United Capital Financial Advisors LLC Buys New Shares in Applied Industrial Technologies, Inc. $AIT

United Capital Financial Advisors LLC purchased a new stake in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 1,596 shares of the industrial products company’s stock, valued at approximately $540,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Anchor Investment Management LLC purchased a new position in shares of Applied Industrial Technologies during the 4th quarter valued at about $32,000. Global Retirement Partners LLC bought a new position in shares of Applied Industrial Technologies during the 2nd quarter valued at approximately $37,000. Kilter Group LLC purchased a new stake in Applied Industrial Technologies in the 2nd quarter worth approximately $40,000. Smartleaf Asset Management LLC increased its holdings in Applied Industrial Technologies by 78.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 177 shares of the industrial products company’s stock worth $46,000 after acquiring an additional 78 shares in the last quarter. Finally, Los Angeles Capital Management LLC bought a new stake in Applied Industrial Technologies during the 4th quarter worth approximately $46,000. Hedge funds and other institutional investors own 93.52% of the company’s stock.

Insider Buying and Selling 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 that occurred on Tuesday, August 18th. The stock was sold at an average price of $355.10, for a total value of $643,441.20. Following the sale, the chief financial officer owned 32,050 shares of the company’s stock, valued at $11,380,955. The trade was a 5.35% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Peter C. Wallace sold 1,904 shares of the company’s stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $340.45, for a total value of $648,216.80. Following the sale, the director directly owned 22,859 shares in the company, valued at $7,782,346.55. This trade represents a 7.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 7,561 shares of company stock worth $2,560,085 in the last quarter. 1.60% of the stock is owned by corporate insiders.

Applied Industrial Technologies Price Performance

AIT stock opened at $324.20 on Tuesday. Applied Industrial Technologies, Inc. has a one year low of $238.34 and a one year high of $374.80. The company’s fifty day moving average price is $340.32 and its 200-day moving average price is $308.58. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.75 and a current ratio of 2.58. The company has a market capitalization of $11.90 billion, a PE ratio of 29.58, a price-to-earnings-growth ratio of 2.59 and a beta of 0.84.

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

Applied Industrial Technologies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Friday, August 14th were issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 0.6%. The ex-dividend date was Friday, August 14th. Applied Industrial Technologies’s dividend payout ratio (DPR) is currently 18.61%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Applied Industrial Technologies in a research report on Tuesday, July 21st. Mizuho raised their price objective on shares of Applied Industrial Technologies from $355.00 to $400.00 and gave the company an “outperform” rating in a research report on Friday, August 14th. Oppenheimer lifted their target price on shares of Applied Industrial Technologies from $350.00 to $390.00 and gave the company an “outperform” rating in a research note on Friday, August 14th. Wall Street Zen raised shares of Applied Industrial Technologies from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Finally, DA Davidson increased their price target on Applied Industrial Technologies from $380.00 to $400.00 and gave the stock a “buy” rating in a research note on Friday, August 14th. Seven research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $400.00.

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.