ASK Capital Investment Managers LLC Purchases 12,033 Shares of Applied Industrial Technologies, Inc. $AIT

ASK Capital Investment Managers LLC acquired a new position in Applied Industrial Technologies, Inc. (NYSE:AIT) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 12,033 shares of the industrial products company’s stock, valued at approximately $3,998,000. Applied Industrial Technologies makes up 4.4% of ASK Capital Investment Managers LLC’s portfolio, making the stock its 10th largest position.

A number of other institutional investors have also recently bought and sold shares of AIT. Anchor Investment Management LLC acquired a new position in shares of Applied Industrial Technologies in the 4th quarter valued at about $32,000. Global Retirement Partners LLC purchased a new stake in shares of Applied Industrial Technologies in the second quarter worth approximately $37,000. Kilter Group LLC purchased a new stake in shares of Applied Industrial Technologies in the second quarter worth approximately $40,000. Silvant Capital Management LLC acquired a new stake in shares of Applied Industrial Technologies during the second quarter worth approximately $54,000. Finally, Harbor Investment Advisory LLC acquired a new stake in shares of Applied Industrial Technologies during the second quarter worth approximately $96,000. 93.52% of the stock is currently owned by institutional investors and hedge funds.

Applied Industrial Technologies Stock Performance

Shares of AIT stock opened at $333.00 on Wednesday. Applied Industrial Technologies, Inc. has a fifty-two week low of $238.34 and a fifty-two week high of $374.80. The stock’s 50-day moving average is $335.84 and its two-hundred day moving average is $320.90. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.58 and a quick ratio of 1.75. The firm has a market cap of $12.23 billion, a P/E ratio of 30.46, a PEG ratio of 2.68 and a beta of 0.85.

Applied Industrial Technologies (NYSE:AIT) last announced its quarterly earnings results on Thursday, August 13th. The industrial products company reported $3.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.92 by $0.25. Applied Industrial Technologies had a return on equity of 22.17% and a net margin of 8.35%. The business had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.29 billion. During the same period in the previous year, the company earned $2.80 EPS. The firm’s revenue was up 10.5% on a year-over-year basis. Applied Industrial Technologies has set its FY 2027 guidance at 11.650-12.150 EPS. Analysts predict that Applied Industrial Technologies, Inc. will post 11.96 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Applied Industrial Technologies news, CFO David Wells sold 1,812 shares of Applied Industrial Technologies stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $355.10, for a total value of $643,441.20. Following the completion of the sale, the chief financial officer directly owned 32,050 shares in the company, valued at $11,380,955. The trade was a 5.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Peter Wallace sold 1,904 shares of the business’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 transaction of $648,216.80. Following the completion of the sale, the director directly owned 22,859 shares of the company’s stock, valued at $7,782,346.55. This represents a 7.69% 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 owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Robert W. Baird upped their price objective on shares of Applied Industrial Technologies from $317.00 to $400.00 and gave the company an “outperform” rating in a research note on Friday, August 14th. DA Davidson increased their target price on shares of Applied Industrial Technologies from $380.00 to $400.00 and gave the stock a “buy” rating in a research report on Friday, August 14th. Bank of America lifted their target price on shares of Applied Industrial Technologies from $380.00 to $390.00 and gave the company a “buy” rating in a research note on Friday, August 14th. 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 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 report on Friday, August 14th. One research analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the company’s stock. According to data from MarketBeat.com, Applied Industrial Technologies presently has a consensus rating of “Buy” and a consensus target price of $400.00.

Applied Industrial Technologies Profile

Applied Industrial Technologies, Inc is a distributor and value-added service provider of industrial products and engineered solutions. The company supplies products used to maintain, repair and operate manufacturing, processing, infrastructure and other industrial facilities, including bearings, power-transmission components, fluid-power equipment, industrial motion products, automation technologies, safety products and related supplies.

In addition to distributing products from leading manufacturers, Applied Industrial Technologies provides technical support, engineering, fabrication, repair and maintenance services.