Applied Industrial Technologies, Inc. $AIT Shares Bought by Cresset Asset Management LLC

Cresset Asset Management LLC lifted its holdings in Applied Industrial Technologies, Inc. (NYSE:AIT) by 13.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,937 shares of the industrial products company’s stock after purchasing an additional 226 shares during the period. Cresset Asset Management LLC’s holdings in Applied Industrial Technologies were worth $437,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in AIT. Cambridge Investment Research Advisors Inc. increased its position in shares of Applied Industrial Technologies by 7.3% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 3,103 shares of the industrial products company’s stock worth $699,000 after acquiring an additional 210 shares in the last quarter. Janney Montgomery Scott LLC increased its position in shares of Applied Industrial Technologies by 6.6% in the first quarter. Janney Montgomery Scott LLC now owns 5,248 shares of the industrial products company’s stock worth $1,183,000 after acquiring an additional 323 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Applied Industrial Technologies by 17.7% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 1,501 shares of the industrial products company’s stock worth $338,000 after acquiring an additional 226 shares in the last quarter. Sequoia Financial Advisors LLC increased its position in shares of Applied Industrial Technologies by 26.0% in the first quarter. Sequoia Financial Advisors LLC now owns 1,811 shares of the industrial products company’s stock worth $408,000 after acquiring an additional 374 shares in the last quarter. Finally, Spire Wealth Management increased its position in shares of Applied Industrial Technologies by 11.3% in the first quarter. Spire Wealth Management now owns 2,583 shares of the industrial products company’s stock worth $582,000 after acquiring an additional 262 shares in the last quarter. Institutional investors and hedge funds own 93.52% of the company’s stock.

Insider Buying and Selling

In other news, CEO Neil A. Schrimsher sold 26,671 shares of Applied Industrial Technologies stock in a transaction that occurred 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 owned 149,735 shares of the company’s stock, valued at $39,299,448.10. This trade represents a 15.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Jason W. Vasquez sold 7,466 shares of Applied Industrial Technologies stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $260.08, for a total transaction of $1,941,757.28. Following the completion of the transaction, the vice president directly owned 14,491 shares in the company, valued at approximately $3,768,819.28. This represents a 34.00% decrease in their position. The disclosure for this sale can be found here. 1.67% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Wall Street Zen raised shares of Applied Industrial Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, July 26th. Oppenheimer lifted their target price on shares of Applied Industrial Technologies from $290.00 to $300.00 and gave the stock an “outperform” rating in a research report on Friday, August 15th. Bank of America lifted their target price on shares of Applied Industrial Technologies from $275.00 to $290.00 and gave the stock a “buy” rating in a research report on Friday. Raymond James Financial downgraded shares of Applied Industrial Technologies from an “outperform” rating to a “market perform” rating in a research report on Friday, August 15th. Finally, Robert W. Baird lifted their target price on shares of Applied Industrial Technologies from $265.00 to $300.00 and gave the stock an “outperform” rating in a research report on Friday, August 15th. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Applied Industrial Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $284.29.

Applied Industrial Technologies Stock Performance

AIT stock opened at $266.5730 on Monday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.36 and a current ratio of 3.32. The stock has a market cap of $10.06 billion, a P/E ratio of 26.34, a P/E/G ratio of 2.82 and a beta of 0.94. The firm has a 50 day simple moving average of $254.25 and a 200 day simple moving average of $240.11. Applied Industrial Technologies, Inc. has a 52 week low of $191.31 and a 52 week high of $282.98.

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

Applied Industrial Technologies declared that its board has approved a share buyback plan on Thursday, May 1st that permits the company to repurchase 1,500,000 outstanding shares. This repurchase authorization permits the industrial products company to reacquire shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

Applied Industrial Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be paid a $0.46 dividend. The ex-dividend date is Friday, August 15th. This represents a $1.84 dividend on an annualized basis and a yield of 0.7%. Applied Industrial Technologies’s payout ratio is 18.18%.

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.