Linden Thomas Advisory Services LLC Cuts Position in Applied Industrial Technologies, Inc. $AIT

Linden Thomas Advisory Services LLC lessened its holdings in Applied Industrial Technologies, Inc. (NYSE:AIT) by 7.5% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,757 shares of the industrial products company’s stock after selling 383 shares during the period. Linden Thomas Advisory Services LLC’s holdings in Applied Industrial Technologies were worth $1,106,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Rise Advisors LLC boosted its stake in shares of Applied Industrial Technologies by 111.1% in the 1st quarter. Rise Advisors LLC now owns 133 shares of the industrial products company’s stock worth $30,000 after buying an additional 70 shares during the last quarter. Maseco LLP purchased a new position in Applied Industrial Technologies in the second quarter valued at approximately $35,000. Wayfinding Financial LLC purchased a new position in Applied Industrial Technologies in the first quarter valued at approximately $38,000. SVB Wealth LLC purchased a new position in Applied Industrial Technologies in the first quarter valued at approximately $48,000. Finally, First Horizon Advisors Inc. lifted its stake in Applied Industrial Technologies by 31.1% in the first quarter. First Horizon Advisors Inc. now owns 215 shares of the industrial products company’s stock valued at $48,000 after purchasing an additional 51 shares during the last quarter. Hedge funds and other institutional investors own 93.52% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on AIT. Robert W. Baird upped their price objective on Applied Industrial Technologies from $265.00 to $300.00 and gave the company an “outperform” rating in a research note on Friday, August 15th. Raymond James Financial downgraded Applied Industrial Technologies from an “outperform” rating to a “market perform” rating in a research note on Friday, August 15th. Weiss Ratings reiterated a “buy (b)” rating on shares of Applied Industrial Technologies in a research note on Friday. Industrial Alliance Securities set a $290.00 price objective on Applied Industrial Technologies in a research note on Friday, August 22nd. Finally, Bank of America upped their price objective on Applied Industrial Technologies from $275.00 to $290.00 and gave the company a “buy” rating in a research note on Friday, August 22nd. Six research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $285.00.

Insider Transactions at Applied Industrial Technologies

In other news, CEO Neil A. Schrimsher sold 26,671 shares of the company’s stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $262.46, for a total value of $7,000,070.66. Following the transaction, the chief executive officer owned 149,735 shares of the company’s stock, valued at approximately $39,299,448.10. This represents a 15.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Jason W. Vasquez sold 7,466 shares of the company’s stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $260.08, for a total transaction of $1,941,757.28. Following the completion of the transaction, the vice president directly owned 14,491 shares in the company, valued at approximately $3,768,819.28. The trade was a 34.00% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 42,660 shares of company stock valued at $11,217,980. 1.60% of the stock is currently owned by company insiders.

Applied Industrial Technologies Trading Up 0.0%

Shares of AIT stock opened at $260.07 on Monday. The company’s fifty day simple moving average is $259.74 and its two-hundred day simple moving average is $247.08. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.32 and a quick ratio of 2.36. Applied Industrial Technologies, Inc. has a 1 year low of $199.96 and a 1 year high of $282.98. The stock has a market capitalization of $9.82 billion, a price-to-earnings ratio of 25.70, a PEG ratio of 2.75 and a beta of 0.96.

Applied Industrial Technologies (NYSE:AIT) last issued its earnings results on Thursday, August 14th. The industrial products company reported $2.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.18 billion. During the same quarter in the previous year, the firm posted $2.64 EPS. The business’s revenue for the quarter 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. As a group, analysts anticipate that Applied Industrial Technologies, Inc. will post 9.9 earnings per share for the current year.

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.