Vanguard Personalized Indexing Management LLC Acquires 419 Shares of Applied Industrial Technologies, Inc. $AIT

Vanguard Personalized Indexing Management LLC grew its holdings in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 13.7% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,478 shares of the industrial products company’s stock after purchasing an additional 419 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in Applied Industrial Technologies were worth $809,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Concurrent Investment Advisors LLC boosted its position in Applied Industrial Technologies by 6.2% during the second quarter. Concurrent Investment Advisors LLC now owns 1,502 shares of the industrial products company’s stock worth $349,000 after purchasing an additional 88 shares during the period. Johnson Investment Counsel Inc. boosted its position in Applied Industrial Technologies by 1.0% during the second quarter. Johnson Investment Counsel Inc. now owns 12,582 shares of the industrial products company’s stock worth $2,925,000 after purchasing an additional 120 shares during the period. Monument Capital Management bought a new position in Applied Industrial Technologies during the second quarter worth about $203,000. Maryland State Retirement & Pension System bought a new position in Applied Industrial Technologies during the second quarter worth about $430,000. Finally, KLP Kapitalforvaltning AS boosted its position in Applied Industrial Technologies by 3.9% during the second quarter. KLP Kapitalforvaltning AS now owns 10,600 shares of the industrial products company’s stock worth $2,464,000 after purchasing an additional 400 shares during the period. Institutional investors own 93.52% of the company’s stock.

Analysts Set New Price Targets

AIT has been the subject of a number of research reports. Industrial Alliance Securities set a $290.00 target price on shares of Applied Industrial Technologies in a research report on Friday, August 22nd. Wall Street Zen upgraded shares of Applied Industrial Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, July 26th. Weiss Ratings restated a “buy (b)” rating on shares of Applied Industrial Technologies in a research report on Wednesday, October 8th. Oppenheimer raised their price objective on shares of 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, Raymond James Financial lowered shares of Applied Industrial Technologies from an “outperform” rating to a “market perform” rating in a research report on Friday, August 15th. Seven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Applied Industrial Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $285.00.

Insider Activity at Applied Industrial Technologies

In related news, CEO Neil A. Schrimsher sold 26,671 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer directly owned 149,735 shares of the company’s stock, valued at $39,299,448.10. This trade represents a 15.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Jason W. Vasquez sold 7,466 shares of Applied Industrial Technologies stock in a transaction that occurred 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 transaction, the vice president directly owned 14,491 shares in the company, valued at $3,768,819.28. This trade represents a 34.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 42,660 shares of company stock valued at $11,217,980 over the last three months. 1.60% of the stock is owned by corporate insiders.

Applied Industrial Technologies Trading Up 1.3%

Shares of AIT opened at $247.91 on Monday. The firm’s 50 day simple moving average is $260.83 and its 200 day simple moving average is $245.53. The company has a market capitalization of $9.36 billion, a P/E ratio of 24.50, a P/E/G ratio of 2.62 and a beta of 0.96. 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.

Applied Industrial Technologies (NYSE:AIT) last announced its earnings results on Thursday, August 14th. The industrial products company reported $2.80 earnings per share for the quarter, beating analysts’ consensus estimates of $2.60 by $0.20. The business had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.18 billion. Applied Industrial Technologies had a net margin of 8.61% and a return on equity of 21.78%. Applied Industrial Technologies’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period last year, the firm posted $2.64 earnings per share. Applied Industrial Technologies has set its FY 2026 guidance at 10.000-10.75 EPS. Sell-side analysts forecast that Applied Industrial Technologies, Inc. will post 9.9 earnings per share for the current fiscal year.

Applied Industrial Technologies Company 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.