FNY Investment Advisers LLC Takes $93,000 Position in Applied Industrial Technologies, Inc. $AIT

FNY Investment Advisers LLC acquired a new stake in Applied Industrial Technologies, Inc. (NYSE:AIT) in the second quarter, HoldingsChannel reports. The fund acquired 401 shares of the industrial products company’s stock, valued at approximately $93,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. grew its position in shares of 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 valued at $699,000 after acquiring an additional 210 shares during the period. Janney Montgomery Scott LLC grew its position in shares of 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 valued at $1,183,000 after acquiring an additional 323 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in shares of 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 valued at $338,000 after acquiring an additional 226 shares during the period. Sequoia Financial Advisors LLC grew its position 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 valued at $408,000 after acquiring an additional 374 shares during the period. Finally, Spire Wealth Management grew its position 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 valued at $582,000 after acquiring an additional 262 shares during the period. Institutional investors own 93.52% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on AIT shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Applied Industrial Technologies in a report on Wednesday, October 8th. Oppenheimer lifted their target price on shares of Applied Industrial Technologies from $290.00 to $300.00 and gave the stock an “outperform” rating in a report on Friday, August 15th. Wall Street Zen raised shares of Applied Industrial Technologies from a “hold” rating to a “buy” rating in a report on Saturday, July 26th. Bank of America lifted their target price on shares of Applied Industrial Technologies from $275.00 to $290.00 and gave the stock a “buy” rating in a report on Friday, August 22nd. Finally, Industrial Alliance Securities set a $290.00 target price on shares of Applied Industrial Technologies in a report on Friday, August 22nd. Six investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $285.00.

Applied Industrial Technologies Stock Performance

NYSE AIT opened at $259.83 on Friday. The company has a quick ratio of 2.36, a current ratio of 3.32 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $9.81 billion, a P/E ratio of 25.67, a P/E/G ratio of 2.68 and a beta of 0.96. Applied Industrial Technologies, Inc. has a 12-month low of $199.96 and a 12-month high of $282.98. The firm has a 50-day moving average price of $259.65 and a two-hundred day moving average price of $246.31.

Applied Industrial Technologies (NYSE:AIT) last posted its quarterly earnings data 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 during 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 revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.64 EPS. Applied Industrial Technologies has set its FY 2026 guidance at 10.000-10.75 EPS. Analysts anticipate that Applied Industrial Technologies, Inc. will post 9.9 earnings per share for the current year.

Insider Buying and Selling at Applied Industrial Technologies

In other Applied Industrial Technologies news, VP Kurt W. Loring sold 8,523 shares of the business’s stock in a transaction dated 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 completion of the sale, the vice president owned 19,273 shares of the company’s stock, valued at $5,147,047.38. The trade was a 30.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Neil A. Schrimsher sold 26,671 shares of the business’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 completion of the sale, the chief executive officer directly owned 149,735 shares of the company’s stock, valued at $39,299,448.10. This represents a 15.12% decrease in their position. The disclosure for this sale can be found here. Insiders sold 42,660 shares of company stock valued at $11,217,980 in the last quarter. Company insiders own 1.60% of the company’s stock.

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.