Kanawha Capital Management LLC Has $957,000 Holdings in Applied Industrial Technologies, Inc. $AIT

Kanawha Capital Management LLC lessened its holdings in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 10.3% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 4,115 shares of the industrial products company’s stock after selling 470 shares during the quarter. Kanawha Capital Management LLC’s holdings in Applied Industrial Technologies were worth $957,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Rise Advisors LLC raised its stake in shares of 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 purchasing an additional 70 shares during the period. Maseco LLP acquired a new stake in shares of Applied Industrial Technologies in the 2nd quarter valued at about $35,000. Wayfinding Financial LLC acquired a new stake in shares of Applied Industrial Technologies in the 1st quarter valued at about $38,000. SVB Wealth LLC acquired a new stake in shares of Applied Industrial Technologies in the 1st quarter valued at about $48,000. Finally, First Horizon Advisors Inc. raised its stake in shares of Applied Industrial Technologies by 31.1% in the 1st quarter. First Horizon Advisors Inc. now owns 215 shares of the industrial products company’s stock valued at $48,000 after purchasing an additional 51 shares during the period. Institutional investors and hedge funds own 93.52% of the company’s stock.

Insider Transactions at Applied Industrial Technologies

In other news, 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 value of $1,941,757.28. Following the completion of the sale, the vice president directly owned 14,491 shares in the company, valued at approximately $3,768,819.28. The trade was a 34.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 transaction of $2,276,152.38. Following the completion of the sale, the vice president owned 19,273 shares of the company’s stock, 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 sold a total of 42,660 shares of company stock worth $11,217,980 over the last quarter. Company insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on AIT. Weiss Ratings reissued a “buy (b)” rating on shares of Applied Industrial Technologies in a research note on Wednesday, October 8th. Industrial Alliance Securities set a $290.00 price target on Applied Industrial Technologies in a research note on Friday, August 22nd. Oppenheimer lifted their target price on Applied Industrial Technologies from $290.00 to $300.00 and gave the company an “outperform” rating in a research report on Friday, August 15th. Bank of America lifted their target price 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. Finally, Wall Street Zen raised Applied Industrial Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, July 26th. Seven equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $285.00.

Applied Industrial Technologies Price Performance

NYSE:AIT opened at $247.91 on Friday. 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’s 50-day simple moving average is $260.83 and its 200 day simple moving average is $245.27. The company has a market cap of $9.36 billion, a P/E ratio of 24.50, a P/E/G ratio of 2.59 and a beta of 0.96. Applied Industrial Technologies, Inc. has a 52-week low of $199.96 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 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 during the quarter, compared to analysts’ expectations of $1.18 billion. During the same quarter last year, the company posted $2.64 earnings per share. Applied Industrial Technologies’s quarterly revenue 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. As a group, sell-side analysts forecast 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.