Applied Industrial Technologies, Inc. $AIT Shares Acquired by Curi RMB Capital LLC

Key Points

• Curi RMB Capital LLC increased its stake in Applied Industrial Technologies by 2.2% in Q1, now holding 84,968 shares valued at approximately $19.1 million.
• Insider Kurt W. Loring sold 8,523 shares for over $2.27 million, while CEO Neil A. Schrimsher sold 26,671 shares for about $7 million, indicating a decrease in their respective holdings.
• The company reported a quarterly EPS of $2.80, exceeding expectations, and set a fiscal year guidance of 10.00 - 10.75 EPS for FY 2026.

Curi RMB Capital LLC increased its holdings in shares of Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) by 2.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 84,968 shares of the industrial products company's stock after buying an additional 1,807 shares during the quarter. Curi RMB Capital LLC owned 0.22% of Applied Industrial Technologies worth $19,147,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Baird Financial Group Inc. lifted its stake in 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 worth $380,000 after purchasing an additional 39 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its position in Applied Industrial Technologies by 51.2% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 130 shares of the industrial products company's stock worth $29,000 after purchasing an additional 44 shares during the last quarter. First Horizon Advisors Inc. raised its position in Applied Industrial Technologies by 31.1% during 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. Two Sigma Investments LP grew its holdings in Applied Industrial Technologies by 1.4% during the 4th quarter. Two Sigma Investments LP now owns 4,676 shares of the industrial products company's stock worth $1,120,000 after acquiring an additional 64 shares during the period. Finally, Jump Financial LLC grew its holdings 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 worth $427,000 after acquiring an additional 68 shares during the period. Institutional investors and hedge funds own 93.52% of the company's stock.

Applied Industrial Technologies Stock Performance

Shares of NYSE:AIT traded up $0.37 during midday trading on Monday, hitting $265.81. The company had a trading volume of 197,100 shares, compared to its average volume of 395,634. 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 cap of $10.03 billion, a price-to-earnings ratio of 26.27, a PEG ratio of 2.80 and a beta of 1.00. The company has a fifty day moving average of $261.42 and a two-hundred day moving average of $240.17. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.32 and a quick ratio of 2.36.

Applied Industrial Technologies (NYSE:AIT - Get Free Report) last issued its quarterly earnings data on Thursday, August 14th. The industrial products company reported $2.80 earnings per share for the quarter, beating analysts' consensus estimates 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 firm had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.18 billion. During the same quarter last year, the business posted $2.64 earnings per share. The business's quarterly revenue 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 expect that Applied Industrial Technologies, Inc. will post 9.9 EPS for the current fiscal year.

Applied Industrial Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Friday, August 15th. Applied Industrial Technologies's payout ratio is currently 18.18%.

Insider Activity

In other news, CEO Neil A. Schrimsher sold 26,671 shares of the company's 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 of the company's stock, valued at approximately $39,299,448.10. This represents a 15.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Jason W. Vasquez sold 7,466 shares of the company's 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 transaction, the vice president directly 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. Over the last quarter, insiders sold 42,660 shares of company stock valued at $11,217,980. Corporate insiders own 1.67% of the company's stock.

Analysts Set New Price Targets

AIT has been the subject of several research reports. Bank of America raised 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. 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. Raymond James Financial cut shares of Applied Industrial Technologies from an "outperform" rating to a "market perform" rating in a report 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, Industrial Alliance Securities set a $290.00 target price on Applied Industrial Technologies in a research note on Friday, August 22nd. Six investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $285.00.

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.