AlphaQuest LLC Acquires Shares of 4,121 Applied Industrial Technologies, Inc. $AIT

AlphaQuest LLC acquired a new stake in Applied Industrial Technologies, Inc. (NYSE:AIT) during the second quarter, Holdings Channel.com reports. The institutional investor acquired 4,121 shares of the industrial products company’s stock, valued at approximately $958,000.

A number of other institutional investors also recently added to or reduced their stakes in the business. Rise Advisors LLC boosted its stake in shares of Applied Industrial Technologies by 111.1% during the 1st quarter. Rise Advisors LLC now owns 133 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 70 shares in the last quarter. Maseco LLP purchased a new stake in shares of Applied Industrial Technologies during the 2nd quarter worth approximately $35,000. Wayfinding Financial LLC purchased a new stake in shares of Applied Industrial Technologies during the 1st quarter worth approximately $38,000. SVB Wealth LLC purchased a new stake in shares of Applied Industrial Technologies during the 1st quarter worth approximately $48,000. Finally, First Horizon Advisors Inc. boosted its stake in shares of Applied Industrial Technologies by 31.1% during the 1st quarter. First Horizon Advisors Inc. now owns 215 shares of the industrial products company’s stock worth $48,000 after acquiring an additional 51 shares in the last quarter. Hedge funds and other institutional investors own 93.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on AIT shares. Oppenheimer boosted their price target on Applied Industrial Technologies from $290.00 to $300.00 and gave the stock an “outperform” rating in a research note on Friday, August 15th. 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. Industrial Alliance Securities set a $290.00 price target on Applied Industrial Technologies in a research note on Friday, August 22nd. Wall Street Zen raised Applied Industrial Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, July 26th. Finally, Robert W. Baird lifted their price objective on Applied Industrial Technologies from $265.00 to $300.00 and gave the stock an “outperform” rating in a research report on Friday, August 15th. Six research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $285.00.

Applied Industrial Technologies Stock Up 0.0%

Shares of NYSE AIT opened at $260.07 on Friday. Applied Industrial Technologies, Inc. has a 52-week low of $199.96 and a 52-week high of $282.98. The firm has a fifty day moving average of $259.74 and a 200-day moving average of $246.97. The stock has a market capitalization of $9.82 billion, a PE ratio of 25.70, a P/E/G ratio of 2.75 and a beta of 0.96. 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 (NYSE:AIT) last announced 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. 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 in the previous year, the company earned $2.64 EPS. The business’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, analysts anticipate that Applied Industrial Technologies, Inc. will post 9.9 EPS for the current year.

Insider Buying and Selling

In other Applied Industrial Technologies news, VP Jason W. Vasquez sold 7,466 shares of the company’s stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $260.08, for a total value of $1,941,757.28. Following the completion of the transaction, the vice president directly owned 14,491 shares of the company’s stock, valued at $3,768,819.28. This represents a 34.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Neil A. Schrimsher sold 26,671 shares of the company’s stock in a transaction dated 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 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. The trade was a 15.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 42,660 shares of company stock valued at $11,217,980. Company 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.