MQS Management LLC Raises Stock Position in Applied Industrial Technologies, Inc. $AIT

MQS Management LLC raised its stake in Applied Industrial Technologies, Inc. (NYSE:AIT) by 19.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,235 shares of the industrial products company’s stock after buying an additional 361 shares during the period. MQS Management LLC’s holdings in Applied Industrial Technologies were worth $520,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in AIT. GAMMA Investing LLC increased its holdings in Applied Industrial Technologies by 51.3% in the first quarter. GAMMA Investing LLC now owns 1,412 shares of the industrial products company’s stock valued at $318,000 after buying an additional 479 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in Applied Industrial Technologies by 17.7% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 1,501 shares of the industrial products company’s stock valued at $338,000 after buying an additional 226 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in Applied Industrial Technologies by 6.6% in the first quarter. Janney Montgomery Scott LLC now owns 5,248 shares of the industrial products company’s stock valued at $1,183,000 after buying an additional 323 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in Applied Industrial Technologies by 7.3% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 3,103 shares of the industrial products company’s stock valued at $699,000 after buying an additional 210 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. increased its stake in shares of Applied Industrial Technologies by 34.7% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 3,938 shares of the industrial products company’s stock worth $887,000 after purchasing an additional 1,014 shares in the last quarter. 93.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AIT has been the subject of a number of recent research reports. Raymond James Financial cut shares of Applied Industrial Technologies from an “outperform” rating to a “market perform” rating in a research note on Friday, August 15th. Robert W. Baird raised 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 note on Friday, August 15th. Wall Street Zen raised shares of Applied Industrial Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, July 26th. Industrial Alliance Securities set a $290.00 price objective on shares of Applied Industrial Technologies in a research note on Friday, August 22nd. Finally, Bank of America raised 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 note on Friday, August 22nd. Six equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $285.00.

Insiders Place Their Bets

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 value of $7,000,070.66. Following the completion of the sale, the chief executive officer directly owned 149,735 shares of the company’s stock, valued at approximately $39,299,448.10. The trade was a 15.12% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Kurt W. Loring sold 8,523 shares of Applied Industrial Technologies stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $267.06, for a total transaction of $2,276,152.38. Following the completion of the sale, the vice president directly owned 19,273 shares of the company’s stock, valued at $5,147,047.38. The trade was a 30.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 42,660 shares of company stock valued at $11,217,980. Company insiders own 1.60% of the company’s stock.

Applied Industrial Technologies Stock Up 0.0%

AIT stock opened at $260.07 on Friday. The stock has a market capitalization of $9.82 billion, a P/E ratio of 25.70, a PEG ratio of 2.75 and a beta of 0.96. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.36 and a current ratio of 3.32. Applied Industrial Technologies, Inc. has a one year low of $199.96 and a one year high of $282.98. The company has a 50 day moving average price of $259.74 and a two-hundred day moving average price of $246.97.

Applied Industrial Technologies (NYSE:AIT) last released its earnings results on Thursday, August 14th. The industrial products company reported $2.80 EPS for the quarter, topping the consensus estimate of $2.60 by $0.20. The firm had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.18 billion. Applied Industrial Technologies had a net margin of 8.61% and a return on equity of 21.78%. Applied Industrial Technologies’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period in the previous year, the company earned $2.64 EPS. Applied Industrial Technologies has set its FY 2026 guidance at 10.000-10.75 EPS. As a group, sell-side analysts expect that Applied Industrial Technologies, Inc. will post 9.9 EPS for the current year.

Applied Industrial Technologies Company Profile

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.