15,632 Shares in Applied Industrial Technologies, Inc. $AIT Bought by WINTON GROUP Ltd

WINTON GROUP Ltd acquired a new position in Applied Industrial Technologies, Inc. (NYSE:AIT) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 15,632 shares of the industrial products company’s stock, valued at approximately $5,286,000.

Several other large investors have also recently added to or reduced their stakes in AIT. California State Teachers Retirement System increased its holdings in shares of Applied Industrial Technologies by 32,761.6% during the second quarter. California State Teachers Retirement System now owns 14,593,201 shares of the industrial products company’s stock valued at $4,934,691,000 after purchasing an additional 14,548,793 shares during the period. BlackRock Inc. acquired a new position in Applied Industrial Technologies in the second quarter worth approximately $1,336,805,000. Corient Private Wealth LLC grew its holdings in shares of Applied Industrial Technologies by 22,451.0% in the 4th quarter. Corient Private Wealth LLC now owns 585,423 shares of the industrial products company’s stock worth $150,319,000 after acquiring an additional 582,827 shares during the last quarter. Norges Bank acquired a new stake in Applied Industrial Technologies during the 4th quarter worth about $125,044,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Applied Industrial Technologies in the 2nd quarter valued at approximately $93,672,000. 93.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. KeyCorp raised their price objective on Applied Industrial Technologies from $375.00 to $420.00 and gave the stock an “overweight” rating in a research report on Friday, August 14th. Oppenheimer raised their price target on Applied Industrial Technologies from $350.00 to $390.00 and gave the stock an “outperform” rating in a research note on Friday, August 14th. Mizuho boosted their price target on Applied Industrial Technologies from $355.00 to $400.00 and gave the company an “outperform” rating in a research note on Friday, August 14th. Bank of America boosted their price target on Applied Industrial Technologies from $380.00 to $390.00 and gave the company a “buy” rating in a research note on Friday, August 14th. Finally, Wall Street Zen upgraded Applied Industrial Technologies from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Seven analysts have rated the stock with a Buy rating, According to MarketBeat.com, Applied Industrial Technologies has a consensus rating of “Buy” and a consensus price target of $400.00.

Insider Buying and Selling

In other news, Director Peter C. Wallace sold 1,904 shares of Applied Industrial Technologies stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $340.45, for a total value of $648,216.80. Following the transaction, the director owned 22,859 shares of the company’s stock, valued at $7,782,346.55. This trade represents a 7.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Madhuri A. Andrews sold 3,845 shares of Applied Industrial Technologies stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $329.89, for a total transaction of $1,268,427.05. Following the completion of the transaction, the director directly owned 4,951 shares in the company, valued at approximately $1,633,285.39. This represents a 43.71% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 7,561 shares of company stock worth $2,560,085. 1.60% of the stock is currently owned by insiders.

Applied Industrial Technologies Trading Down 1.9%

Applied Industrial Technologies stock opened at $318.54 on Friday. 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 company has a market capitalization of $11.69 billion, a price-to-earnings ratio of 29.06, a PEG ratio of 2.61 and a beta of 0.83. 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 $338.33 and its two-hundred day moving average price is $310.91.

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

Applied Industrial Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Friday, August 14th were issued a $0.51 dividend. 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 payout ratio is 18.61%.

Applied Industrial Technologies Company Profile

Applied Industrial Technologies, Inc (NYSE: AIT) is a distributor and value-added service provider for industrial and maintenance, repair and operations (MRO) markets. The company supplies products used to keep manufacturing, processing, infrastructure and other industrial operations running, including bearings, power-transmission components, industrial motion products, fluid power equipment, hose and fittings, industrial rubber products, safety supplies and automation components.

In addition to product distribution, Applied Industrial Technologies provides engineering, design, fabrication, repair, assembly, technical support and other application-focused services.