Global Assets Advisory LLC Invests $471,000 in Applied Industrial Technologies, Inc. $AIT

Global Assets Advisory LLC purchased a new stake in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) in the third quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 1,804 shares of the industrial products company’s stock, valued at approximately $471,000.

Other hedge funds have also bought and sold shares of the company. Ritholtz Wealth Management increased its stake in shares of Applied Industrial Technologies by 0.3% during the second quarter. Ritholtz Wealth Management now owns 15,526 shares of the industrial products company’s stock valued at $3,609,000 after purchasing an additional 53 shares in the last quarter. Farther Finance Advisors LLC boosted its position in shares of Applied Industrial Technologies by 13.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 457 shares of the industrial products company’s stock worth $119,000 after purchasing an additional 53 shares in the last quarter. Harfst & Associates Inc. grew its stake in shares of Applied Industrial Technologies by 0.6% in the 3rd quarter. Harfst & Associates Inc. now owns 10,167 shares of the industrial products company’s stock worth $2,654,000 after buying an additional 56 shares during the last quarter. Focus Partners Wealth increased its position in Applied Industrial Technologies by 4.5% during the 1st quarter. Focus Partners Wealth now owns 1,341 shares of the industrial products company’s stock valued at $302,000 after buying an additional 58 shares in the last quarter. Finally, Edmond DE Rothschild Holding S.A. increased its position in Applied Industrial Technologies by 18.1% during the 2nd quarter. Edmond DE Rothschild Holding S.A. now owns 418 shares of the industrial products company’s stock valued at $97,000 after buying an additional 64 shares in the last quarter. Institutional investors own 93.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Weiss Ratings reissued a “buy (b)” rating on shares of Applied Industrial Technologies in a report on Monday, December 29th. Mizuho set a $305.00 price target on shares of Applied Industrial Technologies in a research note on Wednesday, October 29th. Six investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $287.50.

Applied Industrial Technologies Stock Performance

Shares of AIT stock opened at $280.08 on Monday. The company has a quick ratio of 2.50, a current ratio of 3.55 and a debt-to-equity ratio of 0.30. The company has a 50 day moving average price of $262.61 and a 200-day moving average price of $261.38. Applied Industrial Technologies, Inc. has a 52 week low of $199.96 and a 52 week high of $286.66. The firm has a market capitalization of $10.56 billion, a PE ratio of 26.96, a P/E/G ratio of 2.86 and a beta of 0.87.

Applied Industrial Technologies (NYSE:AIT) last issued its quarterly earnings data on Tuesday, October 28th. The industrial products company reported $2.63 earnings per share for the quarter, beating analysts’ consensus estimates of $2.47 by $0.16. Applied Industrial Technologies had a net margin of 8.61% and a return on equity of 21.86%. The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the prior year, the firm earned $2.36 earnings per share. The firm’s revenue for the quarter was up 9.2% compared to the same quarter last year. Applied Industrial Technologies has set its FY 2026 guidance at 10.100-10.850 EPS. As a group, equities research analysts expect that Applied Industrial Technologies, Inc. will post 9.9 earnings per share for the current year.

About Applied Industrial Technologies

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.