4,215 Shares in Applied Industrial Technologies, Inc. $AIT Acquired by 111 Capital

Key Points

• 111 Capital has acquired 4,215 shares of Applied Industrial Technologies, valued at approximately $980,000, indicating growing institutional interest in the company.
• Applied Industrial Technologies reported $2.80 earnings per share (EPS) for the latest quarter, surpassing analysts' expectations of $2.60 and showing a year-over-year revenue increase of 5.5%.
• Several analysts have upgraded their ratings on the stock, with an average target price of $285.00, reflecting a strong outlook despite mixed ratings from different financial institutions.

111 Capital purchased a new position in Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 4,215 shares of the industrial products company's stock, valued at approximately $980,000.

Several other hedge funds have also made changes to their positions in the stock. GAMMA Investing LLC lifted its holdings in shares of Applied Industrial Technologies by 2.9% in the 2nd quarter. GAMMA Investing LLC now owns 1,453 shares of the industrial products company's stock worth $338,000 after purchasing an additional 41 shares during the last quarter. First Horizon Advisors Inc. lifted its holdings in shares of Applied Industrial Technologies by 31.1% in the 1st quarter. First Horizon Advisors Inc. now owns 215 shares of the industrial products company's stock worth $48,000 after purchasing an additional 51 shares during the last quarter. Focus Partners Wealth lifted its holdings in shares of Applied Industrial Technologies by 4.5% in the 1st quarter. Focus Partners Wealth now owns 1,341 shares of the industrial products company's stock worth $302,000 after purchasing an additional 58 shares during the last quarter. Contravisory Investment Management Inc. increased its position in Applied Industrial Technologies by 9.9% in the 2nd 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 period. Finally, Jump Financial LLC raised its stake in Applied Industrial Technologies by 3.7% during the 1st quarter. Jump Financial LLC now owns 1,895 shares of the industrial products company's stock valued at $427,000 after acquiring an additional 68 shares in the last quarter. Institutional investors own 93.52% of the company's stock.

Applied Industrial Technologies Stock Down 0.3%

Shares of AIT stock opened at $258.26 on Friday. Applied Industrial Technologies, Inc. has a 1 year low of $199.96 and a 1 year high of $282.98. The stock has a market cap of $9.75 billion, a PE ratio of 25.52, a price-to-earnings-growth ratio of 2.73 and a beta of 0.96. The business's fifty day moving average is $264.41 and its 200-day moving average is $243.97. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.36 and a current ratio of 3.32.

Applied Industrial Technologies (NYSE:AIT - Get Free Report) last issued its quarterly 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. Applied Industrial Technologies had a return on equity of 21.78% and a net margin of 8.61%.The company had revenue of $1.22 billion for the quarter, compared to analysts' expectations of $1.18 billion. During the same period last year, the firm earned $2.64 EPS. The firm's revenue for the quarter was up 5.5% on a year-over-year basis. Applied Industrial Technologies has set its FY 2026 guidance at 10.000-10.75 EPS. Equities analysts expect that Applied Industrial Technologies, Inc. will post 9.9 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Applied Industrial Technologies in a research note on Saturday, September 27th. Wall Street Zen raised Applied Industrial Technologies from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Raymond James Financial downgraded Applied Industrial Technologies from an "outperform" rating to a "market perform" rating in a research note on Friday, August 15th. Oppenheimer lifted their target price on Applied Industrial Technologies from $290.00 to $300.00 and gave the company an "outperform" rating in a research note on Friday, August 15th. Finally, Bank of America lifted their target price on Applied Industrial Technologies from $275.00 to $290.00 and gave the company a "buy" rating in a research note on Friday, August 22nd. Seven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $285.00.

Insider Activity

In other news, CEO Neil A. Schrimsher sold 26,671 shares of Applied Industrial Technologies stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $262.46, for a total transaction of $7,000,070.66. Following the transaction, the chief executive officer directly owned 149,735 shares in the company, valued at approximately $39,299,448.10. This trade represents a 15.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 owned 14,491 shares in the company, valued at $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. In the last ninety days, insiders have sold 42,660 shares of company stock worth $11,217,980. 1.60% of the stock is owned by company insiders.

Applied Industrial Technologies Company 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.

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