Applied Industrial Technologies, Inc. $AIT Shares Acquired by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC lifted its holdings in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 11.3% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,015 shares of the industrial products company’s stock after buying an additional 204 shares during the period. Sequoia Financial Advisors LLC’s holdings in Applied Industrial Technologies were worth $468,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Applied Industrial Technologies by 7.3% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 3,103 shares of the industrial products company’s stock worth $699,000 after buying an additional 210 shares during the period. Janney Montgomery Scott LLC boosted its stake in shares of 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 worth $1,183,000 after buying an additional 323 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in shares of 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 worth $338,000 after buying an additional 226 shares during the period. Spire Wealth Management boosted its stake in shares of 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 worth $582,000 after buying an additional 262 shares during the period. Finally, Oppenheimer Asset Management Inc. boosted its stake in shares of Applied Industrial Technologies by 34.7% during the first quarter. Oppenheimer Asset Management Inc. now owns 3,938 shares of the industrial products company’s stock worth $887,000 after buying an additional 1,014 shares during the period. Institutional investors and hedge funds own 93.52% of the company’s stock.

Applied Industrial Technologies Trading Up 0.9%

Shares of Applied Industrial Technologies stock opened at $250.17 on Tuesday. Applied Industrial Technologies, Inc. has a 12-month low of $199.96 and a 12-month high of $282.98. The company has a current ratio of 3.32, a quick ratio of 2.36 and a debt-to-equity ratio of 0.31. The stock has a market cap of $9.44 billion, a PE ratio of 24.72, a price-to-earnings-growth ratio of 2.62 and a beta of 0.96. The company has a 50-day moving average of $260.58 and a two-hundred day moving average of $245.81.

Applied Industrial Technologies (NYSE:AIT) last issued its earnings results 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 company had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.18 billion. During the same period last year, the company posted $2.64 earnings per share. The firm’s quarterly 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. On average, research analysts anticipate that Applied Industrial Technologies, Inc. will post 9.9 EPS for the current fiscal year.

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 dated 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 completion of the transaction, the chief executive officer directly owned 149,735 shares of the company’s stock, valued at approximately $39,299,448.10. This trade represents a 15.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Kurt W. Loring sold 8,523 shares of the firm’s stock in a transaction that occurred on 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 transaction, the vice president directly owned 19,273 shares of the company’s stock, valued at approximately $5,147,047.38. This trade represents a 30.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 42,660 shares of company stock valued at $11,217,980. Corporate insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on AIT. Raymond James Financial cut shares of Applied Industrial Technologies from an “outperform” rating to a “market perform” rating in a report on Friday, August 15th. Industrial Alliance Securities set a $290.00 price target on shares of Applied Industrial Technologies in a report on Friday, August 22nd. Bank of America increased their price target 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. Weiss Ratings reissued a “buy (b)” rating on shares of Applied Industrial Technologies in a report on Wednesday, October 8th. Finally, Wall Street Zen raised shares of Applied Industrial Technologies from a “hold” rating to a “buy” rating in a report on Saturday, July 26th. Seven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $285.00.

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.