Jupiter Topco LLC Acquires Shares of 22,884 Applied Industrial Technologies, Inc. $AIT

Jupiter Topco LLC purchased a new position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) in the second quarter, Holdings Channel.com reports. The fund purchased 22,884 shares of the industrial products company’s stock, valued at approximately $7,742,000.

Several other large investors have also bought and sold shares of AIT. Compound Planning Inc. grew its position in Applied Industrial Technologies by 4.7% in the fourth quarter. Compound Planning Inc. now owns 822 shares of the industrial products company’s stock valued at $211,000 after acquiring an additional 37 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Applied Industrial Technologies by 7.4% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 653 shares of the industrial products company’s stock worth $170,000 after acquiring an additional 45 shares during the last quarter. Sanctuary Advisors LLC boosted its stake in shares of Applied Industrial Technologies by 4.5% in the 1st quarter. Sanctuary Advisors LLC now owns 1,160 shares of the industrial products company’s stock valued at $308,000 after purchasing an additional 50 shares in the last quarter. Focus Partners Wealth boosted its stake 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 purchasing an additional 58 shares in the last quarter. Finally, Cetera Investment Advisers grew its holdings in shares of Applied Industrial Technologies by 0.5% during the 4th quarter. Cetera Investment Advisers now owns 10,900 shares of the industrial products company’s stock valued at $2,799,000 after purchasing an additional 58 shares during the last quarter. 93.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on AIT. Wall Street Zen upgraded shares of Applied Industrial Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. DA Davidson upped their price target on shares of Applied Industrial Technologies from $380.00 to $400.00 and gave the stock a “buy” rating in a report on Friday, August 14th. Oppenheimer increased their price target on Applied Industrial Technologies from $350.00 to $390.00 and gave the company an “outperform” rating in a research note on Friday, August 14th. Robert W. Baird raised their price objective on Applied Industrial Technologies from $317.00 to $400.00 and gave the company an “outperform” rating in a report on Friday, August 14th. Finally, Mizuho boosted their price objective on Applied Industrial Technologies from $355.00 to $400.00 and gave the stock an “outperform” rating in a research report on Friday, August 14th. Seven analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $400.00.

Applied Industrial Technologies Price Performance

Shares of NYSE AIT opened at $321.09 on Monday. Applied Industrial Technologies, Inc. has a twelve month low of $238.34 and a twelve month high of $374.80. The firm has a fifty day simple moving average of $340.60 and a 200 day simple moving average of $308.29. The company has a market capitalization of $11.78 billion, a PE ratio of 29.30, a P/E/G ratio of 2.59 and a beta of 0.84. The company has a quick ratio of 1.75, a current ratio of 2.58 and a debt-to-equity ratio of 0.14.

Applied Industrial Technologies (NYSE:AIT) last released its earnings results on Thursday, August 13th. The industrial products company reported $3.17 EPS for the quarter, topping the consensus estimate of $2.92 by $0.25. The business had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.29 billion. Applied Industrial Technologies had a return on equity of 22.17% and a net margin of 8.35%.The firm’s revenue was up 10.5% on a year-over-year basis. During the same quarter last year, the firm posted $2.80 earnings per share. Applied Industrial Technologies has set its FY 2027 guidance at 11.650-12.150 EPS. On average, sell-side analysts forecast that Applied Industrial Technologies, Inc. will post 11.95 EPS for the current year.

Applied Industrial Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Friday, August 14th will be given a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $2.04 annualized dividend and a dividend yield of 0.6%. Applied Industrial Technologies’s payout ratio is presently 18.61%.

Insider Transactions at Applied Industrial Technologies

In other Applied Industrial Technologies news, CFO David K. Wells sold 1,812 shares of Applied Industrial Technologies stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $355.10, for a total transaction of $643,441.20. Following the completion of the transaction, the chief financial officer owned 32,050 shares in the company, valued at approximately $11,380,955. The trade was a 5.35% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Madhuri A. Andrews sold 3,845 shares of the company’s stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $329.89, for a total value of $1,268,427.05. Following the sale, the director owned 4,951 shares of the company’s stock, valued at $1,633,285.39. This trade represents a 43.71% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 7,561 shares of company stock valued at $2,560,085 over the last three months. Corporate insiders own 1.60% of the company’s stock.

Applied Industrial Technologies Profile

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.