Algert Global LLC Boosts Position in Applied Industrial Technologies, Inc. $AIT

Key Points

• Algert Global LLC increased its holdings in Applied Industrial Technologies by 17.2% in the first quarter, now owning 55,734 shares valued at approximately $12.56 million.
• Analyst ratings for Applied Industrial Technologies show mixed sentiments, with one downgrade to "market perform" and several upgrades from "hold" to "buy", while the consensus target price is $287.86.
• Applied Industrial Technologies reported earnings of $2.80 EPS for the last quarter, exceeding estimates, with revenues increasing by 5.5% year-over-year.

Algert Global LLC grew its holdings in shares of Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) by 17.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 55,734 shares of the industrial products company's stock after acquiring an additional 8,187 shares during the quarter. Algert Global LLC owned about 0.15% of Applied Industrial Technologies worth $12,559,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB boosted its position in shares of 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 valued at $29,000 after acquiring an additional 44 shares during the last quarter. Harbor Investment Advisory LLC raised its holdings in shares of Applied Industrial Technologies by 97.5% during the 1st quarter. Harbor Investment Advisory LLC now owns 160 shares of the industrial products company's stock valued at $36,000 after buying an additional 79 shares in the last quarter. Wayfinding Financial LLC purchased a new position in shares of Applied Industrial Technologies during the 1st quarter valued at about $38,000. Opal Wealth Advisors LLC purchased a new position in shares of Applied Industrial Technologies during the 1st quarter valued at about $41,000. Finally, Quarry LP purchased a new position in shares of Applied Industrial Technologies during the 4th quarter valued at about $51,000. Institutional investors own 93.52% of the company's stock.

Applied Industrial Technologies Trading Up 3.7%

Applied Industrial Technologies stock traded up $9.6750 during trading hours on Friday, reaching $268.4350. The company had a trading volume of 124,170 shares, compared to its average volume of 407,067. 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 50-day moving average price of $253.41 and a 200 day moving average price of $240.42. The firm has a market cap of $10.13 billion, a price-to-earnings ratio of 26.53, a P/E/G ratio of 3.20 and a beta of 0.94. Applied Industrial Technologies, Inc. has a 12-month low of $191.31 and a 12-month high of $282.98.

Applied Industrial Technologies (NYSE:AIT - Get Free Report) last announced its quarterly earnings results on Thursday, August 14th. The industrial products company reported $2.80 EPS for the quarter, topping analysts' consensus estimates of $2.60 by $0.20. The business had revenue of $1.22 billion for the quarter, compared to analysts' expectations of $1.18 billion. Applied Industrial Technologies had a return on equity of 21.78% and a net margin of 8.61%.The business's quarterly revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the firm earned $2.64 EPS. Applied Industrial Technologies has set its FY 2026 guidance at 10.000-10.75 EPS. Equities analysts forecast that Applied Industrial Technologies, Inc. will post 9.9 earnings per share for the current year.

Applied Industrial Technologies declared that its board has initiated a stock buyback plan on Thursday, May 1st that allows the company to buyback 1,500,000 outstanding shares. This buyback authorization allows the industrial products company to repurchase shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company's board believes its shares are undervalued.

Applied Industrial Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Stockholders 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 dividend yield of 0.7%. Applied Industrial Technologies's payout ratio is 18.18%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Wall Street Zen raised Applied Industrial Technologies from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Robert W. Baird raised their price objective on Applied Industrial Technologies from $265.00 to $300.00 and gave the company an "outperform" rating in a report on Friday, August 15th. Oppenheimer raised their price objective on Applied Industrial Technologies from $290.00 to $300.00 and gave the company an "outperform" rating in a report on Friday, August 15th. Raymond James Financial cut Applied Industrial Technologies from an "outperform" rating to a "market perform" rating in a report on Friday, August 15th. Finally, Bank of America raised their price objective on Applied Industrial Technologies from $275.00 to $290.00 and gave the company a "buy" rating in a report on Friday. Six research 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, the company presently has an average rating of "Moderate Buy" and an average target price of $284.29.

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.