Cim Investment Management Inc. Has $437,000 Stock Holdings in Applied Industrial Technologies, Inc. $AIT

Cim Investment Management Inc. cut its holdings in Applied Industrial Technologies, Inc. (NYSE:AIT) by 2.4% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 1,941 shares of the industrial products company’s stock after selling 47 shares during the quarter. Cim Investment Management Inc.’s holdings in Applied Industrial Technologies were worth $437,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Cambridge Investment Research Advisors Inc. grew its position in shares of Applied Industrial Technologies by 7.3% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 3,103 shares of the industrial products company’s stock valued at $699,000 after purchasing an additional 210 shares during the period. Janney Montgomery Scott LLC grew its position in shares of Applied Industrial Technologies by 6.6% in the 1st quarter. Janney Montgomery Scott LLC now owns 5,248 shares of the industrial products company’s stock valued at $1,183,000 after purchasing an additional 323 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in shares of Applied Industrial Technologies by 17.7% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 1,501 shares of the industrial products company’s stock valued at $338,000 after purchasing an additional 226 shares during the period. Sequoia Financial Advisors LLC grew its position in shares of Applied Industrial Technologies by 26.0% in the 1st quarter. Sequoia Financial Advisors LLC now owns 1,811 shares of the industrial products company’s stock valued at $408,000 after purchasing an additional 374 shares during the period. Finally, Spire Wealth Management grew its position in shares of Applied Industrial Technologies by 11.3% in the 1st quarter. Spire Wealth Management now owns 2,583 shares of the industrial products company’s stock valued at $582,000 after purchasing an additional 262 shares during the period. 93.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Bank of America boosted their price objective on Applied Industrial Technologies from $275.00 to $290.00 and gave the company a “buy” rating in a research report on Friday, August 22nd. Oppenheimer upped their price target on Applied Industrial Technologies from $290.00 to $300.00 and gave the stock an “outperform” rating in a research report on Friday, August 15th. Wall Street Zen raised Applied Industrial Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, July 26th. Robert W. Baird upped their price target 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. Finally, Raymond James Financial downgraded Applied Industrial Technologies from an “outperform” rating to a “market perform” rating in a research report on Friday, August 15th. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, Applied Industrial Technologies has an average rating of “Moderate Buy” and an average target price of $285.00.

Applied Industrial Technologies Stock Performance

AIT opened at $269.74 on Friday. The firm has a market capitalization of $10.18 billion, a PE ratio of 26.65, a PEG ratio of 2.78 and a beta of 1.00. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.36 and a current ratio of 3.32. Applied Industrial Technologies, Inc. has a 52-week low of $196.71 and a 52-week high of $282.98. The business’s 50-day simple moving average is $263.32 and its 200 day simple moving average is $240.78.

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

Applied Industrial Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were issued a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Friday, August 15th. Applied Industrial Technologies’s dividend payout ratio is presently 18.18%.

Insider Activity

In other news, CEO Neil A. Schrimsher sold 26,671 shares of the stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $262.46, for a total value of $7,000,070.66. Following the completion of the sale, 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Kurt W. Loring sold 8,523 shares of the stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $267.06, for a total value of $2,276,152.38. Following the completion of the sale, the vice president directly owned 19,273 shares of the company’s stock, valued at approximately $5,147,047.38. The trade was a 30.66% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 42,660 shares of company stock valued at $11,217,980. 1.67% of the stock is owned by insiders.

About Applied Industrial Technologies

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.