVB Wealth LLC acquired a new position in Applied Industrial Technologies in the 1st quarter valued at about $48,000. 93.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

AIT has been the topic of several recent analyst reports. Industrial Alliance Securities set a $290.00 target price on shares of Applied Industrial Technologies in a report on Friday, August 22nd. Raymond James Financial lowered shares of Applied Industrial Technologies from an "outperform" rating to a "market perform" rating in a report on Friday, August 15th. Oppenheimer raised their target price on Applied Industrial Technologies from $290.00 to $300.00 and gave the stock an "outperform" rating in a research note on Friday, August 15th. Wall Street Zen raised Applied Industrial Technologies from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Finally, Bank of America raised their target price on Applied Industrial Technologies from $275.00 to $290.00 and gave the stock a "buy" rating in a research note on Friday, August 22nd. Six analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, Applied Industrial Technologies currently has an average rating of "Moderate Buy" and a consensus price target of $285.00.

Insider Activity at Applied Industrial Technologies

In related news, VP Jason W. Vasquez sold 7,466 shares of Applied Industrial Technologies stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $260.08, for a total value of $1,941,757.28. Following the completion of the transaction, the vice president directly owned 14,491 shares in the company, valued at approximately $3,768,819.28. This trade represents a 34.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Neil A. Schrimsher sold 26,671 shares of Applied Industrial Technologies stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $262.46, for a total value of $7,000,070.66. Following the completion of the transaction, the chief executive officer owned 149,735 shares of the company's stock, valued at approximately $39,299,448.10. This trade represents a 15.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 42,660 shares of company stock worth $11,217,980. Company insiders own 1.67% of the company's stock.

Applied Industrial Technologies Stock Performance

Shares of AIT stock opened at $261.66 on Wednesday. The firm has a market cap of $9.88 billion, a P/E ratio of 25.86, a P/E/G ratio of 2.81 and a beta of 1.00. Applied Industrial Technologies, Inc. has a one year low of $191.31 and a one year high of $282.98. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.36 and a current ratio of 3.32. The firm's 50 day moving average price is $262.48 and its 200-day moving average price is $240.46.

Applied Industrial Technologies (NYSE:AIT - Get Free Report) last released its earnings results on Thursday, August 14th. The industrial products company reported $2.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.60 by $0.20. The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.18 billion. Applied Industrial Technologies had a net margin of 8.61% and a return on equity of 21.78%. The firm's quarterly revenue was up 5.5% on a year-over-year basis. During the same period in the prior year, the business earned $2.64 EPS. Applied Industrial Technologies has set its FY 2026 guidance at 10.000-10.75 EPS. As a group, equities research analysts predict that Applied Industrial Technologies, Inc. will post 9.9 EPS for the current year.

Applied Industrial Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were issued a $0.46 dividend. The ex-dividend date was Friday, August 15th. This represents a $1.84 dividend on an annualized basis and a yield of 0.7%. Applied Industrial Technologies's dividend payout ratio (DPR) is 18.18%.

About Applied Industrial Technologies

Applied Industrial Technologies, Inc distributes industrial motion, power, control, and automation technology solutions in North America, Australia, New Zealand, and Singapore. It operates in two segments, Service Center Based Distribution, and Engineered Solutions. The company distributes bearings, power transmission products, engineered fluid power components and systems, specialty flow control solutions, advanced automation products, industrial rubber products, linear motion components, automation solutions, tools, safety products, oilfield supplies, and other industrial and maintenance supplies; and motors, belting, drives, couplings, pumps, hydraulic and pneumatic components, filtration supplies, valves, fittings, process instrumentation, actuators, and hoses, filtration supplies, as well as other related supplies for general operational needs of customers' machinery and equipment.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.