WCM Investment Management LLC Boosts Holdings in Applied Industrial Technologies, Inc. $AIT

WCM Investment Management LLC boosted its position in Applied Industrial Technologies, Inc. (NYSE:AIT) by 54.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 142,660 shares of the industrial products company’s stock after purchasing an additional 50,505 shares during the quarter. WCM Investment Management LLC owned about 0.37% of Applied Industrial Technologies worth $33,053,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in AIT. Rise Advisors LLC increased its holdings in shares of Applied Industrial Technologies by 111.1% in the 1st 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 last quarter. Maseco LLP purchased a new position in shares of Applied Industrial Technologies in the second quarter valued at about $35,000. Wayfinding Financial LLC purchased a new position in shares of Applied Industrial Technologies in the first quarter valued at about $38,000. First Horizon Advisors Inc. lifted its position in shares of Applied Industrial Technologies by 31.1% in the 1st quarter. First Horizon Advisors Inc. now owns 215 shares of the industrial products company’s stock worth $48,000 after purchasing an additional 51 shares during the period. Finally, SVB Wealth LLC purchased a new stake in shares of Applied Industrial Technologies in the 1st quarter worth about $48,000. Institutional investors own 93.52% of the company’s stock.

Insider Activity at Applied Industrial Technologies

In related news, CEO Neil A. Schrimsher sold 26,671 shares of the company’s stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $262.46, for a total transaction of $7,000,070.66. Following the sale, the chief executive officer owned 149,735 shares of the company’s stock, valued at $39,299,448.10. This represents a 15.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Jason W. Vasquez sold 7,466 shares of the stock in a transaction on 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 directly owned 14,491 shares in the company, valued at approximately $3,768,819.28. This represents a 34.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 42,660 shares of company stock valued at $11,217,980 over the last 90 days. 1.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on AIT. Industrial Alliance Securities set a $290.00 target price on shares of Applied Industrial Technologies in a research report on Friday, August 22nd. Oppenheimer lifted their target price on shares of Applied Industrial Technologies from $290.00 to $300.00 and gave the stock an “outperform” rating in a report on Friday, August 15th. Weiss Ratings reiterated a “buy (b)” rating on shares of Applied Industrial Technologies in a research note on Wednesday, October 8th. Robert W. Baird lifted their price target 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. Finally, Bank of America boosted their target price on shares of Applied Industrial Technologies from $275.00 to $290.00 and gave the company a “buy” rating in a research report on Friday, August 22nd. Seven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $285.00.

Applied Industrial Technologies Price Performance

AIT stock opened at $247.62 on Thursday. Applied Industrial Technologies, Inc. has a one year low of $199.96 and a one year high of $282.98. The company’s fifty day moving average price is $261.51 and its 200-day moving average price is $245.02. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.36 and a current ratio of 3.32. The company has a market capitalization of $9.35 billion, a PE ratio of 24.47, a price-to-earnings-growth ratio of 2.67 and a beta of 0.96.

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. Applied Industrial Technologies had a net margin of 8.61% and a return on equity of 21.78%. The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter in the previous year, the firm earned $2.64 earnings per share. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. Applied Industrial Technologies has set its FY 2026 guidance at 10.000-10.75 EPS. On average, equities analysts anticipate that Applied Industrial Technologies, Inc. will post 9.9 EPS for the current fiscal year.

Applied Industrial Technologies 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.