Vise Technologies Inc. Invests $735,000 in Applied Industrial Technologies, Inc. $AIT

Vise Technologies Inc. bought a new stake in Applied Industrial Technologies, Inc. (NYSE:AIT) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,175 shares of the industrial products company’s stock, valued at approximately $735,000.

Other large investors have also recently made changes to their positions in the company. Torren Management LLC purchased a new position in Applied Industrial Technologies in the 4th quarter worth $25,000. Anchor Investment Management LLC bought a new position in shares of Applied Industrial Technologies during the fourth quarter valued at approximately $32,000. Global Retirement Partners LLC bought a new position in Applied Industrial Technologies in the 2nd quarter worth $37,000. Smartleaf Asset Management LLC raised its stake in Applied Industrial Technologies by 78.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 177 shares of the industrial products company’s stock worth $46,000 after buying an additional 78 shares in the last quarter. Finally, Los Angeles Capital Management LLC bought a new position in shares of Applied Industrial Technologies in the 4th quarter worth approximately $46,000. 93.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on AIT shares. Robert W. Baird increased their price target on shares of Applied Industrial Technologies from $317.00 to $400.00 and gave the stock an “outperform” rating in a research note on Friday, August 14th. Bank of America boosted their target price on Applied Industrial Technologies from $380.00 to $390.00 and gave the stock a “buy” rating in a research report on Friday, August 14th. Mizuho boosted their target price on shares of Applied Industrial Technologies from $355.00 to $400.00 and gave the company an “outperform” rating in a research note on Friday, August 14th. KeyCorp upped their price target on shares of Applied Industrial Technologies from $375.00 to $420.00 and gave the company an “overweight” rating in a research report on Friday, August 14th. Finally, Wall Street Zen raised Applied Industrial Technologies from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Seven research analysts have rated the stock with a Buy rating, According to MarketBeat, Applied Industrial Technologies currently has an average rating of “Buy” and a consensus price target of $400.00.

Insider Activity

In related news, Director Madhuri A. Andrews sold 3,845 shares of Applied Industrial Technologies stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $329.89, for a total value of $1,268,427.05. Following the completion of the transaction, the director owned 4,951 shares in the company, valued at approximately $1,633,285.39. This trade represents a 43.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO David K. Wells sold 1,812 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $355.10, for a total value of $643,441.20. Following the transaction, the chief financial officer directly owned 32,050 shares in the company, valued at approximately $11,380,955. This represents a 5.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.60% of the company’s stock.

Applied Industrial Technologies Price Performance

AIT stock opened at $341.38 on Monday. The company’s fifty day moving average price is $340.04 and its 200-day moving average price is $306.52. Applied Industrial Technologies, Inc. has a one year low of $238.34 and a one year high of $374.80. The company has a market capitalization of $12.53 billion, a PE ratio of 31.15, a price-to-earnings-growth ratio of 2.74 and a beta of 0.84. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.75 and a current ratio of 2.58.

Applied Industrial Technologies (NYSE:AIT) last issued its quarterly earnings data on Thursday, August 13th. The industrial products company reported $3.17 earnings per share for the quarter, beating analysts’ consensus estimates of $2.92 by $0.25. The firm had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.29 billion. Applied Industrial Technologies had a return on equity of 22.17% and a net margin of 8.35%.The business’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same quarter last year, the business posted $2.80 earnings per share. Applied Industrial Technologies has set its FY 2027 guidance at 11.650-12.150 EPS. On average, equities analysts anticipate that Applied Industrial Technologies, Inc. will post 11.95 EPS for the current fiscal year.

Applied Industrial Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Friday, August 14th will be paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Friday, August 14th. Applied Industrial Technologies’s dividend payout ratio (DPR) is presently 18.61%.

Applied Industrial Technologies Company Profile

Applied Industrial Technologies, listed on the New York Stock Exchange under the symbol AIT, is a leading distributor of industrial products and services. The company offers a comprehensive range of bearings, power transmission components, fluid power products, industrial rubber products, and automation solutions. Through its network of distribution centers and branch locations, Applied Industrial Technologies serves diverse end markets including manufacturing, oil and gas, mining, food and beverage, and wastewater treatment.

Founded in 1923 and headquartered in Cleveland, Ohio, Applied Industrial Technologies has grown through a combination of organic expansion and strategic acquisitions.