Applied Industrial Technologies, Inc. $AIT Stock Holdings Raised by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D increased its stake in Applied Industrial Technologies, Inc. (NYSE: AIT) by 11.9% in Q2, now holding 11,393 shares valued at $2.65 million. Other institutional investors also adjusted their positions. AIT's stock opened at $258.70, with a 52-week range of $199.96 to $282.98. The company reported $2.63 EPS, exceeding estimates, and announced a quarterly dividend of $0.46. Analysts have mixed ratings, with a consensus of "Moderate Buy" and an average target price of $285.00.

State of New Jersey Common Pension Fund D raised its stake in Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) by 11.9% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 11,393 shares of the industrial products company's stock after purchasing an additional 1,209 shares during the period. State of New Jersey Common Pension Fund D's holdings in Applied Industrial Technologies were worth $2,648,000 as of its most recent SEC filing.

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Several other hedge funds and other institutional investors also recently modified their holdings of AIT. Rise Advisors LLC increased its position 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 purchasing an additional 70 shares during the last quarter. Maseco LLP bought a new stake in shares of Applied Industrial Technologies during the 2nd quarter valued at about $35,000. Wayfinding Financial LLC bought a new stake in shares of Applied Industrial Technologies during the 1st quarter valued at about $38,000. First Horizon Advisors Inc. grew its position in shares of Applied Industrial Technologies by 31.1% during the 1st quarter. First Horizon Advisors Inc. now owns 215 shares of the industrial products company's stock valued at $48,000 after buying an additional 51 shares during the last quarter. Finally, SVB Wealth LLC bought a new stake in shares of Applied Industrial Technologies during the 1st quarter valued at about $48,000. Institutional investors own 93.52% of the company's stock.

Applied Industrial Technologies Price Performance

NYSE AIT opened at $258.70 on Wednesday. Applied Industrial Technologies, Inc. has a 52 week low of $199.96 and a 52 week high of $282.98. The company has a current ratio of 3.32, a quick ratio of 2.36 and a debt-to-equity ratio of 0.31. The stock has a market cap of $9.77 billion, a price-to-earnings ratio of 25.56, a price-to-earnings-growth ratio of 2.75 and a beta of 0.96. The company has a 50-day moving average price of $259.61 and a two-hundred day moving average price of $247.53.

Applied Industrial Technologies (NYSE:AIT - Get Free Report) last posted its earnings results on Tuesday, October 28th. The industrial products company reported $2.63 EPS for the quarter, topping the consensus estimate of $2.47 by $0.16. The firm had revenue of $1.20 billion during the quarter, compared to analysts' expectations of $1.19 billion. Applied Industrial Technologies had a net margin of 8.61% and a return on equity of 21.78%. Applied Industrial Technologies's quarterly revenue was up 9.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.36 EPS. Applied Industrial Technologies has set its FY 2026 guidance at 10.100-10.850 EPS. Analysts forecast that Applied Industrial Technologies, Inc. will post 9.9 EPS for the current year.

Applied Industrial Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be issued a $0.46 dividend. The ex-dividend date is Friday, November 14th. This represents a $1.84 annualized dividend and a dividend yield of 0.7%. Applied Industrial Technologies's dividend payout ratio (DPR) is 18.18%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on AIT shares. Raymond James Financial downgraded shares of Applied Industrial Technologies from an "outperform" rating to a "market perform" rating in a research report on Friday, August 15th. Wall Street Zen raised shares of Applied Industrial Technologies from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Robert W. Baird boosted their price objective on shares of Applied Industrial Technologies from $265.00 to $300.00 and gave the company an "outperform" rating in a research report on Friday, August 15th. Bank of America boosted their price objective 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. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Applied Industrial Technologies in a research report on Wednesday, October 8th. Six analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $285.00.

Get Our Latest Report on Applied Industrial Technologies

Insider Activity

In other news, VP Jason W. Vasquez sold 7,466 shares of the stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $260.08, for a total value of $1,941,757.28. Following the completion of the transaction, the vice president directly owned 14,491 shares in the company, valued at $3,768,819.28. This trade represents a 34.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Kurt W. Loring sold 8,523 shares of the stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $267.06, for a total transaction of $2,276,152.38. Following the completion of the transaction, the vice president owned 19,273 shares of the company's stock, valued at $5,147,047.38. This trade represents a 30.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 42,660 shares of company stock worth $11,217,980 over the last three months. Corporate insiders own 1.60% of the company's stock.

About Applied Industrial Technologies

(Free Report)

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.

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