15,804 Shares in Applied Industrial Technologies, Inc. $AIT Purchased by B. Metzler seel. Sohn & Co. AG

B. Metzler seel. Sohn & Co. AG acquired a new stake in Applied Industrial Technologies, Inc. (NYSE:AIT) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 15,804 shares of the industrial products company’s stock, valued at approximately $5,344,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. BlackRock Inc. bought a new position in shares of Applied Industrial Technologies during the second quarter valued at $1,336,805,000. First Trust Advisors LP grew its holdings in shares of Applied Industrial Technologies by 34.3% in the 1st quarter. First Trust Advisors LP now owns 978,840 shares of the industrial products company’s stock worth $259,706,000 after purchasing an additional 249,961 shares during the last quarter. Capital International Investors increased its position in shares of Applied Industrial Technologies by 25.4% during the 4th quarter. Capital International Investors now owns 962,925 shares of the industrial products company’s stock worth $247,250,000 after purchasing an additional 195,043 shares in the last quarter. Wellington Management Group LLP lifted its holdings in Applied Industrial Technologies by 0.9% during the 4th quarter. Wellington Management Group LLP now owns 776,394 shares of the industrial products company’s stock valued at $199,355,000 after purchasing an additional 6,953 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Applied Industrial Technologies by 0.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 723,700 shares of the industrial products company’s stock valued at $185,833,000 after purchasing an additional 3,348 shares during the last quarter. Institutional investors own 93.52% of the company’s stock.

Insider Buying and Selling

In other news, Director Madhuri A. Andrews sold 3,845 shares of the business’s 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 sale, the director owned 4,951 shares of the company’s stock, valued at $1,633,285.39. The trade was a 43.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO David K. Wells sold 1,812 shares of the stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $355.10, for a total transaction of $643,441.20. Following the transaction, the chief financial officer owned 32,050 shares of the company’s stock, valued at $11,380,955. The trade was a 5.35% decrease in their position. The SEC filing for this sale provides additional information. 1.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

AIT has been the topic of several research analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Applied Industrial Technologies in a research note on Tuesday, July 21st. Bank of America increased their price target on Applied Industrial Technologies from $380.00 to $390.00 and gave the stock a “buy” rating in a research report on Friday, August 14th. Mizuho lifted their price objective on Applied Industrial Technologies from $355.00 to $400.00 and gave the company an “outperform” rating in a research report on Friday, August 14th. KeyCorp boosted their price objective on Applied Industrial Technologies from $375.00 to $420.00 and gave the stock an “overweight” rating in a research note on Friday, August 14th. Finally, Oppenheimer increased their target price on Applied Industrial Technologies from $350.00 to $390.00 and gave the stock an “outperform” rating in a report on Friday, August 14th. Seven equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $400.00.

Applied Industrial Technologies Price Performance

NYSE AIT opened at $341.38 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.75 and a current ratio of 2.58. The stock has a market cap of $12.53 billion, a price-to-earnings ratio of 31.15, a PEG ratio of 2.73 and a beta of 0.84. The business has a 50 day simple moving average of $340.04 and a 200 day simple moving average of $306.27. Applied Industrial Technologies, Inc. has a 52-week low of $238.34 and a 52-week high of $374.80.

Applied Industrial Technologies (NYSE:AIT) last posted its quarterly earnings data on Thursday, August 13th. The industrial products company reported $3.17 EPS for the quarter, beating the consensus estimate of $2.92 by $0.25. The business had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.29 billion. Applied Industrial Technologies had a net margin of 8.35% and a return on equity of 22.17%. The firm’s revenue was up 10.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.80 EPS. Applied Industrial Technologies has set its FY 2027 guidance at 11.650-12.150 EPS. Analysts anticipate that Applied Industrial Technologies, Inc. will post 11.95 earnings per share 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 issued a $0.51 dividend. The ex-dividend date 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 (DPR) is 18.61%.

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.