3,979 Shares in Applied Industrial Technologies, Inc. $AIT Purchased by New York Life Investment Management LLC

New York Life Investment Management LLC acquired 3,979 shares of Applied Industrial Technologies, Inc. (NYSE: AIT) valued at approximately $925,000 during the 2nd quarter. Other institutional investors have also increased their stakes in the company. Analysts have given AIT a "Moderate Buy" rating with an average target price of $287.50. The company reported a quarterly EPS of $2.63, exceeding estimates, and announced a quarterly dividend of $0.46 per share, payable on November 28th.

New York Life Investment Management LLC purchased a new position in Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 3,979 shares of the industrial products company's stock, valued at approximately $925,000.

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Several other institutional investors and hedge funds have also bought and sold shares of AIT. GAMMA Investing LLC boosted its holdings in shares of Applied Industrial Technologies by 2.9% in the 2nd quarter. GAMMA Investing LLC now owns 1,453 shares of the industrial products company's stock valued at $338,000 after acquiring an additional 41 shares during the last quarter. First Horizon Advisors Inc. lifted its position in Applied Industrial Technologies by 31.1% during the first quarter. First Horizon Advisors Inc. now owns 215 shares of the industrial products company's stock valued at $48,000 after purchasing an additional 51 shares during the period. Ritholtz Wealth Management boosted its holdings in Applied Industrial Technologies by 0.3% in the second quarter. Ritholtz Wealth Management now owns 15,526 shares of the industrial products company's stock valued at $3,609,000 after purchasing an additional 53 shares during the last quarter. Contravisory Investment Management Inc. grew its position in Applied Industrial Technologies by 9.9% during the 2nd quarter. Contravisory Investment Management Inc. now owns 645 shares of the industrial products company's stock worth $150,000 after purchasing an additional 58 shares during the period. Finally, Focus Partners Wealth raised its stake in shares of Applied Industrial Technologies by 4.5% during the 1st quarter. Focus Partners Wealth now owns 1,341 shares of the industrial products company's stock valued at $302,000 after buying an additional 58 shares during the last quarter. 93.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on AIT. Bank of America lifted their target price on shares of Applied Industrial Technologies from $275.00 to $290.00 and gave the company a "buy" rating in a report on Friday, August 22nd. Oppenheimer increased their target price on Applied Industrial Technologies from $290.00 to $300.00 and gave the company an "outperform" rating in a report on Friday, August 15th. Mizuho set a $305.00 price target on shares of Applied Industrial Technologies in a research note on Wednesday. Wall Street Zen raised Applied Industrial Technologies from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Finally, Industrial Alliance Securities set a $290.00 target price on shares of Applied Industrial Technologies in a report on Friday, August 22nd. Six research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Applied Industrial Technologies currently has an average rating of "Moderate Buy" and an average target price of $287.50.

View Our Latest Stock Analysis on Applied Industrial Technologies

Applied Industrial Technologies Price Performance

Applied Industrial Technologies stock opened at $257.16 on Friday. The firm has a market cap of $9.71 billion, a PE ratio of 24.75, a price-to-earnings-growth ratio of 2.61 and a beta of 0.96. The company's 50 day moving average is $259.21 and its two-hundred day moving average is $248.15. Applied Industrial Technologies, Inc. has a 52-week low of $199.96 and a 52-week high of $282.98. The company has a quick ratio of 2.36, a current ratio of 3.55 and a debt-to-equity ratio of 0.30.

Applied Industrial Technologies (NYSE:AIT - Get Free Report) last released 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. Applied Industrial Technologies had a return on equity of 21.86% and a net margin of 8.61%.The firm had revenue of $1.20 billion during the quarter, compared to analysts' expectations of $1.19 billion. During the same period in the previous year, the firm posted $2.36 EPS. Applied Industrial Technologies's revenue for the quarter was up 9.2% on a year-over-year basis. Applied Industrial Technologies has set its FY 2026 guidance at 10.100-10.850 EPS. On average, research analysts expect that Applied Industrial Technologies, Inc. will post 9.9 EPS for the current fiscal year.

Applied Industrial Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Friday, November 14th. Applied Industrial Technologies's payout ratio is 17.71%.

Insider Transactions at Applied Industrial Technologies

In related news, CEO Neil A. Schrimsher sold 26,671 shares of the stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $262.46, for a total value of $7,000,070.66. Following the transaction, the chief executive officer directly owned 149,735 shares of the company's stock, valued at $39,299,448.10. This trade represents a 15.12% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Jason W. Vasquez sold 7,466 shares of the firm's stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $260.08, for a total value of $1,941,757.28. Following the transaction, the vice president directly owned 14,491 shares in the company, valued at approximately $3,768,819.28. The trade was a 34.00% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 42,660 shares of company stock valued at $11,217,980. 1.60% of the stock is currently owned by corporate insiders.

Applied Industrial Technologies Profile

(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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