Applied Industrial TechnologiesAIT
Market Cap: $7.43B
About: Applied Industrial Technologies Inc is a distributor of industrial products to the maintenance, repair, and operations market and the original equipment manufacturing industry. Further, the company provides engineering and design services for industrial and fluid power applications. The products include bearings, power transmission components, fluid power components and systems, industrial rubber products, linear motion components, safety products, oilfield supplies, and other industrial and maintenance supplies. The company's reportable segments are; Service Center Based Distribution which derives key revenue, and Engineered Solutions. Geographically, the company derives its key revenue from the United States and the rest from Canada and other countries.
Employees: 6,500
Fund manager confidence
Based on 2024 Q2 SEC filings by fund managers ($100M+ AUM)
14% more call options, than puts
Call options by funds: $11.3M | Put options by funds: $9.84M
10% more first-time investments, than exits
New positions opened: 55 | Existing positions closed: 50
1% more funds holding
Funds holding: 416 [Q1] → 421 (+5) [Q2]
0.05% less ownership
Funds ownership: 93.0% [Q1] → 92.95% (-0.05%) [Q2]
2% less capital invested
Capital invested by funds: $7.1B [Q1] → $6.97B (-$132M) [Q2]
14% less repeat investments, than reductions
Existing positions increased: 137 | Existing positions reduced: 159
17% less funds holding in top 10
Funds holding in top 10: 6 [Q1] → 5 (-1) [Q2]
Research analyst outlook
4 Wall Street Analysts provided 1 year price targets over the past 3 months
4 analyst ratings
Raymond James Sam Darkatsh 89% 1-year accuracy 8 / 9 met price target | 16%upside $225 | Outperform Initiated | 4 Sept 2024 |
Baird David Manthey 48% 1-year accuracy 10 / 21 met price target | 8%upside $210 | Outperform Maintained | 29 Aug 2024 |
Keybanc Ken Newman 47% 1-year accuracy 7 / 15 met price target | 11%upside $215 | Overweight Maintained | 16 Aug 2024 |
Loop Capital Chris Dankert 56% 1-year accuracy 5 / 9 met price target | 19%upside $230 | Buy Maintained | 16 Aug 2024 |
Financial journalist opinion
Based on 10 articles about AIT published over the past 30 days