Applied Industrial Technologies, Inc. $AIT Shares Bought by MQS Management LLC

MQS Management LLC raised its stake in Applied Industrial Technologies, Inc. (NYSE:AIT) by 19.3% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,235 shares of the industrial products company’s stock after purchasing an additional 361 shares during the quarter. MQS Management LLC’s holdings in Applied Industrial Technologies were worth $520,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Alyeska Investment Group L.P. boosted its holdings in shares of Applied Industrial Technologies by 27.9% in the 1st quarter. Alyeska Investment Group L.P. now owns 602,798 shares of the industrial products company’s stock valued at $135,835,000 after purchasing an additional 131,465 shares during the last quarter. Boston Trust Walden Corp boosted its holdings in shares of Applied Industrial Technologies by 2.0% in the 2nd quarter. Boston Trust Walden Corp now owns 508,120 shares of the industrial products company’s stock valued at $118,113,000 after purchasing an additional 10,015 shares during the last quarter. Alliancebernstein L.P. lifted its holdings in shares of Applied Industrial Technologies by 452.6% during the 1st quarter. Alliancebernstein L.P. now owns 436,565 shares of the industrial products company’s stock valued at $98,376,000 after acquiring an additional 357,568 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Applied Industrial Technologies by 4.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 381,187 shares of the industrial products company’s stock valued at $85,897,000 after acquiring an additional 14,926 shares in the last quarter. Finally, Millennium Management LLC lifted its holdings in shares of Applied Industrial Technologies by 144.0% during the 1st quarter. Millennium Management LLC now owns 320,903 shares of the industrial products company’s stock valued at $72,312,000 after acquiring an additional 189,408 shares in the last quarter. Institutional investors and hedge funds own 93.52% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on AIT shares. Weiss Ratings restated a “buy (b)” rating on shares of Applied Industrial Technologies in a report on Friday. Oppenheimer lifted their target price on shares of Applied Industrial Technologies from $290.00 to $300.00 and gave the company an “outperform” rating in a report on Friday, August 15th. Industrial Alliance Securities set a $290.00 target price on shares of Applied Industrial Technologies in a report on Friday, August 22nd. Robert W. Baird lifted their target price on shares of Applied Industrial Technologies from $265.00 to $300.00 and gave the company an “outperform” rating in a report on Friday, August 15th. Finally, Wall Street Zen upgraded shares of Applied Industrial Technologies from a “hold” rating to a “buy” rating in a report on Saturday, July 26th. Six investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $285.00.

Applied Industrial Technologies Stock Performance

Applied Industrial Technologies stock opened at $260.07 on Friday. Applied Industrial Technologies, Inc. has a 12-month low of $199.96 and a 12-month high of $282.98. The company has a market capitalization of $9.82 billion, a price-to-earnings ratio of 25.70, a price-to-earnings-growth ratio of 2.75 and a beta of 0.96. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.32 and a quick ratio of 2.36. The firm’s fifty day moving average price is $259.74 and its 200 day moving average price is $246.97.

Applied Industrial Technologies (NYSE:AIT) last released its quarterly earnings results on Thursday, August 14th. The industrial products company reported $2.80 earnings per share (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 firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter in the previous year, the firm posted $2.64 EPS. The firm’s quarterly revenue 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. On average, research analysts forecast that Applied Industrial Technologies, Inc. will post 9.9 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Neil A. Schrimsher sold 26,671 shares of Applied Industrial Technologies 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 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 position. The transaction 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 Applied Industrial Technologies stock in a transaction 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 sale, the vice president directly owned 19,273 shares in the company, valued at $5,147,047.38. This trade 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 valued at $11,217,980 in the last quarter. Company insiders own 1.60% of the company’s stock.

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.