MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Purchases 999 Shares of Applied Industrial Technologies, Inc. $AIT

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Applied Industrial Technologies by 4.6%, acquiring an additional 999 shares to total 22,891, making their investment worth $5,158,000.
• Several hedge funds and institutional investors boosted their holdings in Applied Industrial Technologies, which is now 93.52% owned by such entities.
• The company's stock received upgraded price targets from multiple analysts, with a consensus target of $285.00 and a current rating of "Moderate Buy."

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) by 4.6% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 22,891 shares of the industrial products company's stock after buying an additional 999 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.06% of Applied Industrial Technologies worth $5,158,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Baird Financial Group Inc. grew its stake in shares of Applied Industrial Technologies by 2.5% in the 4th quarter. Baird Financial Group Inc. now owns 1,588 shares of the industrial products company's stock worth $380,000 after buying an additional 39 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its stake in shares of Applied Industrial Technologies by 51.2% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 130 shares of the industrial products company's stock worth $29,000 after buying an additional 44 shares during the last quarter. First Horizon Advisors Inc. grew its stake in shares of Applied Industrial Technologies by 31.1% in the 1st quarter. First Horizon Advisors Inc. now owns 215 shares of the industrial products company's stock worth $48,000 after buying an additional 51 shares during the last quarter. Two Sigma Investments LP grew its stake in shares of Applied Industrial Technologies by 1.4% in the 4th quarter. Two Sigma Investments LP now owns 4,676 shares of the industrial products company's stock worth $1,120,000 after buying an additional 64 shares during the last quarter. Finally, Jump Financial LLC grew its stake in shares of Applied Industrial Technologies by 3.7% in the 1st quarter. Jump Financial LLC now owns 1,895 shares of the industrial products company's stock worth $427,000 after buying an additional 68 shares during the last quarter. Hedge funds and other institutional investors own 93.52% of the company's stock.

Insider Transactions at Applied Industrial Technologies

In related news, VP Kurt W. Loring sold 8,523 shares of the firm's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $267.06, for a total value of $2,276,152.38. Following the transaction, the vice president directly 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 42,660 shares of company stock worth $11,217,980 in the last ninety days. Insiders own 1.67% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on AIT. Robert W. Baird upped their price target 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. Oppenheimer increased 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. Industrial Alliance Securities set a $290.00 target price on Applied Industrial Technologies in a research note on Friday, August 22nd. Bank of America increased their target price on Applied Industrial Technologies from $275.00 to $290.00 and gave the company a "buy" rating in a research note on Friday, August 22nd. Finally, Raymond James Financial downgraded Applied Industrial Technologies from an "outperform" rating to a "market perform" rating in a research note on Friday, August 15th. Six analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $285.00.

Applied Industrial Technologies Stock Performance

AIT stock opened at $269.74 on Friday. The company has a market cap of $10.18 billion, a P/E ratio of 26.65, a price-to-earnings-growth ratio of 2.78 and a beta of 1.00. Applied Industrial Technologies, Inc. has a 1 year low of $196.71 and a 1 year high of $282.98. 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's fifty day moving average price is $263.32 and its 200-day moving average price is $240.78.

Applied Industrial Technologies (NYSE:AIT - Get Free Report) last released its quarterly earnings results on Thursday, August 14th. The industrial products company reported $2.80 earnings per share (EPS) for the quarter, topping 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 revenue for the quarter was up 5.5% on a year-over-year basis. During the same period last year, the business posted $2.64 EPS. Applied Industrial Technologies has set its FY 2026 guidance at 10.000-10.75 EPS. On average, equities analysts forecast that Applied Industrial Technologies, Inc. will post 9.9 earnings per share for the current year.

Applied Industrial Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Friday, August 15th. Applied Industrial Technologies's dividend payout ratio (DPR) is 18.18%.

About Applied Industrial Technologies

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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