Applied Industrial Technologies, Inc. $AIT Shares Sold by Bank of Montreal Can

Bank of Montreal Can lessened its holdings in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 5.5% in the second quarter, Holdings Channel reports. The firm owned 5,214 shares of the industrial products company’s stock after selling 305 shares during the period. Bank of Montreal Can’s holdings in Applied Industrial Technologies were worth $1,212,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of AIT. Rise Advisors LLC grew its stake in Applied Industrial Technologies by 111.1% during the first quarter. Rise Advisors LLC now owns 133 shares of the industrial products company’s stock worth $30,000 after buying an additional 70 shares during the period. Hantz Financial Services Inc. raised its stake in shares of Applied Industrial Technologies by 2,033.3% in the 2nd quarter. Hantz Financial Services Inc. now owns 128 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 122 shares during the period. Maseco LLP acquired a new position in shares of Applied Industrial Technologies during the 2nd quarter valued at $35,000. SVB Wealth LLC acquired a new position in shares of Applied Industrial Technologies during the 1st quarter valued at $48,000. Finally, Harbor Investment Advisory LLC boosted its position in Applied Industrial Technologies by 100.6% during the 2nd quarter. Harbor Investment Advisory LLC now owns 321 shares of the industrial products company’s stock worth $75,000 after purchasing an additional 161 shares during the period. Hedge funds and other institutional investors own 93.52% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on AIT shares. Oppenheimer raised their price objective on Applied Industrial Technologies from $290.00 to $300.00 and gave the company an “outperform” rating in a research report on Friday, August 15th. Wall Street Zen upgraded Applied Industrial Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, July 26th. Bank of America raised their target price on Applied Industrial Technologies from $275.00 to $290.00 and gave the company a “buy” rating in a report on Friday, August 22nd. Mizuho set a $305.00 price target on Applied Industrial Technologies in a report on Wednesday, October 29th. Finally, Robert W. Baird increased their price objective on shares of Applied Industrial Technologies from $265.00 to $300.00 and gave the company 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 assigned a Hold rating to the company’s stock. According to MarketBeat, Applied Industrial Technologies presently has an average rating of “Moderate Buy” and an average target price of $287.50.

Insider Activity at Applied Industrial Technologies

In other news, CEO Neil A. Schrimsher sold 26,671 shares of the business’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 completion of the sale, the chief executive officer 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 document filed with the Securities & Exchange Commission, which is available at 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 owned 14,491 shares in the company, valued at approximately $3,768,819.28. This trade represents a 34.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 42,660 shares of company stock valued at $11,217,980 over the last ninety days. Corporate insiders own 1.60% of the company’s stock.

Applied Industrial Technologies Trading Down 0.9%

Shares of AIT opened at $248.67 on Friday. The company has a market capitalization of $9.38 billion, a P/E ratio of 23.93, a P/E/G ratio of 2.61 and a beta of 0.99. 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 0.30, a quick ratio of 2.36 and a current ratio of 3.55. The stock has a 50-day moving average price of $257.36 and a 200 day moving average price of $250.00.

Applied Industrial Technologies (NYSE:AIT) last posted its quarterly earnings data on Tuesday, October 28th. The industrial products company reported $2.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.47 by $0.16. Applied Industrial Technologies had a return on equity of 21.86% and a net margin of 8.61%.The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same period in the previous year, the business earned $2.36 EPS. Applied Industrial Technologies’s revenue for the quarter was up 9.2% compared to the same quarter last year. Applied Industrial Technologies has set its FY 2026 guidance at 10.100-10.850 EPS. Sell-side analysts forecast that Applied Industrial Technologies, Inc. will post 9.9 EPS for the current fiscal year.

Applied Industrial Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, November 14th will be paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Friday, November 14th. Applied Industrial Technologies’s payout ratio is 17.71%.

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.