United Services Automobile Association Invests $541,000 in Applied Industrial Technologies, Inc. $AIT

Key Points

• United Services Automobile Association has acquired a new stake in Applied Industrial Technologies, purchasing 2,400 shares valued at approximately $541,000 in the first quarter.
• Wall Street analysts have raised their ratings for Applied Industrial Technologies, with several providing a consensus price target of $285.00 and most analysts rating the stock as a "Moderate Buy."
• Insider trading activity includes VP Kurt W. Loring selling 8,523 shares and CEO Neil A. Schrimsher selling 26,671 shares, both indicating a decrease in their ownership positions.

United Services Automobile Association bought a new stake in shares of Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 2,400 shares of the industrial products company's stock, valued at approximately $541,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. increased its holdings in Applied Industrial Technologies by 7.3% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 3,103 shares of the industrial products company's stock valued at $699,000 after buying an additional 210 shares during the period. Janney Montgomery Scott LLC increased its holdings in Applied Industrial Technologies by 6.6% in the 1st quarter. Janney Montgomery Scott LLC now owns 5,248 shares of the industrial products company's stock valued at $1,183,000 after buying an additional 323 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in Applied Industrial Technologies by 17.7% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 1,501 shares of the industrial products company's stock valued at $338,000 after buying an additional 226 shares during the period. Sequoia Financial Advisors LLC increased its holdings in Applied Industrial Technologies by 26.0% in the 1st quarter. Sequoia Financial Advisors LLC now owns 1,811 shares of the industrial products company's stock valued at $408,000 after buying an additional 374 shares during the period. Finally, Spire Wealth Management increased its holdings in Applied Industrial Technologies by 11.3% in the 1st quarter. Spire Wealth Management now owns 2,583 shares of the industrial products company's stock valued at $582,000 after buying an additional 262 shares during the period. Institutional investors own 93.52% of the company's stock.

Insider Activity at Applied Industrial Technologies

In related news, CEO Neil A. Schrimsher sold 26,671 shares of the stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $262.46, for a total value of $7,000,070.66. Following the sale, 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 position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Jason W. Vasquez sold 7,466 shares of the stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $260.08, for a total transaction of $1,941,757.28. Following the completion of the sale, the vice president owned 14,491 shares in the company, valued at $3,768,819.28. This represents a 34.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 42,660 shares of company stock worth $11,217,980 in the last ninety days. Company insiders own 1.67% of the company's stock.

Applied Industrial Technologies Price Performance

NYSE:AIT traded down $6.65 during mid-day trading on Friday, reaching $263.03. 166,022 shares of the company were exchanged, compared to its average volume of 221,121. Applied Industrial Technologies, Inc. has a 12 month low of $199.96 and a 12 month high of $282.98. The company has a fifty day moving average of $263.67 and a 200 day moving average of $240.86. The company has a quick ratio of 2.36, a current ratio of 3.32 and a debt-to-equity ratio of 0.31. The stock has a market cap of $9.93 billion, a PE ratio of 25.99, a PEG ratio of 2.85 and a beta of 1.00.

Applied Industrial Technologies (NYSE:AIT - Get Free Report) last issued 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. Applied Industrial Technologies had a net margin of 8.61% and a return on equity of 21.78%. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.18 billion. During the same quarter in the prior year, the firm earned $2.64 EPS. The company's revenue was up 5.5% on a year-over-year basis. Applied Industrial Technologies has set its FY 2026 guidance at 10.000-10.75 EPS. On average, research analysts anticipate that Applied Industrial Technologies, Inc. will post 9.9 EPS for the current fiscal year.

Applied Industrial Technologies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were given a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Friday, August 15th. Applied Industrial Technologies's dividend payout ratio (DPR) is currently 18.18%.

Wall Street Analyst Weigh In

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