4,121 Shares in Applied Industrial Technologies, Inc. $AIT Purchased by AlphaQuest LLC

Key Points

• AlphaQuest LLC acquired 4,121 shares of Applied Industrial Technologies, worth approximately $958,000, marking a significant institutional investment in the company.
• Several other investors, including GAMMA Investing LLC and First Horizon Advisors Inc., also increased their holdings in Applied Industrial Technologies during the second quarter.
• Wall Street analysts have mixed views on the stock, with ratings ranging from "outperform" to "hold," and an average price target set at $285.00.

AlphaQuest LLC purchased a new position in Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 4,121 shares of the industrial products company's stock, valued at approximately $958,000.

Other large investors also recently bought and sold shares of the company. GAMMA Investing LLC raised its holdings in shares of Applied Industrial Technologies by 2.9% during the second quarter. GAMMA Investing LLC now owns 1,453 shares of the industrial products company's stock valued at $338,000 after acquiring an additional 41 shares during the last quarter. First Horizon Advisors Inc. raised its holdings in shares of Applied Industrial Technologies by 31.1% during the first quarter. First Horizon Advisors Inc. now owns 215 shares of the industrial products company's stock valued at $48,000 after acquiring an additional 51 shares during the last quarter. Ritholtz Wealth Management raised its holdings in shares of Applied Industrial Technologies by 0.3% during the second quarter. Ritholtz Wealth Management now owns 15,526 shares of the industrial products company's stock valued at $3,609,000 after acquiring an additional 53 shares during the last quarter. Contravisory Investment Management Inc. raised its holdings in shares of Applied Industrial Technologies by 9.9% during the second quarter. Contravisory Investment Management Inc. now owns 645 shares of the industrial products company's stock valued at $150,000 after acquiring an additional 58 shares during the last quarter. Finally, Focus Partners Wealth raised its holdings in shares of Applied Industrial Technologies by 4.5% during the first quarter. Focus Partners Wealth now owns 1,341 shares of the industrial products company's stock valued at $302,000 after acquiring an additional 58 shares during the last quarter. Institutional investors and hedge funds own 93.52% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Raymond James Financial lowered Applied Industrial Technologies from an "outperform" rating to a "market perform" rating in a research report on Friday, August 15th. Robert W. Baird upped their price target 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. Wall Street Zen upgraded Applied Industrial Technologies from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Oppenheimer upped their price target on Applied Industrial Technologies from $290.00 to $300.00 and gave the company an "outperform" rating in a research report on Friday, August 15th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Applied Industrial Technologies in a research report on Friday. Six investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $285.00.

Insider Buying and Selling at Applied Industrial Technologies

In other Applied Industrial Technologies news, VP Kurt W. Loring sold 8,523 shares of the firm's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $267.06, for a total value of $2,276,152.38. Following the sale, the vice president directly owned 19,273 shares in the company, valued at $5,147,047.38. This trade represents a 30.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Neil A. Schrimsher sold 26,671 shares of the firm's 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 sale, the chief executive officer owned 149,735 shares in the company, valued at approximately $39,299,448.10. This represents a 15.12% 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. Corporate insiders own 1.60% of the company's stock.

Applied Industrial Technologies Trading Up 0.0%

AIT opened at $260.07 on Friday. Applied Industrial Technologies, Inc. has a 52 week low of $199.96 and a 52 week high of $282.98. The business has a fifty day simple moving average of $259.74 and a 200-day simple moving average of $246.97. The firm has a market cap of $9.82 billion, a P/E ratio of 25.70, a P/E/G ratio of 2.75 and a beta of 0.96. 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 (NYSE:AIT - Get Free Report) last released its quarterly earnings results on Thursday, August 14th. The industrial products company reported $2.80 EPS for the quarter, topping the consensus estimate of $2.60 by $0.20. The business had revenue of $1.22 billion during 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 company's quarterly revenue was up 5.5% on a year-over-year basis. During the same period last year, the business posted $2.64 earnings per share. Applied Industrial Technologies has set its FY 2026 guidance at 10.000-10.75 EPS. On average, equities analysts expect that Applied Industrial Technologies, Inc. will post 9.9 earnings per share for the current year.

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.

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