Quantbot Technologies LP Invests $2.59 Million in Applied Industrial Technologies, Inc. $AIT

Key Points

• Quantbot Technologies LP acquired 7,672 shares of Applied Industrial Technologies, valued at approximately $2.59 million. Institutional investors collectively own 93.52% of AIT’s outstanding stock.
• Applied Industrial Technologies exceeded quarterly expectations, reporting $3.17 in EPS on $1.35 billion in revenue, with revenue up 10.5% year over year. The company also declared a quarterly dividend of $0.51 per share.
• Analysts remain bullish, with seven Buy ratings and a consensus price target of $400, above the stock’s reported opening price of $341.38.

Quantbot Technologies LP acquired a new stake in shares of Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 7,672 shares of the industrial products company's stock, valued at approximately $2,594,000.

Other institutional investors have also modified their holdings of the company. Torren Management LLC acquired a new stake in Applied Industrial Technologies during the 4th quarter worth approximately $25,000. Global Retirement Partners LLC acquired a new position in shares of Applied Industrial Technologies in the second quarter valued at approximately $37,000. Kilter Group LLC bought a new stake in shares of Applied Industrial Technologies during the second quarter worth $40,000. Anchor Investment Management LLC bought a new stake in shares of Applied Industrial Technologies during the fourth quarter worth $32,000. Finally, Silvant Capital Management LLC bought a new stake in shares of Applied Industrial Technologies during the second quarter worth $54,000. Institutional investors own 93.52% of the company's stock.

Insider Transactions at Applied Industrial Technologies

In related news, CFO David K. Wells sold 1,812 shares of the stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $355.10, for a total transaction of $643,441.20. Following the completion of the transaction, the chief financial officer directly owned 32,050 shares of the company's stock, valued at approximately $11,380,955. This represents a 5.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Madhuri A. Andrews sold 3,845 shares of the firm's 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 of the company's stock, valued at approximately $1,633,285.39. This represents a 43.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.60% of the stock is currently owned by insiders.

Applied Industrial Technologies Stock Performance

Shares of AIT stock opened at $341.38 on Monday. Applied Industrial Technologies, Inc. has a 12 month low of $238.34 and a 12 month high of $374.80. The company's fifty day simple moving average is $340.04 and its 200-day simple moving average is $306.52. The firm has a market cap of $12.53 billion, a PE ratio of 31.15, a P/E/G ratio of 2.74 and a beta of 0.84. The company has a quick ratio of 1.75, a current ratio of 2.58 and a debt-to-equity ratio of 0.14.

Applied Industrial Technologies (NYSE:AIT - Get Free Report) last released its earnings results on Thursday, August 13th. The industrial products company reported $3.17 earnings per share 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 the consensus estimate of $1.29 billion. During the same quarter last year, the firm earned $2.80 earnings per share. The firm's revenue for the quarter 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. Equities research analysts expect that Applied Industrial Technologies, Inc. will post 11.95 EPS for the current fiscal year.

Applied Industrial Technologies Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. DA Davidson boosted their price objective on shares of Applied Industrial Technologies from $380.00 to $400.00 and gave the company a "buy" rating in a research report on Friday, August 14th. Mizuho upped their target price on shares of Applied Industrial Technologies from $355.00 to $400.00 and gave the stock an "outperform" rating in a research note on Friday, August 14th. Wall Street Zen raised Applied Industrial Technologies from a "hold" rating to a "buy" rating in a research note on Saturday, August 15th. Oppenheimer lifted their price target on Applied Industrial Technologies from $350.00 to $390.00 and gave the company an "outperform" rating in a research note on Friday, August 14th. Finally, KeyCorp boosted their price target on Applied Industrial Technologies from $375.00 to $420.00 and gave the company an "overweight" rating in a report on Friday, August 14th. Seven research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Applied Industrial Technologies currently has a consensus rating of "Buy" and an average price target of $400.00.

Applied Industrial Technologies Company 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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