Kingsview Wealth Management LLC Invests $3.40 Million in Applied Industrial Technologies, Inc. $AIT

Key Points

• Kingsview Wealth Management initiated a $3.4 million position in Applied Industrial Technologies, buying 10,068 shares during the second quarter. Institutional investors collectively own 93.52% of the company.
• Applied Industrial Technologies reported quarterly earnings of $3.17 per share, exceeding estimates of $2.92, while revenue rose 10.5% year over year to $1.35 billion. The company also issued fiscal 2027 EPS guidance of $11.65–$12.15.
• Analysts maintained a bullish outlook, with an average “Buy” rating and a $400 price target, while the company declared a quarterly dividend of $0.51 per share, representing a 0.6% yield.

Kingsview Wealth Management LLC bought a new position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 10,068 shares of the industrial products company's stock, valued at approximately $3,405,000.

A number of other large investors have also recently made changes to their positions in the company. BlackRock Inc. acquired a new position in Applied Industrial Technologies during the 2nd quarter worth approximately $1,336,805,000. First Trust Advisors LP increased its position in shares of Applied Industrial Technologies by 34.3% in the 1st quarter. First Trust Advisors LP now owns 978,840 shares of the industrial products company's stock valued at $259,706,000 after purchasing an additional 249,961 shares during the last quarter. Capital International Investors increased its position in shares of Applied Industrial Technologies by 25.4% in the 4th quarter. Capital International Investors now owns 962,925 shares of the industrial products company's stock valued at $247,250,000 after purchasing an additional 195,043 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Applied Industrial Technologies by 0.9% in the 4th quarter. Wellington Management Group LLP now owns 776,394 shares of the industrial products company's stock valued at $199,355,000 after purchasing an additional 6,953 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Applied Industrial Technologies by 0.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 723,700 shares of the industrial products company's stock valued at $185,833,000 after purchasing an additional 3,348 shares in the last quarter. 93.52% of the stock is currently owned by hedge funds and other institutional investors.

Applied Industrial Technologies Trading Down 5.1%

Shares of Applied Industrial Technologies stock opened at $321.09 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.75 and a current ratio of 2.58. The company has a market capitalization of $11.78 billion, a P/E ratio of 29.30, a PEG ratio of 2.59 and a beta of 0.84. Applied Industrial Technologies, Inc. has a 1 year low of $238.34 and a 1 year high of $374.80. The company's fifty day moving average is $340.60 and its two-hundred day moving average is $308.11.

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

Applied Industrial Technologies Announces Dividend

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

Insiders Place Their Bets

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

Analyst Ratings Changes

A number of equities analysts recently commented on AIT shares. Wall Street Zen upgraded shares of Applied Industrial Technologies from a "hold" rating to a "buy" rating in a research note on Saturday, August 15th. Bank of America lifted their price target on Applied Industrial Technologies from $380.00 to $390.00 and gave the stock a "buy" rating in a report on Friday, August 14th. Robert W. Baird increased their price objective on Applied Industrial Technologies from $317.00 to $400.00 and gave the company an "outperform" rating in a report on Friday, August 14th. Weiss Ratings reiterated a "buy (b)" rating on shares of Applied Industrial Technologies in a report on Tuesday, July 21st. Finally, Oppenheimer raised their target price on Applied Industrial Technologies from $350.00 to $390.00 and gave the stock an "outperform" rating in a research report on Friday, August 14th. Seven research 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 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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