Credit Agricole S A Has $2.36 Million Stock Position in Applied Industrial Technologies, Inc. $AIT

Key Points

• Credit Agricole S A increased its stake in Applied Industrial Technologies by 62.3% during the first quarter, acquiring an additional 4,026 shares, bringing its total holdings to 10,493 shares valued at $2,364,000.
• Applied Industrial Technologies recently reported $2.80 EPS for the quarter, exceeding estimates of $2.60, with quarterly revenue also surpassing expectations at $1.22 billion.
• The company has announced a quarterly dividend of $0.46 per share to be paid on August 29, with a dividend yield of 0.7% and a payout ratio of 18.18%.

Credit Agricole S A boosted its stake in Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) by 62.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,493 shares of the industrial products company's stock after buying an additional 4,026 shares during the period. Credit Agricole S A's holdings in Applied Industrial Technologies were worth $2,364,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB increased its position in Applied Industrial Technologies by 51.2% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 130 shares of the industrial products company's stock worth $29,000 after buying an additional 44 shares during the period. Harbor Investment Advisory LLC increased its position in Applied Industrial Technologies by 97.5% in the first quarter. Harbor Investment Advisory LLC now owns 160 shares of the industrial products company's stock worth $36,000 after buying an additional 79 shares during the period. Wayfinding Financial LLC acquired a new stake in Applied Industrial Technologies in the first quarter worth $38,000. Opal Wealth Advisors LLC acquired a new stake in Applied Industrial Technologies in the first quarter worth $41,000. Finally, Quarry LP acquired a new stake in Applied Industrial Technologies in the fourth quarter worth $51,000. 93.52% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Applied Industrial Technologies

In related news, VP Jason W. Vasquez sold 7,466 shares of the firm's stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $260.08, for a total transaction of $1,941,757.28. Following the completion of the transaction, the vice president owned 14,491 shares of the company's stock, valued at $3,768,819.28. This trade represents a 34.00% 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, CEO Neil A. Schrimsher sold 26,671 shares of the firm's stock in a transaction dated 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 transaction, the chief executive officer directly owned 149,735 shares of the company's stock, valued at $39,299,448.10. This represents a 15.12% decrease in their position. The disclosure for this sale can be found here. Insiders sold 42,660 shares of company stock valued at $11,217,980 over the last 90 days. 1.67% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

AIT has been the topic of several analyst reports. Oppenheimer increased their target price on Applied Industrial Technologies from $290.00 to $300.00 and gave the stock 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. Wall Street Zen raised Applied Industrial Technologies from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Bank of America increased their price target 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. Finally, Raymond James Financial cut Applied Industrial Technologies from an "outperform" rating to a "market perform" rating in a research note 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. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $285.00.

Applied Industrial Technologies Stock Performance

Shares of NYSE:AIT traded down $2.76 on Friday, hitting $263.71. The company's stock had a trading volume of 18,182 shares, compared to its average volume of 401,420. Applied Industrial Technologies, Inc. has a 12 month low of $191.31 and a 12 month high of $282.98. The company has a market capitalization of $9.96 billion, a price-to-earnings ratio of 26.04, a price-to-earnings-growth ratio of 2.83 and a beta of 0.94. The stock's 50-day moving average is $257.42 and its two-hundred day moving average is $240.52. 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 released its quarterly earnings results on Thursday, August 14th. The industrial products company reported $2.80 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analysts' expectations of $1.18 billion. During the same quarter in the prior year, the business posted $2.64 earnings per share. The company's revenue for the quarter was up 5.5% compared to the same quarter last year. Applied Industrial Technologies has set its FY 2026 guidance at 10.000-10.75 EPS. On average, equities research analysts forecast that Applied Industrial Technologies, Inc. will post 9.9 EPS for the current year.

Applied Industrial Technologies declared that its Board of Directors has authorized a stock buyback plan on Thursday, May 1st that permits the company to buyback 1,500,000 shares. This buyback authorization permits the industrial products company to reacquire shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company's leadership believes its stock is undervalued.

Applied Industrial Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be paid a dividend of $0.46 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.84 annualized dividend and a yield of 0.7%. Applied Industrial Technologies's dividend payout ratio (DPR) is currently 18.18%.

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.