Applied Industrial Technologies (AIT)

• Market cap: $9.9B
• 1 day: 0.72%
• 5 days: 5.95%
• 1 month: 1.22%
• 3 months: 9.46%
• 6 months: 23.31%
• Year to date: 7.87%
• 1 year: 53.82%
• 5 years: 281.43%
• 10 years: 542.67%
• Sector: Industrials
• Industry: Machinery, Equipment & Supplies

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: 6,549

Fund manager confidence

Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)

45% more first-time investments, than exits

New positions opened: 68 | Existing positions closed: 47

12% more capital invested

Capital invested by funds: $7.29B [Q2] → $8.17B (+$882M) [Q3]

5% more funds holding

Funds holding: 424 [Q2] → 444 (+20) [Q3]

1.73% less ownership

Funds ownership: 97.23% [Q2] → 95.5% (-1.73%) [Q3]

15% less repeat investments, than reductions

Existing positions increased: 144 | Existing positions reduced: 170

20% less funds holding in top 10

Funds holding in top 10: 5 [Q2] → 4 (-1) [Q3]

22% less call options, than puts

Call options by funds: $17.9M | Put options by funds: $22.8M

Research analyst outlook

7 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $250 3% downside
• Avg. target: $289 12% upside
• High target: $325 26% upside

7 analyst ratings

• positive: 7 100%
• neutral: 0 0%
• negative: 0 0%

Keybanc Ken Newman 53% 1-year accuracy 9 / 17 met price target	26% upside $325	Overweight Maintained	3 Dec 2024
B of A Securities Sabrina Abrams 33% 1-year accuracy 1 / 3 met price target	22% upside $315	Buy Upgraded	26 Nov 2024
Oppenheimer Christopher Glynn 63% 1-year accuracy 17 / 27 met price target	19% upside $305	Outperform Maintained	14 Nov 2024
Loop Capital Chris Dankert 57% 1-year accuracy 8 / 14 met price target	5% upside $270	Buy Maintained	28 Oct 2024
Raymond James Sam Darkatsh 100% 1-year accuracy 5 / 5 met price target	3% downside $250	Outperform Maintained	25 Oct 2024