FORA Capital LLC Has $255,000 Stock Position in Applied Industrial Technologies, Inc. $AIT

FORA Capital LLC decreased its stake in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 88.0% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,132 shares of the industrial products company’s stock after selling 8,322 shares during the quarter. FORA Capital LLC’s holdings in Applied Industrial Technologies were worth $255,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in AIT. GAMMA Investing LLC increased its position in shares of Applied Industrial Technologies by 34,002.9% during the 1st quarter. GAMMA Investing LLC now owns 318,180 shares of the industrial products company’s stock worth $716,990,000 after purchasing an additional 317,247 shares during the last quarter. Nuveen LLC bought a new position in shares of Applied Industrial Technologies during the 1st quarter worth approximately $67,365,000. Tidal Investments LLC boosted its stake in shares of Applied Industrial Technologies by 2,936.6% during the 4th quarter. Tidal Investments LLC now owns 69,265 shares of the industrial products company’s stock worth $16,587,000 after acquiring an additional 66,984 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of Applied Industrial Technologies by 62.5% during the 1st quarter. Ameriprise Financial Inc. now owns 162,990 shares of the industrial products company’s stock worth $36,728,000 after acquiring an additional 62,710 shares during the period. Finally, Fiera Capital Corp boosted its stake in shares of Applied Industrial Technologies by 44.9% during the 1st quarter. Fiera Capital Corp now owns 185,018 shares of the industrial products company’s stock worth $41,692,000 after acquiring an additional 57,328 shares during the period. Institutional investors and hedge funds own 93.52% of the company’s stock.

Insider Activity

In related news, CEO Neil A. Schrimsher sold 26,671 shares of the company’s stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $262.46, for a total transaction of $7,000,070.66. Following the completion of the sale, the chief executive officer owned 149,735 shares of the company’s stock, valued at $39,299,448.10. This represents a 15.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Jason W. Vasquez sold 7,466 shares of the company’s stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $260.08, for a total transaction of $1,941,757.28. Following the sale, the vice president directly owned 14,491 shares of the company’s stock, valued at $3,768,819.28. This represents a 34.00% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 42,660 shares of company stock worth $11,217,980. 1.67% of the stock is currently owned by company insiders.

Applied Industrial Technologies Stock Performance

AIT opened at $263.43 on Friday. The business has a fifty day simple moving average of $258.15 and a 200 day simple moving average of $240.52. The company has a market capitalization of $9.95 billion, a PE ratio of 26.03, a price-to-earnings-growth ratio of 2.81 and a beta of 0.94. Applied Industrial Technologies, Inc. has a 1 year low of $191.31 and a 1 year high of $282.98. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.32 and a quick ratio of 2.36.

Applied Industrial Technologies (NYSE:AIT) last announced its earnings results on Thursday, August 14th. The industrial products company reported $2.80 EPS for the quarter, topping the consensus estimate 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 company had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.18 billion. During the same period last year, the firm earned $2.64 earnings per share. The business’s revenue for the quarter 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. Research analysts expect that Applied Industrial Technologies, Inc. will post 9.9 EPS for the current year.

Applied Industrial Technologies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were given a dividend of $0.46 per share. 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 is presently 18.18%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Wall Street Zen upgraded Applied Industrial Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, July 26th. Oppenheimer lifted their target price on Applied Industrial Technologies from $290.00 to $300.00 and gave the stock an “outperform” rating in a research note on Friday, August 15th. Raymond James Financial downgraded Applied Industrial Technologies from an “outperform” rating to a “market perform” rating in a research note on Friday, August 15th. Industrial Alliance Securities set a $290.00 target price on Applied Industrial Technologies in a research note on Friday, August 22nd. Finally, Robert W. Baird lifted their target price on Applied Industrial Technologies from $265.00 to $300.00 and gave the stock an “outperform” rating in a research note on Friday, August 15th. Six analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Applied Industrial Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $285.00.

About Applied Industrial Technologies

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.