Mutual of America Capital Management LLC boosted its holdings in shares of Applied Industrial Technologies, Inc. (NYSE:AIT – Free Report) by 38.1% during the fourth quarter, Holdings Channel reports. The firm owned 96,438 shares of the industrial products company’s stock after acquiring an additional 26,612 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Applied Industrial Technologies were worth $24,762,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of AIT. Goldman Sachs Group Inc. grew its holdings in shares of Applied Industrial Technologies by 4.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 381,187 shares of the industrial products company’s stock worth $85,897,000 after acquiring an additional 14,926 shares during the period. Empowered Funds LLC bought a new position in Applied Industrial Technologies in the 1st quarter valued at approximately $318,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Applied Industrial Technologies by 12.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 98,348 shares of the industrial products company’s stock valued at $22,162,000 after buying an additional 10,863 shares during the period. Focus Partners Wealth lifted its holdings in shares of Applied Industrial Technologies by 4.5% during the 1st quarter. Focus Partners Wealth now owns 1,341 shares of the industrial products company’s stock valued at $302,000 after buying an additional 58 shares during the period. Finally, M&T Bank Corp bought a new position in shares of Applied Industrial Technologies during the 2nd quarter valued at $217,000. Hedge funds and other institutional investors own 93.52% of the company’s stock.
Applied Industrial Technologies Stock Down 0.9%
Shares of NYSE:AIT opened at $301.07 on Tuesday. Applied Industrial Technologies, Inc. has a 1 year low of $221.52 and a 1 year high of $317.10. The business has a 50 day simple moving average of $291.61 and a two-hundred day simple moving average of $275.77. The firm has a market capitalization of $11.13 billion, a PE ratio of 28.43, a price-to-earnings-growth ratio of 2.89 and a beta of 0.84. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.95 and a quick ratio of 1.97.
Applied Industrial Technologies Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Friday, May 15th. Applied Industrial Technologies’s payout ratio is 19.26%.
Insider Activity
In other Applied Industrial Technologies news, VP Warren E. Hoffner III sold 8,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $306.04, for a total transaction of $2,448,320.00. Following the completion of the transaction, the vice president owned 40,751 shares in the company, valued at $12,471,436.04. The trade was a 16.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.60% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
A number of equities analysts recently commented on AIT shares. Robert W. Baird set a $317.00 target price on Applied Industrial Technologies in a report on Wednesday, April 29th. Weiss Ratings restated a “buy (b)” rating on shares of Applied Industrial Technologies in a research report on Friday, April 24th. Oppenheimer raised their price objective on Applied Industrial Technologies from $300.00 to $350.00 and gave the company an “outperform” rating in a research report on Wednesday, April 29th. Wall Street Zen lowered Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Finally, KeyCorp raised their price objective on Applied Industrial Technologies from $300.00 to $330.00 and gave the company an “overweight” rating in a research report on Thursday, February 26th. Five investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $313.67.
Get Our Latest Analysis on AIT
Applied Industrial Technologies Company 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.
Featured Stories
- Five stocks we like better than Applied Industrial Technologies
- Why 1 Little-Known ETF Is Riding the AI Chip Shortage
- Why These Three Big Buybacks Are Sending Very Different Signals to Investors
- Drone Stocks Soar As Pentagon Considers Funding, Including a Trump-Linked Name
- Braze Blazes Ahead on Q1 2027 Earnings Beat, Raised Guidance
Want to see what other hedge funds are holding AIT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Applied Industrial Technologies, Inc. (NYSE:AIT – Free Report).
Receive News & Ratings for Applied Industrial Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Applied Industrial Technologies and related companies with MarketBeat.com's FREE daily email newsletter.
