Concurrent Investment Advisors LLC Buys 88 Shares of Applied Industrial Technologies, Inc. $AIT

Concurrent Investment Advisors LLC raised its stake in Applied Industrial Technologies, Inc. (NYSE:AIT) by 6.2% during the 2nd quarter, Holdings Channel reports. The fund owned 1,502 shares of the industrial products company’s stock after acquiring an additional 88 shares during the period. Concurrent Investment Advisors LLC’s holdings in Applied Industrial Technologies were worth $349,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of AIT. Rise Advisors LLC raised its holdings in Applied Industrial Technologies by 111.1% in the 1st 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 period. Maseco LLP bought a new position in Applied Industrial Technologies in the 2nd quarter valued at about $35,000. Wayfinding Financial LLC bought a new position in Applied Industrial Technologies in the 1st quarter valued at about $38,000. First Horizon Advisors Inc. raised its holdings in Applied Industrial Technologies by 31.1% in the 1st 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. Finally, SVB Wealth LLC bought a new position in Applied Industrial Technologies in the 1st quarter valued at about $48,000. 93.52% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on AIT. Weiss Ratings reissued a “buy (b)” rating on shares of Applied Industrial Technologies in a report on Wednesday, October 8th. Oppenheimer raised their target price on shares of Applied Industrial Technologies from $290.00 to $300.00 and gave the stock an “outperform” rating in a report on Friday, August 15th. Raymond James Financial downgraded shares of Applied Industrial Technologies from an “outperform” rating to a “market perform” rating in a research report on Friday, August 15th. Industrial Alliance Securities set a $290.00 price target on Applied Industrial Technologies in a research report on Friday, August 22nd. Finally, Bank of America raised their price objective on Applied Industrial Technologies from $275.00 to $290.00 and gave the stock a “buy” rating in a research note 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’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $285.00.

Insider Transactions at Applied Industrial Technologies

In other news, VP Kurt W. Loring sold 8,523 shares of the firm’s 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 sale, the vice president directly owned 19,273 shares in the company, valued at approximately $5,147,047.38. This trade represents a 30.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Neil A. Schrimsher sold 26,671 shares of Applied Industrial Technologies stock in a transaction that occurred on Thursday, August 21st. The shares were 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 $39,299,448.10. This trade represents a 15.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 42,660 shares of company stock valued at $11,217,980. 1.60% of the stock is currently owned by insiders.

Applied Industrial Technologies Trading Up 1.3%

Shares of AIT stock opened at $247.91 on Monday. Applied Industrial Technologies, Inc. has a fifty-two week low of $199.96 and a fifty-two week high of $282.98. The stock’s fifty day moving average price is $260.83 and its two-hundred day moving average price is $245.53. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.36 and a current ratio of 3.32. The company has a market cap of $9.36 billion, a PE ratio of 24.50, a P/E/G ratio of 2.62 and a beta of 0.96.

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, topping the consensus estimate of $2.60 by $0.20. The business 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%.Applied Industrial Technologies’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period in the prior year, the company earned $2.64 EPS. Applied Industrial Technologies has set its FY 2026 guidance at 10.000-10.75 EPS. Equities analysts predict that Applied Industrial Technologies, Inc. will post 9.9 EPS for the current fiscal year.

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.