Applied Industrial Technologies, Inc. (NYSE:AIT – Get Free Report) Director Peter Wallace sold 1,904 shares of the stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $340.45, for a total transaction of $648,216.80. Following the completion of the sale, the director owned 22,859 shares of the company’s stock, valued at $7,782,346.55. This trade represents a 7.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Applied Industrial Technologies Stock Performance
AIT opened at $338.38 on Friday. The firm has a market capitalization of $12.42 billion, a PE ratio of 30.87, a PEG ratio of 2.75 and a beta of 0.84. Applied Industrial Technologies, Inc. has a twelve month low of $238.34 and a twelve month high of $374.80. The firm’s 50-day moving average price is $340.95 and its 200 day moving average price is $308.02. The company has a current ratio of 2.58, a quick ratio of 1.75 and a debt-to-equity ratio of 0.14.
Applied Industrial Technologies (NYSE:AIT – Get Free Report) last released its quarterly earnings data on Thursday, August 13th. The industrial products company reported $3.17 EPS for the quarter, beating analysts’ consensus estimates of $2.92 by $0.25. Applied Industrial Technologies had a net margin of 8.35% and a return on equity of 22.17%. The company had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter in the prior year, the firm earned $2.80 EPS. Applied Industrial Technologies’s quarterly revenue was up 10.5% on a year-over-year basis. Applied Industrial Technologies has set its FY 2027 guidance at 11.650-12.150 EPS. As a group, sell-side analysts expect that Applied Industrial Technologies, Inc. will post 11.95 EPS for the current fiscal year.
Applied Industrial Technologies Dividend Announcement
Hedge Funds Weigh In On Applied Industrial Technologies
A number of hedge funds have recently modified their holdings of the business. Torren Management LLC purchased a new stake in Applied Industrial Technologies in the 4th quarter valued at about $25,000. Anchor Investment Management LLC acquired a new position in Applied Industrial Technologies in the fourth quarter valued at about $32,000. Global Retirement Partners LLC purchased a new position in Applied Industrial Technologies during the second quarter worth about $37,000. Kilter Group LLC purchased a new position in Applied Industrial Technologies during the second quarter worth about $40,000. Finally, Smartleaf Asset Management LLC increased its position in shares of Applied Industrial Technologies by 78.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 177 shares of the industrial products company’s stock valued at $46,000 after acquiring an additional 78 shares during the last quarter. 93.52% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of equities analysts recently commented on AIT shares. Robert W. Baird lifted their price objective on Applied Industrial Technologies from $317.00 to $400.00 and gave the stock an “outperform” rating in a research report on Friday, August 14th. Mizuho upped their target price on Applied Industrial Technologies from $355.00 to $400.00 and gave the company an “outperform” rating in a report on Friday, August 14th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Applied Industrial Technologies in a research note on Tuesday, July 21st. Oppenheimer lifted their price target on Applied Industrial Technologies from $350.00 to $390.00 and gave the stock an “outperform” rating in a report on Friday, August 14th. Finally, Wall Street Zen raised shares of Applied Industrial Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Seven investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $400.00.
Check Out Our Latest Stock Analysis on AIT
About Applied Industrial Technologies
Applied Industrial Technologies, listed on the New York Stock Exchange under the symbol AIT, is a leading distributor of industrial products and services. The company offers a comprehensive range of bearings, power transmission components, fluid power products, industrial rubber products, and automation solutions. Through its network of distribution centers and branch locations, Applied Industrial Technologies serves diverse end markets including manufacturing, oil and gas, mining, food and beverage, and wastewater treatment.
Founded in 1923 and headquartered in Cleveland, Ohio, Applied Industrial Technologies has grown through a combination of organic expansion and strategic acquisitions.
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