Teacher Retirement System of Texas Sells 2,546 Shares of Applied Industrial Technologies, Inc. $AIT

Teacher Retirement System of Texas trimmed its position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 8.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,476 shares of the industrial products company’s stock after selling 2,546 shares during the quarter. Teacher Retirement System of Texas owned 0.08% of Applied Industrial Technologies worth $7,434,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in AIT. Norges Bank bought a new position in shares of Applied Industrial Technologies during the second quarter valued at about $107,228,000. Qube Research & Technologies Ltd purchased a new stake in Applied Industrial Technologies in the 2nd quarter valued at about $81,722,000. Dundas Partners LLP boosted its stake in shares of Applied Industrial Technologies by 12,956.0% in the 2nd quarter. Dundas Partners LLP now owns 266,212 shares of the industrial products company’s stock worth $61,881,000 after buying an additional 264,173 shares during the last quarter. Squarepoint Ops LLC boosted its stake in shares of Applied Industrial Technologies by 11,885.4% in the 2nd quarter. Squarepoint Ops LLC now owns 258,286 shares of the industrial products company’s stock worth $60,039,000 after buying an additional 256,131 shares during the last quarter. Finally, Royal London Asset Management Ltd. grew its holdings in shares of Applied Industrial Technologies by 69.2% in the second quarter. Royal London Asset Management Ltd. now owns 393,743 shares of the industrial products company’s stock valued at $91,526,000 after acquiring an additional 161,048 shares in the last quarter. Hedge funds and other institutional investors own 93.52% of the company’s stock.

Wall Street Analyst Weigh In

AIT has been the topic of a number of recent analyst reports. Mizuho set a $305.00 price target on Applied Industrial Technologies in a report on Wednesday, October 29th. Weiss Ratings reiterated a “buy (b)” rating on shares of Applied Industrial Technologies in a research note on Monday, December 29th. 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 data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $287.50.

Applied Industrial Technologies Price Performance

Applied Industrial Technologies stock opened at $280.08 on Monday. The business’s 50 day simple moving average is $262.61 and its 200 day simple moving average is $261.38. Applied Industrial Technologies, Inc. has a 12 month low of $199.96 and a 12 month high of $286.66. The company has a market cap of $10.56 billion, a price-to-earnings ratio of 26.96, a PEG ratio of 2.86 and a beta of 0.87. The company has a current ratio of 3.55, a quick ratio of 2.50 and a debt-to-equity ratio of 0.30.

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

Applied Industrial Technologies Profile

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.