Boston Trust Walden Corp Acquires 10,015 Shares of Applied Industrial Technologies, Inc. $AIT

Key Points

• Boston Trust Walden Corp increased its holdings in Applied Industrial Technologies by 2.0%, acquiring an additional 10,015 shares to total 508,120 shares, making it the 27th largest holding in their portfolio.
• Insider sales included CEO Neil A. Schrimsher selling 26,671 shares worth over $7 million, resulting in a 15.12% decrease in his stake in the company.
• The stock has received a mix of ratings, with analysts giving it an average price target of $285 and several upgrades, including a target increase from $265 to $300 by Robert W. Baird.

Boston Trust Walden Corp grew its holdings in Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) by 2.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 508,120 shares of the industrial products company's stock after acquiring an additional 10,015 shares during the quarter. Applied Industrial Technologies accounts for 0.8% of Boston Trust Walden Corp's portfolio, making the stock its 27th largest holding. Boston Trust Walden Corp owned approximately 1.33% of Applied Industrial Technologies worth $118,113,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of AIT. Farther Finance Advisors LLC raised its stake in shares of Applied Industrial Technologies by 18.0% in the first quarter. Farther Finance Advisors LLC now owns 630 shares of the industrial products company's stock valued at $145,000 after purchasing an additional 96 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Applied Industrial Technologies by 51.3% in the first quarter. GAMMA Investing LLC now owns 1,412 shares of the industrial products company's stock valued at $318,000 after purchasing an additional 479 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Applied Industrial Technologies in the first quarter valued at $781,000. Fifth Third Bancorp raised its stake in shares of Applied Industrial Technologies by 7.8% in the first quarter. Fifth Third Bancorp now owns 2,378 shares of the industrial products company's stock valued at $536,000 after purchasing an additional 172 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its stake in shares of Applied Industrial Technologies by 17.7% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 1,501 shares of the industrial products company's stock valued at $338,000 after purchasing an additional 226 shares in the last quarter. 93.52% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Neil A. Schrimsher sold 26,671 shares of the firm's stock in a transaction on 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 completion of 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 sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Kurt W. Loring sold 8,523 shares of the firm's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $267.06, for a total value of $2,276,152.38. Following the completion of the sale, the vice president owned 19,273 shares of the company's stock, valued at approximately $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. Over the last ninety days, insiders sold 42,660 shares of company stock worth $11,217,980. 1.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

AIT has been the subject of a number of recent research reports. Industrial Alliance Securities set a $290.00 target price on Applied Industrial Technologies in a research note on Friday, August 22nd. Raymond James Financial lowered Applied Industrial Technologies from an "outperform" rating to a "market perform" rating in a research note on Friday, August 15th. Robert W. Baird upped their target price on Applied Industrial Technologies from $265.00 to $300.00 and gave the company an "outperform" rating in a research note on Friday, August 15th. Weiss Ratings restated a "buy (b)" rating on shares of Applied Industrial Technologies in a research note on Wednesday, October 8th. Finally, Oppenheimer upped 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. Seven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Applied Industrial Technologies presently has an average rating of "Moderate Buy" and an average price target of $285.00.

Applied Industrial Technologies Stock Performance

Applied Industrial Technologies stock opened at $247.09 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 stock has a fifty day moving average price of $262.18 and a two-hundred day moving average price of $244.94. Applied Industrial Technologies, Inc. has a 52-week low of $199.96 and a 52-week high of $282.98. The firm has a market capitalization of $9.33 billion, a P/E ratio of 24.42, a P/E/G ratio of 2.60 and a beta of 0.96.

Applied Industrial Technologies (NYSE:AIT - Get Free Report) last released its quarterly earnings data on Thursday, August 14th. The industrial products company reported $2.80 earnings per share (EPS) for the quarter, topping the consensus estimate 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 period in the prior year, the company posted $2.64 earnings per share. The business's revenue for the quarter 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, analysts anticipate that Applied Industrial Technologies, Inc. will post 9.9 EPS for the current fiscal year.

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.

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