R Squared Ltd Invests $635,000 in Applied Industrial Technologies, Inc. $AIT

R Squared Ltd bought a new stake in Applied Industrial Technologies, Inc. (NYSE:AIT) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 2,730 shares of the industrial products company’s stock, valued at approximately $635,000.

Several other hedge funds also recently modified their holdings of the stock. Cambridge Investment Research Advisors Inc. increased its holdings in Applied Industrial Technologies by 7.3% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 3,103 shares of the industrial products company’s stock worth $699,000 after buying an additional 210 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in 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 increased its position in Applied Industrial Technologies by 17.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 1,501 shares of the industrial products company’s stock worth $338,000 after acquiring an additional 226 shares during the period. Sequoia Financial Advisors LLC increased its holdings in shares of Applied Industrial Technologies by 26.0% during the first quarter. Sequoia Financial Advisors LLC now owns 1,811 shares of the industrial products company’s stock worth $408,000 after purchasing an additional 374 shares during the period. Finally, Spire Wealth Management raised its holdings in 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 acquiring an additional 262 shares in the last quarter. Institutional investors own 93.52% of the company’s stock.

Applied Industrial Technologies Trading Up 2.5%

NYSE AIT opened at $259.83 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.32 and a quick ratio of 2.36. The stock has a market capitalization of $9.81 billion, a price-to-earnings ratio of 25.67, a PEG ratio of 2.68 and a beta of 0.96. Applied Industrial Technologies, Inc. has a one year low of $199.96 and a one year high of $282.98. The business’s fifty day moving average is $259.65 and its 200-day moving average is $246.31.

Applied Industrial Technologies (NYSE:AIT) last issued its quarterly 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 during the quarter, compared to analyst estimates of $1.18 billion. During the same quarter last year, the business posted $2.64 EPS. Applied Industrial Technologies’s quarterly 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. Equities research analysts predict that Applied Industrial Technologies, Inc. will post 9.9 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Bank of America upped their price target on shares of Applied Industrial Technologies from $275.00 to $290.00 and gave the stock a “buy” rating in a report on Friday, August 22nd. 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 objective on shares of Applied Industrial Technologies in a research note on Friday, August 22nd. Weiss Ratings restated a “buy (b)” rating on shares of Applied Industrial Technologies in a report on Wednesday, October 8th. Finally, Robert W. Baird upped 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. Six investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $285.00.

Insider Activity at Applied Industrial Technologies

In other Applied Industrial Technologies news, 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 transaction, the chief executive officer directly owned 149,735 shares of the company’s stock, valued at approximately $39,299,448.10. This trade represents a 15.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Jason W. Vasquez sold 7,466 shares of the stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $260.08, for a total value of $1,941,757.28. Following the sale, the vice president directly owned 14,491 shares of the company’s stock, valued at approximately $3,768,819.28. This trade represents a 34.00% decrease in their position. 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. Corporate insiders own 1.60% of the company’s stock.

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.