Oppenheimer Asset Management Inc. Increases Position in Applied Industrial Technologies, Inc. $AIT

Oppenheimer Asset Management Inc. boosted its holdings in Applied Industrial Technologies, Inc. (NYSE:AIT) by 64.3% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,471 shares of the industrial products company’s stock after purchasing an additional 2,533 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Applied Industrial Technologies were worth $1,504,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the business. 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 buying an additional 210 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Applied Industrial Technologies by 17.7% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 1,501 shares of the industrial products company’s stock valued at $338,000 after acquiring an additional 226 shares during the last quarter. Sequoia Financial Advisors LLC grew its holdings in Applied Industrial Technologies by 26.0% during the 1st quarter. Sequoia Financial Advisors LLC now owns 1,811 shares of the industrial products company’s stock worth $408,000 after acquiring an additional 374 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Applied Industrial Technologies by 51.3% in the 1st quarter. GAMMA Investing LLC now owns 1,412 shares of the industrial products company’s stock worth $318,000 after purchasing an additional 479 shares during the last quarter. Finally, 111 Capital bought a new stake in shares of Applied Industrial Technologies in the 2nd quarter worth about $980,000. Institutional investors and hedge funds own 93.52% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on AIT. Bank of America lifted 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 increased their target price on Applied Industrial Technologies from $265.00 to $300.00 and gave the stock an “outperform” rating in a report on Friday, August 15th. Oppenheimer boosted their price target on Applied Industrial Technologies from $290.00 to $300.00 and gave the company an “outperform” rating in a report on Friday, August 15th. Weiss Ratings reissued a “buy (b)” rating on shares of Applied Industrial Technologies in a research report on Wednesday, October 8th. Finally, Mizuho set a $305.00 price objective on Applied Industrial Technologies in a research note on Wednesday. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $287.50.

Applied Industrial Technologies Stock Up 0.8%

Applied Industrial Technologies stock opened at $256.05 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.36 and a current ratio of 3.55. Applied Industrial Technologies, Inc. has a one year low of $199.96 and a one year high of $282.98. The company has a 50-day simple moving average of $259.40 and a 200-day simple moving average of $247.79. The firm has a market capitalization of $9.67 billion, a P/E ratio of 24.64, a P/E/G ratio of 2.61 and a beta of 0.96.

Applied Industrial Technologies (NYSE:AIT) last issued its quarterly earnings data on Tuesday, October 28th. The industrial products company reported $2.63 earnings per share for the quarter, beating the consensus estimate of $2.47 by $0.16. Applied Industrial Technologies had a net margin of 8.61% and a return on equity of 21.86%. The firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same period last year, the firm posted $2.36 EPS. Applied Industrial Technologies’s quarterly revenue was up 9.2% compared to the same quarter last year. Applied Industrial Technologies has set its FY 2026 guidance at 10.100-10.850 EPS. As a group, equities analysts expect that Applied Industrial Technologies, Inc. will post 9.9 earnings per share for the current year.

Applied Industrial Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, November 14th will be issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Friday, November 14th. Applied Industrial Technologies’s dividend payout ratio is 17.71%.

Insider Buying and Selling

In related news, CEO Neil A. Schrimsher sold 26,671 shares of the firm’s stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $262.46, for a total value of $7,000,070.66. Following the sale, the chief executive officer directly owned 149,735 shares in the company, valued at $39,299,448.10. This trade represents a 15.12% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Jason W. Vasquez sold 7,466 shares of the business’s stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $260.08, for a total value of $1,941,757.28. Following the transaction, the vice president owned 14,491 shares of the company’s stock, valued at $3,768,819.28. This trade represents a 34.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 42,660 shares of company stock valued at $11,217,980 in the last three months. 1.60% of the stock is currently owned by corporate insiders.

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.