Wealth Enhancement Advisory Services LLC Grows Stock Holdings in Applied Industrial Technologies, Inc. $AIT

Wealth Enhancement Advisory Services LLC lifted its position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 15.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,728 shares of the industrial products company’s stock after acquiring an additional 227 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Applied Industrial Technologies were worth $425,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in AIT. Harbor Capital Advisors Inc. grew its holdings in shares of Applied Industrial Technologies by 3.8% in the second quarter. Harbor Capital Advisors Inc. now owns 15,290 shares of the industrial products company’s stock valued at $3,554,000 after purchasing an additional 556 shares in the last quarter. Gallacher Capital Management LLC purchased a new stake in shares of Applied Industrial Technologies in the second quarter valued at about $317,000. Thurston Springer Miller Herd & Titak Inc. lifted its stake in shares of Applied Industrial Technologies by 22.9% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 7,035 shares of the industrial products company’s stock valued at $1,635,000 after buying an additional 1,311 shares during the period. Harbor Investment Advisory LLC boosted its holdings in shares of Applied Industrial Technologies by 100.6% in the 2nd quarter. Harbor Investment Advisory LLC now owns 321 shares of the industrial products company’s stock valued at $75,000 after purchasing an additional 161 shares during the last quarter. Finally, Voya Investment Management LLC raised its stake in shares of Applied Industrial Technologies by 522.2% in the 1st quarter. Voya Investment Management LLC now owns 143,696 shares of the industrial products company’s stock valued at $32,380,000 after acquiring an additional 120,602 shares during the period. 93.52% of the stock is currently owned by hedge funds and other 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 on Thursday, August 21st. The shares were sold at an average price of $262.46, for a total transaction of $7,000,070.66. Following the sale, the chief executive officer directly owned 149,735 shares in the company, valued at $39,299,448.10. This trade represents a 15.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Jason W. Vasquez sold 7,466 shares of the business’s stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $260.08, for a total value of $1,941,757.28. Following the completion of the sale, the vice president owned 14,491 shares in the company, valued at $3,768,819.28. The trade was a 34.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 42,660 shares of company stock valued at $11,217,980 in the last 90 days. 1.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on AIT. Wall Street Zen upgraded Applied Industrial Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, July 26th. Raymond James Financial cut Applied Industrial Technologies from an “outperform” rating to a “market perform” rating in a research note on Friday, August 15th. Industrial Alliance Securities set a $290.00 price objective on shares of Applied Industrial Technologies in a research report on Friday, August 22nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Applied Industrial Technologies in a research note on Saturday, September 27th. Finally, Bank of America raised their price target on Applied Industrial Technologies from $275.00 to $290.00 and gave the stock a “buy” rating in a research note on Friday, August 22nd. Seven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Applied Industrial Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $285.00.

Applied Industrial Technologies Trading Up 0.4%

Shares of AIT opened at $259.36 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. The stock has a fifty day moving average price of $264.11 and a two-hundred day moving average price of $244.32. 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 cap of $9.79 billion, a price-to-earnings ratio of 25.63, a PEG ratio of 2.73 and a beta of 0.96.

Applied Industrial Technologies (NYSE:AIT) last announced its quarterly earnings data on Thursday, August 14th. The industrial products company reported $2.80 EPS 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 firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.18 billion. During the same period last year, the company earned $2.64 EPS. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. Applied Industrial Technologies has set its FY 2026 guidance at 10.000-10.75 EPS. Analysts predict that Applied Industrial Technologies, Inc. will post 9.9 EPS for the current fiscal year.

Applied Industrial Technologies 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.