Applied Industrial Technologies, Inc. $AIT Shares Sold by Ifrah Financial Services Inc.

Ifrah Financial Services Inc. lowered its holdings in Applied Industrial Technologies, Inc. (NYSE:AIT) by 1.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,756 shares of the industrial products company’s stock after selling 85 shares during the quarter. Ifrah Financial Services Inc.’s holdings in Applied Industrial Technologies were worth $1,106,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. increased its stake in shares of Applied Industrial Technologies by 7.3% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 3,103 shares of the industrial products company’s stock worth $699,000 after acquiring an additional 210 shares during the period. Janney Montgomery Scott LLC grew its position in Applied Industrial Technologies by 6.6% during the first 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 grew its position in Applied Industrial Technologies by 17.7% during the first 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 grew its position in Applied Industrial Technologies by 26.0% during the first 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 grew its position in Applied Industrial Technologies by 11.3% during the first 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 and hedge funds own 93.52% of the company’s stock.

Applied Industrial Technologies Stock Performance

AIT opened at $247.91 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. The company has a market cap of $9.36 billion, a price-to-earnings ratio of 24.50, a PEG ratio of 2.59 and a beta of 0.96. Applied Industrial Technologies, Inc. has a 52-week low of $199.96 and a 52-week high of $282.98. The firm’s fifty day simple moving average is $260.83 and its two-hundred day simple moving average is $245.27.

Applied Industrial Technologies (NYSE:AIT) last posted its quarterly earnings data on Thursday, August 14th. The industrial products company reported $2.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.60 by $0.20. The business 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 company’s revenue was up 5.5% compared to the same quarter last year. During the same period last year, the firm posted $2.64 earnings per share. Applied Industrial Technologies has set its FY 2026 guidance at 10.000-10.75 EPS. Equities analysts anticipate that Applied Industrial Technologies, Inc. will post 9.9 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Industrial Alliance Securities set a $290.00 price target on shares of Applied Industrial Technologies in a research report on Friday, August 22nd. Robert W. Baird raised their price target on shares of Applied Industrial Technologies from $265.00 to $300.00 and gave the company an “outperform” rating in a research report on Friday, August 15th. Weiss Ratings restated a “buy (b)” rating on shares of Applied Industrial Technologies in a research report on Wednesday, October 8th. Bank of America raised their price target on shares of Applied Industrial Technologies from $275.00 to $290.00 and gave the company a “buy” rating in a research report on Friday, August 22nd. Finally, Raymond James Financial lowered shares of Applied Industrial Technologies from an “outperform” rating to a “market perform” rating in a research report on Friday, August 15th. Seven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $285.00.

Insider Buying and Selling at Applied Industrial Technologies

In other Applied Industrial Technologies news, CEO Neil A. Schrimsher sold 26,671 shares of the stock in a transaction on 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 directly owned 149,735 shares of the company’s stock, valued at $39,299,448.10. This trade represents a 15.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Kurt W. Loring sold 8,523 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the vice president directly owned 19,273 shares in the company, 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 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.