6,923 Shares in Applied Industrial Technologies, Inc. $AIT Purchased by Van Hulzen Asset Management LLC

Van Hulzen Asset Management LLC acquired a new position in Applied Industrial Technologies, Inc. (NYSE:AIT) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 6,923 shares of the industrial products company’s stock, valued at approximately $2,341,000.

Several other large investors have also modified their holdings of the business. Torren Management LLC bought a new position in shares of Applied Industrial Technologies during the fourth quarter valued at approximately $25,000. Anchor Investment Management LLC bought a new stake in shares of Applied Industrial Technologies during the 4th quarter worth approximately $32,000. Global Retirement Partners LLC bought a new stake in shares of Applied Industrial Technologies during the 2nd quarter worth approximately $37,000. Kilter Group LLC purchased a new position in Applied Industrial Technologies during the 2nd quarter valued at $40,000. Finally, Smartleaf Asset Management LLC boosted its holdings in Applied Industrial Technologies by 78.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 177 shares of the industrial products company’s stock valued at $46,000 after acquiring an additional 78 shares during the period. Hedge funds and other institutional investors own 93.52% of the company’s stock.

Insider Activity at Applied Industrial Technologies

In other Applied Industrial Technologies news, Director Madhuri A. Andrews sold 3,845 shares of the company’s stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $329.89, for a total transaction of $1,268,427.05. Following the completion of the sale, the director owned 4,951 shares in the company, valued at $1,633,285.39. This represents a 43.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO David K. Wells sold 1,812 shares of the stock in a transaction 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 sale, the chief financial officer directly owned 32,050 shares in the company, valued at $11,380,955. This trade represents a 5.35% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 1.60% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Applied Industrial Technologies in a research report on Tuesday, July 21st. KeyCorp lifted their target price on Applied Industrial Technologies from $375.00 to $420.00 and gave the stock an “overweight” rating in a research report on Friday, August 14th. Oppenheimer boosted their target price on shares of Applied Industrial Technologies from $350.00 to $390.00 and gave the company an “outperform” rating in a research note on Friday, August 14th. Robert W. Baird upped their price target on shares of Applied Industrial Technologies from $317.00 to $400.00 and gave the stock an “outperform” rating in a report on Friday, August 14th. Finally, Mizuho raised their price target on shares of Applied Industrial Technologies from $355.00 to $400.00 and gave the stock an “outperform” rating in a research note on Friday, August 14th. Seven investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $400.00.

Applied Industrial Technologies Trading Down 0.8%

AIT opened at $338.74 on Tuesday. The company has a quick ratio of 1.75, a current ratio of 2.58 and a debt-to-equity ratio of 0.14. The stock’s fifty day moving average is $340.49 and its two-hundred day moving average is $306.99. The company has a market capitalization of $12.43 billion, a P/E ratio of 30.91, a PEG ratio of 2.74 and a beta of 0.84. Applied Industrial Technologies, Inc. has a 52 week low of $238.34 and a 52 week high of $374.80.

Applied Industrial Technologies (NYSE:AIT) last issued its earnings results on Thursday, August 13th. The industrial products company reported $3.17 earnings per share for the quarter, topping the consensus estimate of $2.92 by $0.25. The business had revenue of $1.35 billion during the quarter, compared to analysts’ expectations 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 revenue for the quarter was up 10.5% compared to the same quarter last year. During the same period in the prior year, the business earned $2.80 EPS. Applied Industrial Technologies has set its FY 2027 guidance at 11.650-12.150 EPS. Analysts forecast that Applied Industrial Technologies, Inc. will post 11.95 earnings per share for the current year.

Applied Industrial Technologies Dividend Announcement

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