Fifth Third Bancorp Has $524,000 Position in Applied Industrial Technologies, Inc. $AIT

Fifth Third Bancorp lessened its position in Applied Industrial Technologies, Inc. (NYSE:AIT) by 5.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,255 shares of the industrial products company’s stock after selling 123 shares during the quarter. Fifth Third Bancorp’s holdings in Applied Industrial Technologies were worth $524,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. MassMutual Private Wealth & Trust FSB grew its stake in Applied Industrial Technologies by 51.2% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 130 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 44 shares in the last quarter. Rise Advisors LLC raised its holdings in Applied Industrial Technologies by 111.1% in the 1st quarter. Rise Advisors LLC now owns 133 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 70 shares in the last quarter. Harbor Investment Advisory LLC raised its holdings in shares of Applied Industrial Technologies by 97.5% during the 1st quarter. Harbor Investment Advisory LLC now owns 160 shares of the industrial products company’s stock worth $36,000 after buying an additional 79 shares in the last quarter. Wayfinding Financial LLC acquired a new position in shares of Applied Industrial Technologies during the 1st quarter worth $38,000. Finally, Opal Wealth Advisors LLC acquired a new position in shares of Applied Industrial Technologies during the 1st quarter worth $41,000. 93.52% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO Neil A. Schrimsher sold 26,671 shares of the firm’s stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $262.46, for a total value of $7,000,070.66. Following the sale, the chief executive officer directly 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 Securities & Exchange Commission, which is available through this link. Also, VP Kurt W. Loring sold 8,523 shares of Applied Industrial Technologies stock in a transaction that occurred on Friday, August 22nd. The shares were 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 in the company, valued at approximately $5,147,047.38. The trade was a 30.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 42,660 shares of company stock valued at $11,217,980 over the last ninety days. 1.60% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages recently weighed in on AIT. Oppenheimer boosted their price objective on Applied Industrial Technologies from $290.00 to $300.00 and gave the stock an “outperform” rating in a research report on Friday, August 15th. Industrial Alliance Securities set a $290.00 price objective on Applied Industrial Technologies in a research report on Friday, August 22nd. Robert W. Baird upped their price target on Applied Industrial Technologies from $265.00 to $300.00 and gave the company an “outperform” rating in a research report on Friday, August 15th. Raymond James Financial lowered Applied Industrial Technologies from an “outperform” rating to a “market perform” rating in a research report on Friday, August 15th. Finally, Bank of America upped their price target on Applied Industrial Technologies from $275.00 to $290.00 and gave the company a “buy” rating in a research report on Friday, August 22nd. Six analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Applied Industrial Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $285.00.

Applied Industrial Technologies Trading Down 1.3%

Shares of AIT stock opened at $258.10 on Tuesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.36 and a current ratio of 3.32. Applied Industrial Technologies, Inc. has a 52-week low of $199.96 and a 52-week high of $282.98. The company has a market capitalization of $9.74 billion, a PE ratio of 25.50, a price-to-earnings-growth ratio of 2.76 and a beta of 1.00. The business’s fifty day moving average is $265.12 and its 200 day moving average is $243.19.

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

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.