Thurston Springer Miller Herd & Titak Inc. Increases Holdings in Applied Industrial Technologies, Inc. $AIT

Key Points

• Thurston Springer Miller Herd & Titak Inc. has increased its stake in Applied Industrial Technologies, Inc. by 22.9%, holding 7,035 shares valued at $1,635,000 at the end of the recent quarter.
• Analysts are generally optimistic about AIT, with Bank of America and Industrial Alliance both setting a price target of $290.00, while the average consensus rating is a "Moderate Buy".
• Applied Industrial Technologies reported $2.80 EPS for the most recent quarter, exceeding estimates, and has declared a quarterly dividend of $0.46 per share, yielding 0.7% annually.

Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) by 22.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,035 shares of the industrial products company's stock after acquiring an additional 1,311 shares during the quarter. Thurston Springer Miller Herd & Titak Inc.'s holdings in Applied Industrial Technologies were worth $1,635,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. MassMutual Private Wealth & Trust FSB boosted its position in Applied Industrial Technologies by 51.2% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 130 shares of the industrial products company's stock worth $29,000 after acquiring an additional 44 shares during the period. Rise Advisors LLC lifted its stake in shares of Applied Industrial Technologies by 111.1% during the first quarter. Rise Advisors LLC now owns 133 shares of the industrial products company's stock valued at $30,000 after acquiring an additional 70 shares during the period. Harbor Investment Advisory LLC increased its holdings in Applied Industrial Technologies by 97.5% in the first quarter. Harbor Investment Advisory LLC now owns 160 shares of the industrial products company's stock valued at $36,000 after purchasing an additional 79 shares during the last quarter. Wayfinding Financial LLC bought a new position in shares of Applied Industrial Technologies during the first quarter worth about $38,000. Finally, Opal Wealth Advisors LLC bought a new position in shares of Applied Industrial Technologies during the 1st quarter worth approximately $41,000. Institutional investors and hedge funds own 93.52% of the company's stock.

Insider Transactions at Applied Industrial Technologies

In other news, VP Jason W. Vasquez sold 7,466 shares of Applied Industrial Technologies stock in a transaction that occurred on 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 directly owned 14,491 shares of the company's stock, valued at $3,768,819.28. This trade represents a 34.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Kurt W. Loring sold 8,523 shares of the company's stock in a transaction 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 sale, the vice president directly owned 19,273 shares of the company's stock, valued at approximately $5,147,047.38. This represents a 30.66% 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 valued at $11,217,980 over the last ninety days. Corporate insiders own 1.60% of the company's stock.

Applied Industrial Technologies Stock Performance

Applied Industrial Technologies stock traded down $3.84 during midday trading on Friday, hitting $258.94. 64,134 shares of the company's stock were exchanged, compared to its average volume of 384,709. The stock has a market cap of $9.77 billion, a price-to-earnings ratio of 25.59, a price-to-earnings-growth ratio of 2.74 and a beta of 1.00. The firm's 50 day simple moving average is $264.62 and its 200 day simple moving average is $241.34. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.36 and a current ratio of 3.32. Applied Industrial Technologies, Inc. has a 12-month low of $199.96 and a 12-month 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 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 net margin of 8.61% and a return on equity of 21.78%. The firm's revenue was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.64 earnings per share. Applied Industrial Technologies has set its FY 2026 guidance at 10.000-10.75 EPS. Equities research analysts predict that Applied Industrial Technologies, Inc. will post 9.9 EPS for the current year.

Applied Industrial Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were paid a $0.46 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $1.84 annualized dividend and a dividend yield of 0.7%. Applied Industrial Technologies's payout ratio is currently 18.18%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Industrial Alliance Securities set a $290.00 price target on Applied Industrial Technologies in a report on Friday, August 22nd. Bank of America lifted their price target on Applied Industrial Technologies from $275.00 to $290.00 and gave the stock a "buy" rating in a research note on Friday, August 22nd. Oppenheimer upped 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. Wall Street Zen raised Applied Industrial Technologies from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Finally, Robert W. Baird raised their price objective 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. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $285.00.

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.