Allianz Asset Management GmbH lessened its stake in shares of Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) by 3.5% in the second quarter, according to its most recent filing with the SEC. The fund owned 53,710 shares of the industrial products company's stock after selling 1,920 shares during the period. Allianz Asset Management GmbH owned about 0.14% of Applied Industrial Technologies worth $12,485,000 at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of AIT. Rise Advisors LLC lifted its holdings in shares of Applied Industrial Technologies by 111.1% in the first quarter. Rise Advisors LLC now owns 133 shares of the industrial products company's stock valued at $30,000 after purchasing an additional 70 shares in the last quarter. Maseco LLP purchased a new stake in shares of Applied Industrial Technologies in the second quarter valued at $35,000. Wayfinding Financial LLC purchased a new stake in shares of Applied Industrial Technologies in the first quarter valued at $38,000. First Horizon Advisors Inc. lifted its holdings in shares of Applied Industrial Technologies by 31.1% in the first quarter. First Horizon Advisors Inc. now owns 215 shares of the industrial products company's stock valued at $48,000 after purchasing an additional 51 shares in the last quarter. Finally, SVB Wealth LLC purchased a new stake in shares of Applied Industrial Technologies in the first quarter valued at $48,000. Hedge funds and other institutional investors own 93.52% of the company's stock.
Applied Industrial Technologies Trading Up 0.9%
Applied Industrial Technologies stock opened at $250.17 on Tuesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.32 and a quick ratio of 2.36. The company has a market capitalization of $9.44 billion, a price-to-earnings ratio of 24.72, a PEG ratio of 2.62 and a beta of 0.96. Applied Industrial Technologies, Inc. has a one year low of $199.96 and a one year high of $282.98. The company's fifty day moving average price is $260.58 and its two-hundred day moving average price is $245.81.
Applied Industrial Technologies (NYSE:AIT - Get Free Report) last posted its 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 firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.18 billion. Applied Industrial Technologies had a net margin of 8.61% and a return on equity of 21.78%. The business's quarterly revenue was up 5.5% on a year-over-year basis. During the same period in the prior 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, analysts forecast that Applied Industrial Technologies, Inc. will post 9.9 earnings per share for the current fiscal year.
Insider Buying and Selling at Applied Industrial Technologies
In other Applied Industrial Technologies news, CEO Neil A. Schrimsher sold 26,671 shares of the company's stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $262.46, for a total transaction of $7,000,070.66. Following the completion of the sale, the chief executive officer directly owned 149,735 shares in the company, valued at $39,299,448.10. This represents a 15.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Kurt W. Loring sold 8,523 shares of the company's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $267.06, for a total transaction of $2,276,152.38. Following the sale, the vice president owned 19,273 shares of the company's stock, valued at $5,147,047.38. This trade represents a 30.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 42,660 shares of company stock worth $11,217,980 over the last ninety days. Company insiders own 1.60% of the company's stock.
Analyst Ratings Changes
A number of equities analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Applied Industrial Technologies in a research note on Wednesday, October 8th. Oppenheimer upped their price target on shares of Applied Industrial Technologies from $290.00 to $300.00 and gave the stock an "outperform" rating in a research note on Friday, August 15th. Industrial Alliance Securities set a $290.00 price target on shares of Applied Industrial Technologies in a research note on Friday, August 22nd. Bank of America upped their price target on shares of 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, Wall Street Zen raised shares of Applied Industrial Technologies from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Seven investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, Applied Industrial Technologies has a consensus rating of "Moderate Buy" and an average target price of $285.00.
Check Out Our Latest Stock Analysis on Applied Industrial Technologies
About Applied Industrial Technologies
(
Free Report)
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.
Further Reading
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