Concurrent Investment Advisors LLC Has $349,000 Stock Position in Applied Industrial Technologies, Inc. $AIT

Concurrent Investment Advisors LLC grew its position in Applied Industrial Technologies, Inc. (NYSE:AIT) by 6.2% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,502 shares of the industrial products company’s stock after buying an additional 88 shares during the period. Concurrent Investment Advisors LLC’s holdings in Applied Industrial Technologies were worth $349,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in AIT. GAMMA Investing LLC grew its holdings in shares of Applied Industrial Technologies by 51.3% in the 1st quarter. GAMMA Investing LLC now owns 1,412 shares of the industrial products company’s stock valued at $318,000 after buying an additional 479 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings 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 buying an additional 226 shares during the period. Janney Montgomery Scott LLC grew its holdings 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 buying an additional 323 shares during the period. State of Alaska Department of Revenue boosted its stake in Applied Industrial Technologies by 2.4% in the 1st quarter. State of Alaska Department of Revenue now owns 4,490 shares of the industrial products company’s stock worth $1,011,000 after purchasing an additional 105 shares during the period. Finally, Advisor Resource Council acquired a new position in Applied Industrial Technologies in the 1st quarter worth $691,000. Institutional investors and hedge funds own 93.52% of the company’s stock.

Applied Industrial Technologies Trading Up 1.3%

Shares of NYSE:AIT opened at $247.91 on Monday. The company’s 50-day moving average price is $260.83 and its two-hundred day moving average price is $245.53. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.32 and a quick ratio of 2.36. Applied Industrial Technologies, Inc. has a one year low of $199.96 and a one year high of $282.98. The stock has a market capitalization of $9.36 billion, a PE ratio of 24.50, a price-to-earnings-growth ratio of 2.62 and a beta of 0.96.

Applied Industrial Technologies (NYSE:AIT) last issued its quarterly earnings results on Thursday, August 14th. The industrial products company reported $2.80 EPS for the quarter, topping the consensus estimate of $2.60 by $0.20. Applied Industrial Technologies had a net margin of 8.61% and a return on equity of 21.78%. The firm had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.18 billion. During the same period in the previous year, the firm posted $2.64 EPS. The company’s revenue for the quarter 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. On average, equities analysts forecast that Applied Industrial Technologies, Inc. will post 9.9 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on AIT shares. Robert W. Baird upped their target price 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 raised shares of Applied Industrial Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, July 26th. Bank of America upped their target price on shares of Applied Industrial Technologies from $275.00 to $290.00 and gave the stock a “buy” rating in a research note on Friday, August 22nd. Raymond James Financial lowered shares of Applied Industrial Technologies from an “outperform” rating to a “market perform” rating in a research note on Friday, August 15th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Applied Industrial Technologies in a research note on Wednesday, October 8th. Seven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $285.00.

Insider Activity

In other news, CEO Neil A. Schrimsher sold 26,671 shares of the company’s stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $262.46, for a total value of $7,000,070.66. Following the sale, the chief executive officer directly owned 149,735 shares of the company’s stock, valued at approximately $39,299,448.10. This represents a 15.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Jason W. Vasquez sold 7,466 shares of the company’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 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 disclosure for this sale can be found here. In the last ninety days, insiders have sold 42,660 shares of company stock valued at $11,217,980. 1.60% of the stock is owned by company insiders.

Applied Industrial Technologies Company 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.