KLP Kapitalforvaltning AS Purchases 400 Shares of Applied Industrial Technologies, Inc. $AIT

KLP Kapitalforvaltning AS lifted its position in Applied Industrial Technologies, Inc. (NYSE:AIT) by 3.9% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,600 shares of the industrial products company’s stock after buying an additional 400 shares during the period. KLP Kapitalforvaltning AS’s holdings in Applied Industrial Technologies were worth $2,464,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. GAMMA Investing LLC increased its position in shares of Applied Industrial Technologies by 2.9% in the 2nd quarter. GAMMA Investing LLC now owns 1,453 shares of the industrial products company’s stock valued at $338,000 after buying an additional 41 shares in the last quarter. First Horizon Advisors Inc. increased its position in shares of 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 buying an additional 51 shares in the last quarter. Focus Partners Wealth increased its position in shares of Applied Industrial Technologies by 4.5% in the 1st quarter. Focus Partners Wealth now owns 1,341 shares of the industrial products company’s stock valued at $302,000 after buying an additional 58 shares in the last quarter. Contravisory Investment Management Inc. increased its position in shares of Applied Industrial Technologies by 9.9% in the 2nd quarter. Contravisory Investment Management Inc. now owns 645 shares of the industrial products company’s stock valued at $150,000 after buying an additional 58 shares in the last quarter. Finally, Jump Financial LLC increased its position in shares of Applied Industrial Technologies by 3.7% in the 1st quarter. Jump Financial LLC now owns 1,895 shares of the industrial products company’s stock valued at $427,000 after buying an additional 68 shares in the last quarter. Institutional investors own 93.52% of the company’s stock.

Applied Industrial Technologies Trading Down 2.1%

Applied Industrial Technologies stock opened at $245.81 on Friday. The firm has a 50-day moving average of $262.58 and a 200-day moving average of $244.71. Applied Industrial Technologies, Inc. has a one year low of $199.96 and a one year high of $282.98. 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 company has a market cap of $9.28 billion, a price-to-earnings ratio of 24.29, a P/E/G ratio of 2.60 and a beta of 0.96.

Applied Industrial Technologies (NYSE:AIT) last posted its quarterly earnings data on Thursday, August 14th. The industrial products company reported $2.80 EPS for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $1.18 billion. During the same period in the prior year, the business posted $2.64 EPS. The company’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. On average, equities analysts expect that Applied Industrial Technologies, Inc. will post 9.9 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

AIT has been the subject of a number of recent analyst reports. Industrial Alliance Securities set a $290.00 price objective on shares of Applied Industrial Technologies in a research report on Friday, August 22nd. Robert W. Baird upped their target price on shares of Applied Industrial Technologies from $265.00 to $300.00 and gave the stock an “outperform” rating in a research note on Friday, August 15th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Applied Industrial Technologies in a research note on Wednesday. Bank of America upped their target price on shares of Applied Industrial Technologies from $275.00 to $290.00 and gave the stock a “buy” rating in a research note on Friday, August 22nd. Finally, Raymond James Financial lowered shares of Applied Industrial Technologies from an “outperform” rating to a “market perform” rating in a research note on Friday, August 15th. Seven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $285.00.

Insider Transactions at Applied Industrial Technologies

In other news, CEO Neil A. Schrimsher sold 26,671 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer directly owned 149,735 shares of the company’s stock, valued at approximately $39,299,448.10. This represents a 15.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Jason W. Vasquez sold 7,466 shares of the company’s stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $260.08, for a total transaction of $1,941,757.28. Following the completion of the sale, the vice president directly owned 14,491 shares in the company, valued at approximately $3,768,819.28. The trade was a 34.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 42,660 shares of company stock worth $11,217,980 in the last three months. 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.