AQR Capital Management LLC Has $30.68 Million Stock Position in Applied Industrial Technologies, Inc. $AIT

AQR Capital Management LLC increased its position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) by 45.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 139,699 shares of the industrial products company's stock after purchasing an additional 43,808 shares during the period. AQR Capital Management LLC owned approximately 0.37% of Applied Industrial Technologies worth $30,678,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. MassMutual Private Wealth & Trust FSB increased its stake 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 worth $29,000 after purchasing an additional 44 shares in the last quarter. Harbor Investment Advisory LLC grew its stake 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 during the period. Wayfinding Financial LLC purchased a new stake in shares of Applied Industrial Technologies during the 1st quarter worth about $38,000. Opal Wealth Advisors LLC acquired a new position in shares of Applied Industrial Technologies during the 1st quarter valued at $41,000. Finally, First Horizon Advisors Inc. boosted its position 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 worth $48,000 after buying an additional 51 shares during the period. Hedge funds and other institutional investors own 93.52% of the company's stock.

Insider Buying and Selling at Applied Industrial Technologies

In other news, VP Jason W. Vasquez sold 7,466 shares of the firm's stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $260.08, for a total value of $1,941,757.28. Following the sale, the vice president owned 14,491 shares in the company, valued at approximately $3,768,819.28. This trade represents a 34.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Neil A. Schrimsher sold 26,671 shares of Applied Industrial Technologies stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $262.46, for a total value of $7,000,070.66. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 42,660 shares of company stock valued at $11,217,980 in the last 90 days. 1.67% of the stock is currently owned by insiders.

Applied Industrial Technologies Stock Performance

AIT stock traded down $3.51 during midday trading on Friday, hitting $266.18. 42,797 shares of the company traded hands, compared to its average volume of 390,075. Applied Industrial Technologies, Inc. has a twelve month low of $199.96 and a twelve month high of $282.98. The company has a quick ratio of 2.36, a current ratio of 3.32 and a debt-to-equity ratio of 0.31. The business has a 50 day simple moving average of $263.32 and a 200-day simple moving average of $240.78. The stock has a market capitalization of $10.05 billion, a price-to-earnings ratio of 26.30, a price-to-earnings-growth ratio of 2.78 and a beta of 1.00.

Applied Industrial Technologies (NYSE:AIT - Get Free Report) last posted its earnings results on Thursday, August 14th. The industrial products company reported $2.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.60 by $0.20. Applied Industrial Technologies had a net margin of 8.61% and a return on equity of 21.78%. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.18 billion. During the same period last year, the business posted $2.64 EPS. Applied Industrial Technologies's 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. As a group, equities research analysts predict that Applied Industrial Technologies, Inc. will post 9.9 earnings per share for the current year.

Applied Industrial Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were issued a $0.46 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $1.84 dividend on an annualized basis and a yield of 0.7%. Applied Industrial Technologies's dividend payout ratio (DPR) is 18.18%.

Analysts Set New Price Targets

A number of research firms have weighed in on AIT. Bank of America upped their price objective on shares of Applied Industrial Technologies from $275.00 to $290.00 and gave the company a "buy" rating in a research report on Friday, August 22nd. Wall Street Zen raised shares of Applied Industrial Technologies from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Oppenheimer raised 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. Robert W. Baird lifted their price objective on shares of Applied Industrial Technologies from $265.00 to $300.00 and gave the company an "outperform" rating in a research note on Friday, August 15th. Finally, Raymond James Financial lowered Applied Industrial Technologies from an "outperform" rating to a "market perform" rating in a research report on Friday, August 15th. Six analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus 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.