MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Has $5.16 Million Stock Position in 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. grew its stake in shares of Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) by 4.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,891 shares of the industrial products company's stock after purchasing an additional 999 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.06% of Applied Industrial Technologies worth $5,158,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of AIT. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Applied Industrial Technologies by 51.2% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 130 shares of the industrial products company's stock valued at $29,000 after purchasing an additional 44 shares during the last quarter. Harbor Investment Advisory LLC raised its position in Applied Industrial Technologies by 97.5% during the first quarter. Harbor Investment Advisory LLC now owns 160 shares of the industrial products company's stock valued at $36,000 after buying an additional 79 shares during the period. Wayfinding Financial LLC acquired a new position in Applied Industrial Technologies during the first quarter valued at $38,000. Opal Wealth Advisors LLC acquired a new position in Applied Industrial Technologies during the first quarter valued at $41,000. Finally, First Horizon Advisors Inc. raised its position in Applied Industrial Technologies by 31.1% during the first quarter. First Horizon Advisors Inc. now owns 215 shares of the industrial products company's stock valued at $48,000 after buying 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

In related news, VP Kurt W. Loring sold 8,523 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $267.06, for a total transaction of $2,276,152.38. Following the completion of the transaction, the vice president owned 19,273 shares in the company, valued at $5,147,047.38. This trade represents a 30.66% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Neil A. Schrimsher sold 26,671 shares of the firm's stock in a transaction that occurred 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 transaction, the chief executive officer owned 149,735 shares of the company's stock, valued at $39,299,448.10. This trade represents a 15.12% decrease in their position. The disclosure for this sale can be found here. Insiders sold 42,660 shares of company stock worth $11,217,980 in the last 90 days. 1.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Robert W. Baird upped their price target on Applied Industrial Technologies from $265.00 to $300.00 and gave the company an "outperform" rating in a research report on Friday, August 15th. Bank of America upped their target price on Applied Industrial Technologies from $275.00 to $290.00 and gave the stock a "buy" rating in a research report on Friday, August 22nd. Wall Street Zen raised Applied Industrial Technologies from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Oppenheimer upped their target price on Applied Industrial Technologies from $290.00 to $300.00 and gave the stock an "outperform" rating in a research report on Friday, August 15th. Finally, Raymond James Financial lowered Applied Industrial Technologies from an "outperform" rating to a "market perform" rating in a research report on Friday, August 15th. Six analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $285.00.

Applied Industrial Technologies Stock Performance

Shares of AIT stock traded up $0.02 during mid-day trading on Wednesday, reaching $262.60. The stock had a trading volume of 17,326 shares, compared to its average volume of 386,542. The firm's 50 day simple moving average is $264.34 and its 200 day simple moving average is $241.06. The company has a quick ratio of 2.36, a current ratio of 3.32 and a debt-to-equity ratio of 0.31. Applied Industrial Technologies, Inc. has a one year low of $199.96 and a one year high of $282.98. The firm has a market cap of $9.91 billion, a PE ratio of 25.93, a P/E/G ratio of 2.78 and a beta of 1.00.

Applied Industrial Technologies (NYSE:AIT - Get Free Report) last announced its quarterly earnings data on Thursday, August 14th. The industrial products company reported $2.80 EPS for the quarter, topping analysts' consensus estimates of $2.60 by $0.20. The company had revenue of $1.22 billion during 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 quarter last year, the company earned $2.64 EPS. Applied Industrial Technologies has set its FY 2026 guidance at 10.000-10.75 EPS. On average, analysts forecast that Applied Industrial Technologies, Inc. will post 9.9 EPS for the current year.

Applied Industrial Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were given a dividend of $0.46 per share. This represents a $1.84 annualized dividend 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%.

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.