Lisanti Capital Growth LLC Purchases Shares of 4,075 Applied Industrial Technologies, Inc. $AIT

Lisanti Capital Growth LLC acquired a new stake in Applied Industrial Technologies, Inc. (NYSE:AIT) in the 2nd quarter, Holdings Channel reports. The fund acquired 4,075 shares of the industrial products company’s stock, valued at approximately $1,378,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AIT. West Family Investments Inc. acquired a new stake in shares of Applied Industrial Technologies during the second quarter worth about $484,000. Citizens Financial Group Inc. RI acquired a new position in Applied Industrial Technologies in the 2nd quarter valued at about $577,000. BlackRock Inc. purchased a new stake in Applied Industrial Technologies in the 2nd quarter valued at about $1,336,805,000. Pallas Capital Advisors LLC acquired a new position in Applied Industrial Technologies during the second quarter worth $327,000. Finally, Deutsche Bank AG purchased a new stake in Applied Industrial Technologies during the 2nd quarter worth approximately $1,782,000. Institutional investors and hedge funds own 93.52% of the company’s stock.

Applied Industrial Technologies Stock Down 2.1%

Applied Industrial Technologies stock opened at $346.76 on Thursday. The company has a market capitalization of $12.73 billion, a P/E ratio of 31.64, a PEG ratio of 2.85 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, Inc. has a fifty-two week low of $238.34 and a fifty-two week high of $374.80. The stock has a 50-day simple moving average of $339.19 and a 200-day simple moving average of $305.46.

Applied Industrial Technologies (NYSE:AIT) last released its quarterly earnings results on Thursday, August 13th. The industrial products company reported $3.17 EPS for the quarter, topping the consensus estimate of $2.92 by $0.25. Applied Industrial Technologies had a return on equity of 22.17% and a net margin of 8.35%.The company had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same quarter in the previous year, the company posted $2.80 earnings per share. The firm’s revenue was up 10.5% compared to the same quarter last year. Applied Industrial Technologies has set its FY 2027 guidance at 11.650-12.150 EPS. Equities research analysts expect that Applied Industrial Technologies, Inc. will post 11.95 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 Monday, August 31st. Shareholders of record on Friday, August 14th will be given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a 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%.

Insider Activity at Applied Industrial Technologies

In other news, Director Madhuri A. Andrews sold 3,845 shares of the stock in a transaction dated Thursday, June 18th. The shares were 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 approximately $1,633,285.39. This represents a 43.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on AIT shares. Wall Street Zen upgraded Applied Industrial Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. Oppenheimer increased their price objective on shares of Applied Industrial Technologies from $350.00 to $390.00 and gave the company an “outperform” rating in a research report on Friday, August 14th. DA Davidson raised their price objective on shares of Applied Industrial Technologies from $380.00 to $400.00 and gave the company a “buy” rating in a report on Friday, August 14th. Mizuho lifted their price objective on shares of Applied Industrial Technologies from $355.00 to $400.00 and gave the stock an “outperform” rating in a research report on Friday, August 14th. Finally, Robert W. Baird boosted their target price 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. Seven equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $384.29.

Applied Industrial Technologies 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.