Maryland State Retirement & Pension System Takes Position in Applied Industrial Technologies, Inc. $AIT

Key Points

• The Maryland State Retirement & Pension System acquired a new stake in Applied Industrial Technologies, purchasing 1,852 shares valued at approximately $430,000 during the 2nd quarter.
• Insider selling occurred recently, with VP Jason W. Vasquez and CEO Neil A. Schrimsher selling shares totaling over $9 million, resulting in significant decreases in their ownership percentages.
• Applied Industrial Technologies reported strong quarterly earnings of $2.80 EPS, exceeding analysts' expectations, and established FY 2026 guidance between 10.000-10.75 EPS.

Maryland State Retirement & Pension System bought a new stake in shares of Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,852 shares of the industrial products company's stock, valued at approximately $430,000.

Several other hedge funds have also recently made changes to their positions in AIT. Rise Advisors LLC grew its stake in Applied Industrial Technologies by 111.1% in the first quarter. Rise Advisors LLC now owns 133 shares of the industrial products company's stock worth $30,000 after purchasing an additional 70 shares during the period. Maseco LLP purchased a new stake in Applied Industrial Technologies in the second quarter worth $35,000. Wayfinding Financial LLC purchased a new stake in Applied Industrial Technologies in the first quarter worth $38,000. Opal Wealth Advisors LLC purchased a new stake in Applied Industrial Technologies in the first quarter worth $41,000. Finally, First Horizon Advisors Inc. grew its stake in 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 purchasing an additional 51 shares during the period. 93.52% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Applied Industrial Technologies

In other Applied Industrial Technologies news, VP Jason W. Vasquez sold 7,466 shares of the stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $260.08, for a total value of $1,941,757.28. Following the transaction, the vice president owned 14,491 shares of the company's stock, valued at approximately $3,768,819.28. This represents a 34.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Neil A. Schrimsher sold 26,671 shares of the stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $262.46, for a total value of $7,000,070.66. Following the completion of the transaction, the chief executive officer directly owned 149,735 shares in the company, valued at approximately $39,299,448.10. This represents a 15.12% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 42,660 shares of company stock valued at $11,217,980. 1.60% of the stock is owned by company insiders.

Applied Industrial Technologies Trading Up 0.4%

Shares of NYSE:AIT opened at $247.09 on Tuesday. The company has a market cap of $9.33 billion, a P/E ratio of 24.42, a PEG ratio of 2.60 and a beta of 0.96. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.32 and a quick ratio of 2.36. Applied Industrial Technologies, Inc. has a 1 year low of $199.96 and a 1 year high of $282.98. The stock's fifty day moving average price is $262.18 and its 200-day moving average price is $244.94.

Applied Industrial Technologies (NYSE:AIT - Get Free Report) last announced its quarterly 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. The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.18 billion. Applied Industrial Technologies had a return on equity of 21.78% and a net margin of 8.61%.The company's quarterly revenue was up 5.5% on a year-over-year basis. During the same period in the prior year, the company posted $2.64 earnings per share. Applied Industrial Technologies has set its FY 2026 guidance at 10.000-10.75 EPS. Sell-side analysts expect that Applied Industrial Technologies, Inc. will post 9.9 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Oppenheimer upped their price target on Applied Industrial Technologies from $290.00 to $300.00 and gave the stock an "outperform" rating in a research note on Friday, August 15th. Wall Street Zen raised Applied Industrial Technologies from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Bank of America increased their target price on Applied Industrial Technologies from $275.00 to $290.00 and gave the stock a "buy" rating in a research note on Friday, August 22nd. Industrial Alliance Securities set a $290.00 target price on Applied Industrial Technologies in a research note on Friday, August 22nd. Finally, Robert W. Baird increased their target price on Applied Industrial Technologies from $265.00 to $300.00 and gave the stock an "outperform" rating in a research note on Friday, August 15th. Seven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $285.00.

Applied Industrial Technologies 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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