873 Shares in Applied Industrial Technologies, Inc. $AIT Purchased by Monument Capital Management

Monument Capital Management bought a new position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 873 shares of the industrial products company’s stock, valued at approximately $203,000.

Several other institutional investors have also recently made changes to their positions in the business. Maryland State Retirement & Pension System purchased a new stake in shares of Applied Industrial Technologies during the second quarter worth about $430,000. KLP Kapitalforvaltning AS grew its position in shares of Applied Industrial Technologies by 3.9% during the second quarter. KLP Kapitalforvaltning AS now owns 10,600 shares of the industrial products company’s stock worth $2,464,000 after purchasing an additional 400 shares in the last quarter. 111 Capital purchased a new stake in shares of Applied Industrial Technologies during the second quarter worth about $980,000. QRG Capital Management Inc. grew its position in shares of Applied Industrial Technologies by 11.7% during the second quarter. QRG Capital Management Inc. now owns 8,311 shares of the industrial products company’s stock worth $1,932,000 after purchasing an additional 871 shares in the last quarter. Finally, Mountain Pacific Investment Advisers LLC grew its position in shares of Applied Industrial Technologies by 0.7% during the second quarter. Mountain Pacific Investment Advisers LLC now owns 61,137 shares of the industrial products company’s stock worth $14,211,000 after purchasing an additional 427 shares in the last quarter. Hedge funds and other institutional investors own 93.52% of the company’s stock.

Insider Buying and Selling

In related news, CEO Neil A. Schrimsher sold 26,671 shares of the firm’s stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $262.46, for a total transaction of $7,000,070.66. Following the completion of the sale, the chief executive officer directly owned 149,735 shares of the company’s stock, valued at approximately $39,299,448.10. This trade represents a 15.12% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Kurt W. Loring sold 8,523 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $267.06, for a total value of $2,276,152.38. Following the sale, the vice president directly owned 19,273 shares of the company’s stock, valued at $5,147,047.38. This represents a 30.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 42,660 shares of company stock valued at $11,217,980. Insiders own 1.60% of the company’s stock.

Applied Industrial Technologies Price Performance

NYSE:AIT opened at $245.81 on Friday. The firm has a market capitalization of $9.28 billion, a price-to-earnings ratio of 24.29, a PEG ratio of 2.65 and a beta of 0.96. Applied Industrial Technologies, Inc. has a 1 year low of $199.96 and a 1 year high of $282.98. The business has a 50 day simple moving average of $262.58 and a 200-day simple moving average of $244.63. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.32 and a quick ratio of 2.36.

Applied Industrial Technologies (NYSE:AIT) last posted its quarterly earnings data on Thursday, August 14th. The industrial products company reported $2.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.60 by $0.20. The business had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.18 billion. Applied Industrial Technologies had a return on equity of 21.78% and a net margin of 8.61%.The company’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period last year, the company earned $2.64 EPS. Applied Industrial Technologies has set its FY 2026 guidance at 10.000-10.75 EPS. Equities analysts forecast that Applied Industrial Technologies, Inc. will post 9.9 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on AIT shares. Wall Street Zen upgraded Applied Industrial Technologies from a “hold” rating to a “buy” rating in a report on Saturday, July 26th. Bank of America raised their price target on Applied Industrial Technologies from $275.00 to $290.00 and gave the company a “buy” rating in a report on Friday, August 22nd. Robert W. Baird raised their price target on Applied Industrial Technologies from $265.00 to $300.00 and gave the company an “outperform” rating in a report on Friday, August 15th. Industrial Alliance Securities set a $290.00 price target on Applied Industrial Technologies in a report on Friday, August 22nd. Finally, Oppenheimer raised their price target on Applied Industrial Technologies from $290.00 to $300.00 and gave the company an “outperform” rating in a report on Friday, August 15th. Seven analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $285.00.

Applied Industrial Technologies Company Profile

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.