Robeco Schweiz AG Sells 39,054 Shares of Applied Industrial Technologies, Inc. $AIT

Key Points

• Robeco Schweiz AG cut its Applied Industrial Technologies position by 25.9%, selling 39,054 shares and retaining 111,468 shares worth approximately $37.0 million. Institutional investors collectively own 93.52% of the company.
• Applied Industrial Technologies exceeded quarterly expectations, reporting $3.17 in earnings per share versus the $2.92 consensus and $1.35 billion in revenue, up 10.5% year over year.
• Analysts remain bullish, with seven Buy ratings and a consensus price target of $398.33; several firms recently raised their targets to between $390 and $420.

Robeco Schweiz AG reduced its position in Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) by 25.9% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 111,468 shares of the industrial products company's stock after selling 39,054 shares during the period. Robeco Schweiz AG owned about 0.30% of Applied Industrial Technologies worth $37,040,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. purchased a new position in shares of Applied Industrial Technologies during the 2nd quarter worth $1,336,805,000. Bank of New York Mellon Corp purchased a new stake in shares of Applied Industrial Technologies in the second quarter valued at $93,672,000. First Trust Advisors LP grew its position in shares of Applied Industrial Technologies by 34.3% in the first quarter. First Trust Advisors LP now owns 978,840 shares of the industrial products company's stock valued at $259,706,000 after purchasing an additional 249,961 shares during the period. Bank of America Corp DE purchased a new stake in shares of Applied Industrial Technologies in the second quarter valued at $70,948,000. Finally, Caisse de depot et placement du Quebec acquired a new position in Applied Industrial Technologies in the second quarter valued at $49,539,000. 93.52% of the stock is owned by hedge funds and other institutional investors.

Applied Industrial Technologies Price Performance

Shares of Applied Industrial Technologies stock opened at $316.34 on Friday. The business's fifty day moving average price is $331.41 and its 200 day moving average price is $324.20. Applied Industrial Technologies, Inc. has a twelve month low of $238.72 and a twelve month high of $374.80. The company has a current ratio of 2.58, a quick ratio of 1.75 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $11.62 billion, a P/E ratio of 28.86, a PEG ratio of 2.54 and a beta of 0.85.

Applied Industrial Technologies (NYSE:AIT - Get Free Report) last announced its quarterly earnings results on Thursday, August 13th. The industrial products company reported $3.17 EPS for the quarter, topping the consensus estimate of $2.92 by $0.25. The company had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.29 billion. Applied Industrial Technologies had a return on equity of 22.17% and a net margin of 8.35%. The firm's revenue was up 10.5% on a year-over-year basis. During the same period in the prior year, the firm posted $2.80 earnings per share. Applied Industrial Technologies has set its FY 2027 guidance at 11.650-12.150 EPS. As a group, research analysts anticipate that Applied Industrial Technologies, Inc. will post 12.00 earnings per share for the current year.

Insider Transactions at Applied Industrial Technologies

In other news, CFO David Wells sold 1,812 shares of the business's stock in a transaction dated 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 sale, the chief financial officer owned 32,050 shares in the company, valued at approximately $11,380,955. The trade was a 5.35% 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, Director Peter Wallace sold 1,904 shares of the stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $340.45, for a total transaction of $648,216.80. Following the sale, the director directly owned 22,859 shares of the company's stock, valued at approximately $7,782,346.55. This trade represents a 7.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

AIT has been the topic of several recent analyst reports. DA Davidson increased their target price on Applied Industrial Technologies from $380.00 to $400.00 and gave the stock a "buy" rating in a research report on Friday, August 14th. Robert W. Baird raised their price target on Applied Industrial Technologies from $317.00 to $400.00 and gave the stock an "outperform" rating in a research note on Friday, August 14th. Bank of America lifted their price target on Applied Industrial Technologies from $380.00 to $390.00 and gave the company a "buy" rating in a report on Friday, August 14th. KeyCorp upped their price objective on shares of Applied Industrial Technologies from $375.00 to $420.00 and gave the company an "overweight" rating in a research note on Friday, August 14th. Finally, Weiss Ratings downgraded shares of Applied Industrial Technologies from a "buy (a-)" rating to a "buy (b)" rating in a research note on Friday. Seven investment analysts have rated the stock with a Buy rating. Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $398.33.

Applied Industrial Technologies Profile

Applied Industrial Technologies, Inc NYSE: AIT is a distributor and value-added service provider of industrial motion, power transmission, fluid power, automation, and control products. Its offerings include bearings, mechanical power-transmission components, motors, gearboxes, hydraulic and pneumatic equipment, industrial hoses, process pumps, safety products, and related maintenance supplies.

The company also provides technical and engineering services designed to help customers improve equipment performance, reliability, and productivity.

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