Vident Advisory LLC Acquires New Shares in Applied Industrial Technologies, Inc. $AIT

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 bought a new stake in shares of Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 1,062 shares of the industrial products company's stock, valued at approximately $239,000.

Several other hedge funds also recently modified their holdings of AIT. Bank of America Corp DE boosted its position in shares of Applied Industrial Technologies by 8.1% during the fourth quarter. Bank of America Corp DE now owns 257,568 shares of the industrial products company's stock valued at $61,680,000 after buying an additional 19,304 shares during the last quarter. Baird Financial Group Inc. boosted its position in shares of Applied Industrial Technologies by 2.5% during the fourth quarter. Baird Financial Group Inc. now owns 1,588 shares of the industrial products company's stock valued at $380,000 after buying an additional 39 shares during the last quarter. Ethic Inc. boosted its position in shares of Applied Industrial Technologies by 12.9% during the fourth quarter. Ethic Inc. now owns 2,047 shares of the industrial products company's stock valued at $490,000 after buying an additional 234 shares during the last quarter. Focus Partners Wealth purchased a new position in shares of Applied Industrial Technologies during the fourth quarter valued at approximately $307,000. Finally, Gotham Asset Management LLC boosted its position in shares of Applied Industrial Technologies by 120.2% during the fourth quarter. Gotham Asset Management LLC now owns 3,950 shares of the industrial products company's stock valued at $946,000 after buying an additional 2,156 shares during the last quarter. Hedge funds and other institutional investors own 93.52% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Robert W. Baird lifted their target price on Applied Industrial Technologies from $265.00 to $300.00 and gave the company an "outperform" rating in a research report on Friday, August 15th. Industrial Alliance Securities set a $290.00 target price on Applied Industrial Technologies in a research report on Friday, August 22nd. Bank of America lifted their price target on Applied Industrial Technologies from $275.00 to $290.00 and gave the stock a "buy" rating in a report on Friday, August 22nd. Oppenheimer lifted their price target on Applied Industrial Technologies from $290.00 to $300.00 and gave the stock an "outperform" rating in a report on Friday, August 15th. Finally, Raymond James Financial lowered Applied Industrial Technologies from an "outperform" rating to a "market perform" rating in a report on Friday, August 15th. Six equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $285.00.

Applied Industrial Technologies Stock Performance

Applied Industrial Technologies stock traded down $0.67 during mid-day trading on Monday, reaching $262.52. 174,600 shares of the company's stock were exchanged, compared to its average volume of 200,452. The firm has a market capitalization of $9.91 billion, a PE ratio of 25.94, a P/E/G ratio of 2.78 and a beta of 1.00. The business's fifty day simple moving average is $264.04 and its 200 day simple moving average is $240.91. The company has a quick ratio of 2.36, a current ratio of 3.32 and a debt-to-equity ratio of 0.31. Applied Industrial Technologies, Inc. has a one year low of $199.96 and a one year high of $282.98.

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

Applied Industrial Technologies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were paid a $0.46 dividend. The ex-dividend date was Friday, August 15th. This represents a $1.84 annualized dividend and a dividend yield of 0.7%. Applied Industrial Technologies's payout ratio is presently 18.18%.

Insider Buying and Selling at Applied Industrial Technologies

In other Applied Industrial Technologies news, CEO Neil A. Schrimsher sold 26,671 shares of the business's stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $262.46, for a total value of $7,000,070.66. Following the sale, the chief executive officer directly owned 149,735 shares in the company, valued at $39,299,448.10. The trade was a 15.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Jason W. Vasquez sold 7,466 shares of the business's stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $260.08, for a total value of $1,941,757.28. Following the completion of the sale, the vice president owned 14,491 shares in the company, valued at approximately $3,768,819.28. The trade was a 34.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 42,660 shares of company stock worth $11,217,980 over the last ninety days. 1.60% of the stock is currently owned by company insiders.

Applied Industrial Technologies Profile

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.