Ausbil Investment Management Ltd Buys 100 Shares of Applied Industrial Technologies, Inc. $AIT

Ausbil Investment Management Ltd lifted its stake in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 0.8% in the second quarter, according to its most recent filing with the SEC. The fund owned 12,067 shares of the industrial products company’s stock after acquiring an additional 100 shares during the period. Applied Industrial Technologies makes up 1.6% of Ausbil Investment Management Ltd’s investment portfolio, making the stock its 27th biggest position. Ausbil Investment Management Ltd’s holdings in Applied Industrial Technologies were worth $2,805,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in AIT. Two Sigma Investments LP lifted its holdings in shares of Applied Industrial Technologies by 1.4% during the 4th quarter. Two Sigma Investments LP now owns 4,676 shares of the industrial products company’s stock worth $1,120,000 after acquiring an additional 64 shares during the last quarter. Mackenzie Financial Corp lifted its holdings in shares of Applied Industrial Technologies by 37.8% during the 4th quarter. Mackenzie Financial Corp now owns 3,389 shares of the industrial products company’s stock worth $812,000 after acquiring an additional 930 shares during the last quarter. Jefferies Financial Group Inc. bought a new stake in shares of Applied Industrial Technologies during the 4th quarter worth $327,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Applied Industrial Technologies during the 4th quarter worth $11,938,000. Finally, Wealth Enhancement Advisory Services LLC raised its position in Applied Industrial Technologies by 30.9% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 1,275 shares of the industrial products company’s stock worth $305,000 after purchasing an additional 301 shares during the period. 93.52% of the stock is owned by institutional investors.

Insider Activity at Applied Industrial Technologies

In related news, CEO Neil A. Schrimsher sold 26,671 shares of the business’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 transaction, the chief executive officer owned 149,735 shares in the company, valued at $39,299,448.10. The trade was a 15.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Kurt W. Loring sold 8,523 shares of the business’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $267.06, for a total transaction of $2,276,152.38. Following the transaction, the vice president owned 19,273 shares in the company, valued at $5,147,047.38. This represents a 30.66% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 42,660 shares of company stock worth $11,217,980 over the last 90 days. 1.60% of the stock is owned by company insiders.

Applied Industrial Technologies Price Performance

AIT stock opened at $261.55 on Friday. The firm’s 50-day moving average price is $265.16 and its two-hundred day moving average price is $242.79. Applied Industrial Technologies, Inc. has a 12-month low of $199.96 and a 12-month high of $282.98. The stock has a market capitalization of $9.87 billion, a price-to-earnings ratio of 25.85, a PEG ratio of 2.76 and a beta of 1.00. The company has a current ratio of 3.32, a quick ratio of 2.36 and a debt-to-equity ratio of 0.31.

Applied Industrial Technologies (NYSE:AIT) last released its quarterly earnings data on Thursday, August 14th. The industrial products company reported $2.80 earnings per share (EPS) for the quarter, beating 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 analysts’ expectations of $1.18 billion. During the same quarter in the previous year, the company earned $2.64 earnings per share. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. Applied Industrial Technologies has set its FY 2026 guidance at 10.000-10.75 EPS. As a group, equities analysts predict that Applied Industrial Technologies, Inc. will post 9.9 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on AIT shares. Oppenheimer raised their price objective on Applied Industrial Technologies from $290.00 to $300.00 and gave the company 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 report on Friday, August 15th. Bank of America lifted their price objective on 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 lifted their price objective on Applied Industrial Technologies from $265.00 to $300.00 and gave the stock an “outperform” rating in a report on Friday, August 15th. Finally, Wall Street Zen upgraded Applied Industrial Technologies from a “hold” rating to a “buy” rating in a report on Saturday, July 26th. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Applied Industrial Technologies has an average rating of “Moderate Buy” and an average 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.