IFP Advisors Inc Has $225,000 Stock Position in Applied Industrial Technologies, Inc. $AIT

IFP Advisors Inc reduced its position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 7.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 967 shares of the industrial products company’s stock after selling 77 shares during the quarter. IFP Advisors Inc’s holdings in Applied Industrial Technologies were worth $225,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Maryland State Retirement & Pension System acquired a new position in Applied Industrial Technologies during the 2nd quarter worth approximately $430,000. KLP Kapitalforvaltning AS raised its stake in shares of Applied Industrial Technologies by 3.9% in 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 last quarter. 111 Capital purchased a new stake in shares of Applied Industrial Technologies in the second quarter worth approximately $980,000. QRG Capital Management Inc. raised its stake in shares of Applied Industrial Technologies by 11.7% in the second quarter. QRG Capital Management Inc. now owns 8,311 shares of the industrial products company’s stock worth $1,932,000 after purchasing an additional 871 shares during the last quarter. Finally, Mountain Pacific Investment Advisers LLC raised its stake in shares of Applied Industrial Technologies by 0.7% in the second quarter. Mountain Pacific Investment Advisers LLC now owns 61,137 shares of the industrial products company’s stock worth $14,211,000 after purchasing an additional 427 shares during the last quarter. 93.52% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Applied Industrial Technologies

In other news, VP Jason W. Vasquez sold 7,466 shares of the firm’s stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $260.08, for a total value of $1,941,757.28. Following the completion of the transaction, the vice president directly owned 14,491 shares of the company’s stock, valued at $3,768,819.28. This trade represents a 34.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Neil A. Schrimsher sold 26,671 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer directly 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 disclosure for this sale can be found here. Insiders sold 42,660 shares of company stock valued at $11,217,980 over the last three months. Company insiders own 1.60% of the company’s stock.

Applied Industrial Technologies Price Performance

Shares of NYSE AIT opened at $247.91 on Friday. The stock has a fifty day simple moving average of $260.83 and a two-hundred day simple moving average of $245.27. Applied Industrial Technologies, Inc. has a 1-year low of $199.96 and a 1-year high of $282.98. The firm has a market cap of $9.36 billion, a price-to-earnings ratio of 24.50, a price-to-earnings-growth ratio of 2.59 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 (NYSE:AIT) last announced its quarterly earnings data on Thursday, August 14th. The industrial products company reported $2.80 earnings per share for the quarter, beating the consensus estimate of $2.60 by $0.20. Applied Industrial Technologies had a return on equity of 21.78% and a net margin of 8.61%.The business had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.18 billion. During the same period in the prior year, the company earned $2.64 earnings per share. Applied Industrial Technologies’s revenue was up 5.5% compared to the same quarter last year. Applied Industrial Technologies has set its FY 2026 guidance at 10.000-10.75 EPS. Analysts anticipate that Applied Industrial Technologies, Inc. will post 9.9 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on AIT. Wall Street Zen raised Applied Industrial Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, July 26th. Raymond James Financial downgraded Applied Industrial Technologies from an “outperform” rating to a “market perform” rating in a research note on Friday, August 15th. Oppenheimer increased their price objective on Applied Industrial Technologies from $290.00 to $300.00 and gave the stock an “outperform” rating in a research note on Friday, August 15th. Robert W. Baird increased their price objective on Applied Industrial Technologies from $265.00 to $300.00 and gave the stock an “outperform” rating in a research note on Friday, August 15th. Finally, Industrial Alliance Securities set a $290.00 price target on Applied Industrial Technologies in a research report on Friday, August 22nd. Seven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target 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.