Perbak Capital Partners LLP Invests $214,000 in Applied Industrial Technologies, Inc. $AIT

Key Points

• Perbak Capital Partners LLP has invested $214,000 in Applied Industrial Technologies by acquiring 951 shares, marking a new position for the firm.
• Several hedge funds, including Cambridge Investment Research Advisors Inc. and Janney Montgomery Scott LLC, have also adjusted their holdings in Applied Industrial Technologies, emphasizing significant institutional interest with 93.52% of the stock owned by institutional investors.
• Applied Industrial Technologies reported positive quarterly earnings, with an EPS of $2.80, exceeding analysts' expectations, and announced a dividend of $0.46, resulting in an annualized yield of 0.7%.

Perbak Capital Partners LLP purchased a new position in Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 951 shares of the industrial products company's stock, valued at approximately $214,000.

Other large investors have also recently added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB increased its position in 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 valued at $29,000 after acquiring an additional 44 shares during the period. Harbor Investment Advisory LLC increased its position in Applied Industrial Technologies by 97.5% in the 1st quarter. Harbor Investment Advisory LLC now owns 160 shares of the industrial products company's stock valued at $36,000 after acquiring an additional 79 shares during the period. Wayfinding Financial LLC acquired a new stake in Applied Industrial Technologies in the 1st quarter valued at approximately $38,000. Opal Wealth Advisors LLC acquired a new stake in Applied Industrial Technologies in the 1st quarter valued at approximately $41,000. Finally, SVB Wealth LLC acquired a new stake in Applied Industrial Technologies in the 1st quarter valued at approximately $48,000. 93.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Applied Industrial Technologies

In other Applied Industrial Technologies news, CEO Neil A. Schrimsher sold 26,671 shares of the firm's stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $262.46, for a total transaction of $7,000,070.66. Following the transaction, the chief executive officer directly owned 149,735 shares in the company, valued at $39,299,448.10. This trade represents a 15.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Jason W. Vasquez sold 7,466 shares of the firm's stock in a transaction dated Thursday, August 21st. The shares were 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 in the company, valued at approximately $3,768,819.28. This trade represents a 34.00% 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 over the last three months. Corporate insiders own 1.67% of the company's stock.

Applied Industrial Technologies Stock Down 1.1%

Shares of Applied Industrial Technologies stock traded down $2.82 during midday trading on Friday, hitting $265.14. The company's stock had a trading volume of 219,243 shares, compared to its average volume of 255,805. The firm has a market capitalization of $10.01 billion, a P/E ratio of 26.20, a PEG ratio of 2.80 and a beta of 1.00. The stock has a 50-day simple moving average of $261.42 and a 200-day simple moving average of $240.33. 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 1-year low of $191.31 and a 1-year high of $282.98.

Applied Industrial Technologies (NYSE:AIT - Get Free Report) last released its quarterly earnings data 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 during the quarter, compared to analysts' expectations of $1.18 billion. Applied Industrial Technologies had a return on equity of 21.78% and a net margin of 8.61%.The business's revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter last year, the firm earned $2.64 earnings per share. Applied Industrial Technologies has set its FY 2026 guidance at 10.000-10.75 EPS. As a group, sell-side analysts expect 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 disclosed 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. The ex-dividend date of this dividend was Friday, August 15th. This represents a $1.84 dividend on an annualized basis and a yield of 0.7%. Applied Industrial Technologies's dividend payout ratio (DPR) is presently 18.18%.

Analyst Upgrades and Downgrades

Several research firms recently commented on AIT. Robert W. Baird raised their target price 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. Wall Street Zen upgraded Applied Industrial Technologies from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Raymond James Financial cut Applied Industrial Technologies from an "outperform" rating to a "market perform" rating in a report on Friday, August 15th. Oppenheimer lifted their target price on Applied Industrial Technologies from $290.00 to $300.00 and gave the stock an "outperform" rating in a report on Friday, August 15th. Finally, Industrial Alliance Securities set a $290.00 target price on Applied Industrial Technologies in a report on Friday, August 22nd. Six investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price 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.