Deutsche Bank AG Acquires Shares of 5,271 Applied Industrial Technologies, Inc. $AIT

Key Points

• Deutsche Bank acquired 5,271 shares of Applied Industrial Technologies in the second quarter, valued at approximately $1.78 million. Institutional investors collectively own 93.52% of the company.
• Analysts remain bullish, with seven Buy ratings and an average price target of $400; several firms recently raised their targets to $390–$400.
• Applied Industrial Technologies exceeded quarterly expectations, reporting $3.17 in EPS versus a $2.92 estimate and $1.35 billion in revenue. The company also declared a quarterly dividend of $0.51 per share, equivalent to a 0.6% yield.

Deutsche Bank AG bought a new position in Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 5,271 shares of the industrial products company's stock, valued at approximately $1,782,000.

Several other institutional investors have also made changes to their positions in AIT. Corient Private Wealth LLC grew its position in Applied Industrial Technologies by 22,451.0% during the 4th quarter. Corient Private Wealth LLC now owns 585,423 shares of the industrial products company's stock worth $150,319,000 after purchasing an additional 582,827 shares in the last quarter. Norges Bank acquired a new stake in Applied Industrial Technologies during the 4th quarter valued at $125,044,000. Bank of New York Mellon Corp purchased a new stake in shares of Applied Industrial Technologies in the second quarter valued at $93,672,000. Adage Capital Partners GP L.L.C. boosted its position in shares of Applied Industrial Technologies by 4,933.8% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 264,575 shares of the industrial products company's stock worth $67,935,000 after buying an additional 259,319 shares during the period. Finally, First Trust Advisors LP boosted its position in shares of Applied Industrial Technologies by 34.3% in the first quarter. First Trust Advisors LP now owns 978,840 shares of the industrial products company's stock worth $259,706,000 after buying an additional 249,961 shares during the period. 93.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Weiss Ratings reissued a "buy (b)" rating on shares of Applied Industrial Technologies in a research note on Tuesday, July 21st. Robert W. Baird upped their target price on Applied Industrial Technologies from $317.00 to $400.00 and gave the company an "outperform" rating in a report on Friday, August 14th. Oppenheimer increased their price target on shares of Applied Industrial Technologies from $350.00 to $390.00 and gave the stock an "outperform" rating in a research report on Friday, August 14th. Mizuho raised their price target on shares of Applied Industrial Technologies from $355.00 to $400.00 and gave the stock an "outperform" rating in a report on Friday, August 14th. Finally, Wall Street Zen upgraded shares of Applied Industrial Technologies from a "hold" rating to a "buy" rating in a report on Saturday, August 15th. Seven investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, Applied Industrial Technologies presently has an average rating of "Buy" and an average target price of $400.00.

Applied Industrial Technologies Stock Performance

AIT stock opened at $321.09 on Friday. The company has a quick ratio of 1.75, a current ratio of 2.58 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $11.78 billion, a price-to-earnings ratio of 29.30, a P/E/G ratio of 2.72 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 firm has a 50 day moving average of $340.60 and a two-hundred day moving average of $308.11.

Applied Industrial Technologies (NYSE:AIT - Get Free Report) last released its quarterly earnings results on Thursday, August 13th. The industrial products company reported $3.17 earnings per share for the quarter, beating analysts' consensus estimates of $2.92 by $0.25. The business 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%. Applied Industrial Technologies's revenue for the quarter was up 10.5% on a year-over-year basis. During the same quarter last year, the firm earned $2.80 EPS. Applied Industrial Technologies has set its FY 2027 guidance at 11.650-12.150 EPS. As a group, equities analysts anticipate that Applied Industrial Technologies, Inc. will post 11.95 EPS for the current fiscal year.

Applied Industrial Technologies Dividend Announcement

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

Insider Activity

In related news, Director Peter C. Wallace sold 1,904 shares of Applied Industrial Technologies stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $340.45, for a total value of $648,216.80. Following the transaction, the director owned 22,859 shares in the company, valued at $7,782,346.55. This trade represents a 7.69% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Madhuri A. Andrews sold 3,845 shares of the business's stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $329.89, for a total transaction of $1,268,427.05. Following the transaction, the director directly owned 4,951 shares of the company's stock, valued at approximately $1,633,285.39. This represents a 43.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 7,561 shares of company stock valued at $2,560,085 over the last 90 days. 1.60% of the stock is currently owned by company insiders.

Applied Industrial Technologies Company 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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