Louisiana State Employees Retirement System Sells 100 Shares of Applied Industrial Technologies, Inc. $AIT

Louisiana State Employees Retirement System reduced its position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 0.9% in the second quarter, according to its most recent filing with the SEC. The fund owned 10,700 shares of the industrial products company’s stock after selling 100 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Applied Industrial Technologies were worth $2,487,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Rise Advisors LLC increased its position in Applied Industrial Technologies by 111.1% during the first quarter. Rise Advisors LLC now owns 133 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 70 shares during the last quarter. Maseco LLP purchased a new stake in shares of Applied Industrial Technologies in the second quarter valued at $35,000. Wayfinding Financial LLC purchased a new stake in shares of Applied Industrial Technologies in the first quarter valued at $38,000. Opal Wealth Advisors LLC purchased a new stake in shares of Applied Industrial Technologies in the first quarter valued at $41,000. Finally, First Horizon Advisors Inc. raised its stake in shares of 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 acquiring an additional 51 shares during the period. 93.52% of the stock is currently owned by institutional investors.

Insider Activity

In other news, VP Kurt W. Loring sold 8,523 shares of the firm’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $267.06, for a total transaction of $2,276,152.38. Following the transaction, the vice president owned 19,273 shares in the company, valued at approximately $5,147,047.38. This trade represents a 30.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Neil A. Schrimsher sold 26,671 shares of the firm’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 in the company, valued at approximately $39,299,448.10. This represents a 15.12% 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. Company insiders own 1.60% of the company’s stock.

Applied Industrial Technologies Stock Performance

Shares of Applied Industrial Technologies stock opened at $245.81 on Friday. The firm has a market cap of $9.28 billion, a P/E ratio of 24.29, a P/E/G ratio of 2.65 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 12 month low of $199.96 and a 12 month high of $282.98. The stock’s fifty day moving average price is $262.58 and its 200-day moving average price is $244.63.

Applied Industrial Technologies (NYSE:AIT) last announced its quarterly earnings results 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 firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.18 billion. Applied Industrial Technologies had a return on equity of 21.78% and a net margin of 8.61%.The business’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter 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. On average, equities research analysts expect that Applied Industrial Technologies, Inc. will post 9.9 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on AIT shares. Oppenheimer increased their target price on shares of Applied Industrial Technologies from $290.00 to $300.00 and gave the company an “outperform” rating in a research note on Friday, August 15th. Wall Street Zen raised shares of Applied Industrial Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, July 26th. Weiss Ratings reiterated a “buy (b)” rating on shares of Applied Industrial Technologies in a research report on Wednesday. Robert W. Baird lifted their target price 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, Bank of America lifted their target price on Applied Industrial Technologies from $275.00 to $290.00 and gave the stock a “buy” rating in a research report on Friday, August 22nd. Seven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, Applied Industrial Technologies has a consensus rating of “Moderate Buy” and an average target price of $285.00.

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.