Louisiana State Employees Retirement System Cuts Stock Position in Applied Industrial Technologies, Inc. $AIT

Louisiana State Employees Retirement System lessened its stake in Applied Industrial Technologies, Inc. (NYSE:AIT) by 0.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,700 shares of the industrial products company’s stock after selling 100 shares during the period. Louisiana State Employees Retirement System’s holdings in Applied Industrial Technologies were worth $2,487,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AIT. Alliancebernstein L.P. grew its stake in Applied Industrial Technologies by 452.6% in the first quarter. Alliancebernstein L.P. now owns 436,565 shares of the industrial products company’s stock valued at $98,376,000 after purchasing an additional 357,568 shares during the last quarter. Nuveen LLC purchased a new position in Applied Industrial Technologies in the first quarter valued at about $67,365,000. Millennium Management LLC grew its stake in shares of Applied Industrial Technologies by 144.0% during the first quarter. Millennium Management LLC now owns 320,903 shares of the industrial products company’s stock worth $72,312,000 after acquiring an additional 189,408 shares during the last quarter. Alyeska Investment Group L.P. grew its stake in shares of Applied Industrial Technologies by 27.9% during the first quarter. Alyeska Investment Group L.P. now owns 602,798 shares of the industrial products company’s stock worth $135,835,000 after acquiring an additional 131,465 shares during the last quarter. Finally, Voya Investment Management LLC grew its stake in shares of Applied Industrial Technologies by 522.2% during the first quarter. Voya Investment Management LLC now owns 143,696 shares of the industrial products company’s stock worth $32,380,000 after acquiring an additional 120,602 shares during the last quarter. Hedge funds and other institutional investors own 93.52% of the company’s stock.

Insider Buying and Selling

In related news, CEO Neil A. Schrimsher sold 26,671 shares of Applied Industrial Technologies stock in a transaction dated Thursday, August 21st. The stock was 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. The trade was 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 this hyperlink. Also, VP Kurt W. Loring sold 8,523 shares of the business’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $267.06, for a total value of $2,276,152.38. Following the completion of the transaction, the vice president directly owned 19,273 shares of the company’s stock, valued at $5,147,047.38. The trade was a 30.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 42,660 shares of company stock valued at $11,217,980 over the last quarter. 1.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on AIT shares. Weiss Ratings restated a “buy (b)” rating on shares of Applied Industrial Technologies in a research note on Wednesday. Bank of America boosted 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. Robert W. Baird boosted their price target 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. Industrial Alliance Securities set a $290.00 price target on Applied Industrial Technologies in a research note on Friday, August 22nd. Finally, Raymond James Financial lowered Applied Industrial Technologies from an “outperform” rating to a “market perform” rating in a research note on Friday, August 15th. Seven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $285.00.

Applied Industrial Technologies Trading Down 2.1%

Applied Industrial Technologies stock opened at $245.81 on Friday. The company has a quick ratio of 2.36, a current ratio of 3.32 and a debt-to-equity ratio of 0.31. Applied Industrial Technologies, Inc. has a 52 week low of $199.96 and a 52 week high of $282.98. The company has a market capitalization of $9.28 billion, a price-to-earnings ratio of 24.29, a price-to-earnings-growth ratio of 2.65 and a beta of 0.96. The stock has a 50-day moving average price of $262.58 and a 200 day moving average price of $244.63.

Applied Industrial Technologies (NYSE:AIT) last released its earnings results 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 return on equity of 21.78% and a net margin of 8.61%.The firm had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter in the previous year, the company posted $2.64 earnings per share. The company’s revenue 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. Sell-side analysts anticipate that Applied Industrial Technologies, Inc. will post 9.9 EPS for the current year.

Applied Industrial Technologies 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.