Mountain Pacific Investment Advisers LLC Grows Stock Holdings in Applied Industrial Technologies, Inc. $AIT

Mountain Pacific Investment Advisers LLC grew its position in Applied Industrial Technologies, Inc. (NYSE:AIT) by 0.7% in the second quarter, HoldingsChannel reports. The institutional investor owned 61,137 shares of the industrial products company’s stock after acquiring an additional 427 shares during the period. Mountain Pacific Investment Advisers LLC’s holdings in Applied Industrial Technologies were worth $14,211,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. MassMutual Private Wealth & Trust FSB increased its stake in Applied Industrial Technologies by 51.2% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 130 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 44 shares during the period. Rise Advisors LLC grew its holdings in shares of Applied Industrial Technologies by 111.1% in the first quarter. Rise Advisors LLC now owns 133 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 70 shares in the last quarter. Maseco LLP purchased a new stake in Applied Industrial Technologies during the 2nd quarter worth approximately $35,000. Harbor Investment Advisory LLC increased its stake in Applied Industrial Technologies by 97.5% during the 1st quarter. Harbor Investment Advisory LLC now owns 160 shares of the industrial products company’s stock worth $36,000 after buying an additional 79 shares during the period. Finally, Wayfinding Financial LLC acquired a new stake in Applied Industrial Technologies during the 1st quarter worth approximately $38,000. Institutional investors and hedge funds own 93.52% of the company’s stock.

Insider Transactions at Applied Industrial Technologies

In other Applied Industrial Technologies news, CEO Neil A. Schrimsher sold 26,671 shares of Applied Industrial Technologies stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $262.46, for a total transaction of $7,000,070.66. Following the transaction, the chief executive officer owned 149,735 shares of the company’s stock, valued at $39,299,448.10. The trade was a 15.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Jason W. Vasquez sold 7,466 shares of the business’s stock in a transaction that occurred on 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 sale, the vice president owned 14,491 shares of the company’s stock, valued at approximately $3,768,819.28. This represents a 34.00% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 42,660 shares of company stock worth $11,217,980. Corporate insiders own 1.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on AIT. Bank of America boosted their price target on shares of Applied Industrial Technologies from $275.00 to $290.00 and gave the stock a “buy” rating in a research note on Friday, August 22nd. Raymond James Financial lowered Applied Industrial Technologies from an “outperform” rating to a “market perform” rating in a report on Friday, August 15th. Industrial Alliance Securities set a $290.00 price target on Applied Industrial Technologies in a report on Friday, August 22nd. Oppenheimer increased their price target on Applied Industrial Technologies from $290.00 to $300.00 and gave the company an “outperform” rating in a research report on Friday, August 15th. Finally, Robert W. Baird boosted 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 issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $285.00.

Applied Industrial Technologies Stock Down 1.1%

AIT stock opened at $258.22 on Thursday. The stock has a market cap of $9.75 billion, a P/E ratio of 25.52, a PEG ratio of 2.76 and a beta of 0.96. The company has a current ratio of 3.32, a quick ratio of 2.36 and a debt-to-equity ratio of 0.31. Applied Industrial Technologies, Inc. has a twelve month low of $199.96 and a twelve month high of $282.98. The company’s 50 day moving average is $264.87 and its two-hundred day moving average is $243.42.

Applied Industrial Technologies (NYSE:AIT) last posted its earnings results on Thursday, August 14th. The industrial products company reported $2.80 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 firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same period last year, the firm posted $2.64 EPS. The company’s revenue was up 5.5% on a year-over-year basis. Applied Industrial Technologies has set its FY 2026 guidance at 10.000-10.75 EPS. Research analysts expect that Applied Industrial Technologies, Inc. will post 9.9 earnings per share for the current fiscal 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.