US Bancorp DE Sells 250 Shares of Applied Industrial Technologies, Inc. $AIT

US Bancorp DE cut its stake in Applied Industrial Technologies, Inc. (NYSE:AIT) by 0.5% in the 2nd quarter, Holdings Channel reports. The firm owned 46,811 shares of the industrial products company’s stock after selling 250 shares during the period. US Bancorp DE’s holdings in Applied Industrial Technologies were worth $10,881,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. raised its holdings in Applied Industrial Technologies by 7.3% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 3,103 shares of the industrial products company’s stock worth $699,000 after purchasing an additional 210 shares in the last quarter. Janney Montgomery Scott LLC raised its holdings in Applied Industrial Technologies by 6.6% in the 1st quarter. Janney Montgomery Scott LLC now owns 5,248 shares of the industrial products company’s stock worth $1,183,000 after purchasing an additional 323 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Applied Industrial Technologies by 17.7% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 1,501 shares of the industrial products company’s stock worth $338,000 after purchasing an additional 226 shares in the last quarter. Sequoia Financial Advisors LLC increased its stake in shares of Applied Industrial Technologies by 26.0% in the 1st 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 stake in shares of Applied Industrial Technologies by 11.3% in the 1st 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. 93.52% of the stock is currently owned by institutional investors.

Applied Industrial Technologies Stock Down 2.1%

NYSE:AIT opened at $245.81 on Friday. The firm has a market cap of $9.28 billion, a P/E ratio of 24.29, a P/E/G ratio of 2.60 and a beta of 0.96. 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 fifty-two week low of $199.96 and a fifty-two week high of $282.98. The firm has a 50-day simple moving average of $262.58 and a two-hundred day simple moving average of $244.71.

Applied Industrial Technologies (NYSE:AIT) last announced its quarterly earnings results on Thursday, August 14th. The industrial products company reported $2.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.60 by $0.20. The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.18 billion. Applied Industrial Technologies had a net margin of 8.61% and a return on equity of 21.78%. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter last year, the firm posted $2.64 EPS. 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 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

AIT has been the subject of several research reports. Robert W. Baird increased their price target on shares of Applied Industrial Technologies from $265.00 to $300.00 and gave the stock an “outperform” rating in a research note on Friday, August 15th. Wall Street Zen upgraded shares of Applied Industrial Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, July 26th. Industrial Alliance Securities set a $290.00 price target on shares of Applied Industrial Technologies in a research note on Friday, August 22nd. Weiss Ratings reiterated a “buy (b)” rating on shares of Applied Industrial Technologies in a research note on Wednesday. Finally, Oppenheimer increased their price target on shares of Applied Industrial Technologies from $290.00 to $300.00 and gave the stock an “outperform” rating in a research note on Friday, August 15th. Seven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $285.00.

Insider Activity

In other news, VP Jason W. Vasquez sold 7,466 shares of the firm’s stock in a transaction dated 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 sale, the vice president owned 14,491 shares of the company’s stock, valued at $3,768,819.28. This trade represents a 34.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Neil A. Schrimsher sold 26,671 shares of the firm’s stock in a transaction dated 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 approximately $39,299,448.10. The trade was a 15.12% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 42,660 shares of company stock valued at $11,217,980 in the last 90 days. 1.60% of the stock is currently owned by insiders.

About Applied Industrial Technologies

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.