5,271 Shares in Applied Industrial Technologies, Inc. $AIT Bought by Deutsche Bank AG

Deutsche Bank AG purchased a new stake in Applied Industrial Technologies, Inc. (NYSE:AIT) in the second quarter, HoldingsChannel reports. The fund purchased 5,271 shares of the industrial products company’s stock, valued at approximately $1,782,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of AIT. TimesSquare Capital Management LLC bought a new position in shares of Applied Industrial Technologies during the 2nd quarter worth about $33,325,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Applied Industrial Technologies in the second quarter valued at about $1,182,000. OneDigital Investment Advisors LLC bought a new stake in shares of Applied Industrial Technologies in the second quarter valued at about $514,000. HBK Sorce Advisory LLC acquired a new stake in Applied Industrial Technologies during the second quarter worth about $293,000. Finally, Global Retirement Partners LLC acquired a new stake in Applied Industrial Technologies during the second quarter worth about $37,000. 93.52% of the stock is currently owned by institutional investors and hedge funds.

Applied Industrial Technologies Stock Down 5.1%

NYSE AIT opened at $321.09 on Friday. Applied Industrial Technologies, Inc. has a 1-year low of $238.34 and a 1-year high of $374.80. The company has a market capitalization of $11.78 billion, a price-to-earnings ratio of 29.30, a PEG ratio of 2.72 and a beta of 0.84. The stock’s 50 day moving average is $340.60 and its two-hundred day moving average is $308.11. 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 analysts’ consensus estimates of $2.92 by $0.25. The business had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.29 billion. Applied Industrial Technologies had a return on equity of 22.17% and a net margin of 8.35%.Applied Industrial Technologies’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.80 EPS. Applied Industrial Technologies has set its FY 2027 guidance at 11.650-12.150 EPS. Equities analysts forecast that Applied Industrial Technologies, Inc. will post 11.95 earnings per share for the current fiscal year.

Applied Industrial Technologies Dividend Announcement

The company also recently announced 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. This represents a $2.04 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Friday, August 14th. Applied Industrial Technologies’s payout ratio is currently 18.61%.

Insider Transactions at Applied Industrial Technologies

In other Applied Industrial Technologies news, CFO David K. Wells sold 1,812 shares of the company’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $355.10, for a total transaction of $643,441.20. Following the sale, the chief financial officer directly owned 32,050 shares of the company’s stock, valued at approximately $11,380,955. This represents a 5.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Madhuri A. Andrews sold 3,845 shares of the firm’s stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $329.89, for a total transaction of $1,268,427.05. Following the sale, the director directly owned 4,951 shares of the company’s stock, valued at approximately $1,633,285.39. The trade was a 43.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 7,561 shares of company stock valued at $2,560,085. 1.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Robert W. Baird upped their price target on Applied Industrial Technologies from $317.00 to $400.00 and gave the company an “outperform” rating in a report on Friday, August 14th. Oppenheimer lifted their price objective on Applied Industrial Technologies from $350.00 to $390.00 and gave the stock an “outperform” rating in a report on Friday, August 14th. KeyCorp boosted their price objective on Applied Industrial Technologies from $375.00 to $420.00 and gave the company an “overweight” rating in a research report on Friday, August 14th. Wall Street Zen upgraded Applied Industrial Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. Finally, Mizuho raised their target price on Applied Industrial Technologies from $355.00 to $400.00 and gave the stock an “outperform” rating in a research report on Friday, August 14th. Seven research analysts have rated the stock with a Buy rating, According to MarketBeat, Applied Industrial Technologies has a consensus rating of “Buy” and a consensus price target of $400.00.

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.