OneDigital Investment Advisors LLC Takes Position in Applied Industrial Technologies, Inc. $AIT

OneDigital Investment Advisors LLC purchased a new position in Applied Industrial Technologies, Inc. (NYSE:AIT) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,519 shares of the industrial products company’s stock, valued at approximately $514,000.

Other large investors also recently modified their holdings of the company. HBK Sorce Advisory LLC purchased a new position in Applied Industrial Technologies during the second quarter valued at approximately $293,000. Global Retirement Partners LLC bought a new stake in Applied Industrial Technologies during the 2nd quarter worth approximately $37,000. Bank of New York Mellon Corp purchased a new stake in Applied Industrial Technologies in the 2nd quarter worth approximately $93,672,000. Focus Partners Advisor Solutions LLC bought a new position in Applied Industrial Technologies in the 2nd quarter valued at $914,000. Finally, GSA Capital Partners LLP bought a new position in Applied Industrial Technologies in the 2nd quarter valued at $757,000. 93.52% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. DA Davidson upped their price target on shares of Applied Industrial Technologies from $380.00 to $400.00 and gave the stock a “buy” rating in a report on Friday, August 14th. Oppenheimer boosted their target price on Applied Industrial Technologies from $350.00 to $390.00 and gave the stock an “outperform” rating in a research report on Friday. Mizuho upped their target price on Applied Industrial Technologies from $355.00 to $400.00 and gave the stock an “outperform” rating in a research note on Friday, August 14th. Wall Street Zen raised Applied Industrial Technologies from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Applied Industrial Technologies in a research report on Tuesday, July 21st. Seven analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $384.29.

Applied Industrial Technologies Stock Performance

Shares of NYSE AIT opened at $353.59 on Wednesday. The stock’s 50-day moving average is $338.55 and its 200 day moving average is $304.85. The stock has a market cap of $13.07 billion, a price-to-earnings ratio of 32.26, a P/E/G ratio of 3.08 and a beta of 0.84. Applied Industrial Technologies, Inc. has a 1-year low of $238.34 and a 1-year high of $374.80. The company has a current ratio of 2.58, a quick ratio of 1.75 and a debt-to-equity ratio of 0.14.

Applied Industrial Technologies (NYSE:AIT) last issued its earnings results on Thursday, August 13th. The industrial products company reported $3.17 earnings per share (EPS) for the quarter, topping 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 quarter in the prior year, the firm earned $2.80 earnings per share. Applied Industrial Technologies’s revenue for the quarter 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. On average, sell-side analysts anticipate that Applied Industrial Technologies, Inc. will post 11.95 EPS for the current fiscal year.

Applied Industrial Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Friday, August 14th will be paid a $0.51 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.6%. Applied Industrial Technologies’s dividend payout ratio is 18.61%.

Insider Buying and Selling

In related news, Director Madhuri A. Andrews sold 3,845 shares of Applied Industrial Technologies stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $329.89, for a total value of $1,268,427.05. Following the transaction, the director owned 4,951 shares in the company, valued at $1,633,285.39. This trade represents a 43.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.60% of the stock is currently owned by insiders.

Applied Industrial Technologies Company Profile

Applied Industrial Technologies, listed on the New York Stock Exchange under the symbol AIT, is a leading distributor of industrial products and services. The company offers a comprehensive range of bearings, power transmission components, fluid power products, industrial rubber products, and automation solutions. Through its network of distribution centers and branch locations, Applied Industrial Technologies serves diverse end markets including manufacturing, oil and gas, mining, food and beverage, and wastewater treatment.

Founded in 1923 and headquartered in Cleveland, Ohio, Applied Industrial Technologies has grown through a combination of organic expansion and strategic acquisitions.