Applied Industrial Technologies, Inc. $AIT Shares Sold by Nordea Investment Management AB

Nordea Investment Management AB decreased its position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 0.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 197,227 shares of the industrial products company’s stock after selling 327 shares during the quarter. Nordea Investment Management AB owned 0.52% of Applied Industrial Technologies worth $45,640,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in AIT. Alliancebernstein L.P. grew its stake in shares of Applied Industrial Technologies by 452.6% during the 1st quarter. Alliancebernstein L.P. now owns 436,565 shares of the industrial products company’s stock worth $98,376,000 after purchasing an additional 357,568 shares during the period. Nuveen LLC acquired a new stake in shares of Applied Industrial Technologies during the 1st quarter worth approximately $67,365,000. Millennium Management LLC grew its stake in shares of Applied Industrial Technologies by 144.0% during the 1st quarter. Millennium Management LLC now owns 320,903 shares of the industrial products company’s stock worth $72,312,000 after purchasing an additional 189,408 shares during the period. Alyeska Investment Group L.P. grew its stake in shares of Applied Industrial Technologies by 27.9% during the 1st quarter. Alyeska Investment Group L.P. now owns 602,798 shares of the industrial products company’s stock worth $135,835,000 after purchasing an additional 131,465 shares during the period. Finally, Voya Investment Management LLC grew its stake in shares of Applied Industrial Technologies by 522.2% during the 1st quarter. Voya Investment Management LLC now owns 143,696 shares of the industrial products company’s stock worth $32,380,000 after purchasing an additional 120,602 shares during the period. Institutional investors and hedge funds own 93.52% of the company’s stock.

Insiders Place Their Bets

In other Applied Industrial Technologies news, VP Kurt W. Loring sold 8,523 shares of Applied Industrial Technologies stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $267.06, for a total transaction of $2,276,152.38. Following the sale, the vice president owned 19,273 shares of the company’s stock, valued at $5,147,047.38. The trade was a 30.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Neil A. Schrimsher sold 26,671 shares of Applied Industrial Technologies stock in a transaction 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 sale, the chief executive officer directly owned 149,735 shares in the company, valued at approximately $39,299,448.10. This trade represents a 15.12% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 42,660 shares of company stock valued at $11,217,980 in the last 90 days. 1.60% of the stock is owned by insiders.

Applied Industrial Technologies Trading Up 1.3%

Shares of AIT opened at $247.91 on Friday. Applied Industrial Technologies, Inc. has a 52-week low of $199.96 and a 52-week high of $282.98. The company has a quick ratio of 2.36, a current ratio of 3.32 and a debt-to-equity ratio of 0.31. The firm’s fifty day moving average is $260.83 and its two-hundred day moving average is $245.33. The stock has a market cap of $9.36 billion, a PE ratio of 24.50, a price-to-earnings-growth ratio of 2.62 and a beta of 0.96.

Applied Industrial Technologies (NYSE:AIT) last announced its earnings results on Thursday, August 14th. The industrial products company reported $2.80 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.18 billion. During the same quarter in the previous year, the company posted $2.64 EPS. The firm’s quarterly 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 forecast that Applied Industrial Technologies, Inc. will post 9.9 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on AIT shares. Robert W. Baird upped their price objective on shares of Applied Industrial Technologies from $265.00 to $300.00 and gave the stock an “outperform” rating in a research report on Friday, August 15th. Raymond James Financial cut shares of Applied Industrial Technologies from an “outperform” rating to a “market perform” rating in a research report on Friday, August 15th. 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. Bank of America upped their price objective on shares of Applied Industrial Technologies from $275.00 to $290.00 and gave the stock a “buy” rating in a research report on Friday, August 22nd. Finally, Industrial Alliance Securities set a $290.00 price objective on shares of Applied Industrial Technologies in a research report on Friday, August 22nd. Seven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Applied Industrial Technologies has a consensus rating of “Moderate Buy” and a consensus 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.