B. Metzler seel. Sohn & Co. AG Invests $5.34 Million in Applied Industrial Technologies, Inc. $AIT

Key Points

• B. Metzler seel. Sohn & Co. AG acquired 15,804 shares of Applied Industrial Technologies in the second quarter, worth approximately $5.34 million. Institutional investors collectively own 93.52% of the company.
• Analysts remain bullish, with several firms raising price targets; MarketBeat reports a consensus “Buy” rating and an average target of $400.
• Applied Industrial Technologies exceeded quarterly expectations, reporting $3.17 in EPS versus $2.92 expected and $1.35 billion in revenue, up 10.5% year over year. The company also declared a $0.51 quarterly dividend, equal to a 0.6% annualized yield.

B. Metzler seel. Sohn & Co. AG bought a new position in Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 15,804 shares of the industrial products company's stock, valued at approximately $5,344,000.

Other large investors also recently made changes to their positions in the company. Compound Planning Inc. raised its position in shares of Applied Industrial Technologies by 4.7% in the 4th quarter. Compound Planning Inc. now owns 822 shares of the industrial products company's stock worth $211,000 after buying an additional 37 shares during the period. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Applied Industrial Technologies by 7.4% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 653 shares of the industrial products company's stock worth $170,000 after purchasing an additional 45 shares during the period. Sanctuary Advisors LLC increased its position in Applied Industrial Technologies by 4.5% during the 1st quarter. Sanctuary Advisors LLC now owns 1,160 shares of the industrial products company's stock worth $308,000 after purchasing an additional 50 shares in the last quarter. Focus Partners Wealth raised its holdings in Applied Industrial Technologies by 4.5% in the first quarter. Focus Partners Wealth now owns 1,341 shares of the industrial products company's stock valued at $302,000 after buying an additional 58 shares during the period. Finally, Cetera Investment Advisers raised its holdings in Applied Industrial Technologies by 0.5% in the fourth quarter. Cetera Investment Advisers now owns 10,900 shares of the industrial products company's stock valued at $2,799,000 after buying an additional 58 shares during the period. Hedge funds and other institutional investors own 93.52% of the company's stock.

Insider Buying and Selling

In other Applied Industrial Technologies news, Director Madhuri A. Andrews sold 3,845 shares of the company's stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $329.89, for a total transaction of $1,268,427.05. Following the completion of the sale, the director directly owned 4,951 shares in the company, valued at $1,633,285.39. This represents a 43.71% 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, CFO David K. Wells sold 1,812 shares of the business's stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $355.10, for a total value of $643,441.20. Following the transaction, the chief financial officer directly owned 32,050 shares of the company's stock, valued at $11,380,955. This represents a 5.35% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on AIT. Mizuho increased their target price on Applied Industrial Technologies from $355.00 to $400.00 and gave the company an "outperform" rating in a research note on Friday, August 14th. Wall Street Zen raised shares of Applied Industrial Technologies from a "hold" rating to a "buy" rating in a research report on Saturday, August 15th. Bank of America lifted their price objective on shares of Applied Industrial Technologies from $380.00 to $390.00 and gave the company a "buy" rating in a research note on Friday, August 14th. KeyCorp upped their target price on shares of Applied Industrial Technologies from $375.00 to $420.00 and gave the company an "overweight" rating in a research note on Friday, August 14th. Finally, Oppenheimer raised their price target on shares of Applied Industrial Technologies from $350.00 to $390.00 and gave the company an "outperform" rating in a report on Friday, August 14th. Seven analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $400.00.

Applied Industrial Technologies Stock Up 0.3%

AIT stock opened at $341.38 on Friday. The firm has a market cap of $12.53 billion, a PE ratio of 31.15, a P/E/G ratio of 2.73 and a beta of 0.84. Applied Industrial Technologies, Inc. has a 12 month low of $238.34 and a 12 month high of $374.80. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.58 and a quick ratio of 1.75. The firm has a 50 day simple moving average of $340.04 and a 200 day simple moving average of $306.27.

Applied Industrial Technologies (NYSE:AIT - Get Free Report) last announced its earnings results on Thursday, August 13th. The industrial products company reported $3.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.92 by $0.25. The company had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.29 billion. Applied Industrial Technologies had a net margin of 8.35% and a return on equity of 22.17%. The company's revenue was up 10.5% on a year-over-year basis. During the same period in the previous year, the business earned $2.80 EPS. Applied Industrial Technologies has set its FY 2027 guidance at 11.650-12.150 EPS. Equities research analysts forecast that Applied Industrial Technologies, Inc. will post 11.95 earnings per share for the current fiscal year.

Applied Industrial Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Friday, August 14th will be issued a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.6%. Applied Industrial Technologies's dividend payout ratio is currently 18.61%.

Applied Industrial Technologies Profile

Applied Industrial Technologies, listed on the New York Stock Exchange under the symbol AIT, is a leading distributor of industrial products and services. The company offers a comprehensive range of bearings, power transmission components, fluid power products, industrial rubber products, and automation solutions. Through its network of distribution centers and branch locations, Applied Industrial Technologies serves diverse end markets including manufacturing, oil and gas, mining, food and beverage, and wastewater treatment.

Founded in 1923 and headquartered in Cleveland, Ohio, Applied Industrial Technologies has grown through a combination of organic expansion and strategic acquisitions.

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