Vise Technologies Inc. Buys Shares of 2,175 Applied Industrial Technologies, Inc. $AIT

Vise Technologies Inc. acquired a new position in Applied Industrial Technologies, Inc. (NYSE:AIT) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 2,175 shares of the industrial products company’s stock, valued at approximately $735,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Edmond DE Rothschild Holding S.A. bought a new stake in Applied Industrial Technologies during the second quarter valued at about $148,000. Lisanti Capital Growth LLC acquired a new position in Applied Industrial Technologies during the 2nd quarter valued at approximately $1,378,000. West Family Investments Inc. acquired a new position in shares of Applied Industrial Technologies in the 2nd quarter valued at $484,000. Citizens Financial Group Inc. RI purchased a new position in shares of Applied Industrial Technologies in the second quarter worth about $577,000. Finally, BlackRock Inc. purchased a new position in Applied Industrial Technologies during the 2nd quarter worth approximately $1,336,805,000. Institutional investors own 93.52% of the company’s stock.

Insider Buying and Selling at Applied Industrial Technologies

In other Applied Industrial Technologies news, Director Madhuri A. Andrews sold 3,845 shares of the stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $329.89, for a total value of $1,268,427.05. Following the transaction, the director directly owned 4,951 shares in the company, valued at $1,633,285.39. This represents a 43.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO David K. Wells sold 1,812 shares of Applied Industrial Technologies stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $355.10, for a total transaction of $643,441.20. Following the sale, the chief financial officer owned 32,050 shares in the company, valued at $11,380,955. This represents a 5.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Wall Street Zen upgraded Applied Industrial Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. KeyCorp lifted their target price on shares of Applied Industrial Technologies from $375.00 to $420.00 and gave the company an “overweight” rating in a research report on Friday, August 14th. DA Davidson increased their price objective on Applied Industrial Technologies from $380.00 to $400.00 and gave the company a “buy” rating in a research note on Friday, August 14th. Bank of America raised their target price on shares of Applied Industrial Technologies from $380.00 to $390.00 and gave the stock a “buy” rating in a research note on Friday, August 14th. Finally, Oppenheimer boosted their price target on shares of Applied Industrial Technologies from $350.00 to $390.00 and gave the company an “outperform” rating in a research report on Friday, August 14th. Seven equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $400.00.

Applied Industrial Technologies Price Performance

AIT stock opened at $341.38 on Monday. The company has a market capitalization of $12.53 billion, a PE ratio of 31.15, a P/E/G ratio of 2.74 and a beta of 0.84. Applied Industrial Technologies, Inc. has a 12-month low of $238.34 and a 12-month high of $374.80. The company has a current ratio of 2.58, a quick ratio of 1.75 and a debt-to-equity ratio of 0.14. The business’s fifty day moving average price is $340.04 and its 200 day moving average price is $306.52.

Applied Industrial Technologies (NYSE:AIT) last posted its quarterly earnings data on Thursday, August 13th. The industrial products company reported $3.17 EPS for the quarter, beating the consensus estimate of $2.92 by $0.25. The business 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%. The business’s revenue for the quarter was up 10.5% compared to the same quarter last year. 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 anticipate that Applied Industrial Technologies, Inc. will post 11.95 EPS for the current year.

Applied Industrial Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Friday, August 14th will be issued a $0.51 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $2.04 annualized dividend and a yield of 0.6%. Applied Industrial Technologies’s dividend payout ratio (DPR) is 18.61%.

Applied Industrial Technologies Company 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.