Royal London Asset Management Ltd. trimmed its position in Applied Industrial Technologies, Inc. (NYSE:AIT – Free Report) by 17.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 353,093 shares of the industrial products company’s stock after selling 74,733 shares during the quarter. Royal London Asset Management Ltd. owned about 0.95% of Applied Industrial Technologies worth $90,664,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AIT. Goldman Sachs Group Inc. grew its holdings in 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 valued at $85,897,000 after buying an additional 14,926 shares in the last quarter. Empowered Funds LLC purchased a new stake in Applied Industrial Technologies during the 1st quarter valued at approximately $318,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in 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 in the last quarter. Focus Partners Wealth grew its holdings in 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 in the last quarter. Finally, M&T Bank Corp purchased a new stake in Applied Industrial Technologies during the 2nd quarter valued at approximately $217,000. 93.52% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of equities research analysts have issued reports on AIT shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Applied Industrial Technologies in a report on Friday, April 24th. Wall Street Zen lowered shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. KeyCorp increased their price objective on shares of Applied Industrial Technologies from $300.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, February 26th. Robert W. Baird set a $317.00 price objective on shares of Applied Industrial Technologies in a report on Wednesday, April 29th. Finally, Oppenheimer increased their target price 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. Five analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $313.67.
Insider Transactions at Applied Industrial Technologies
In related news, VP Warren E. Hoffner III sold 8,000 shares of the firm’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $306.04, for a total value of $2,448,320.00. Following the completion of the sale, the vice president directly owned 40,751 shares in the company, valued at $12,471,436.04. This trade represents 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 through this hyperlink. 1.60% of the stock is currently owned by corporate insiders.
Applied Industrial Technologies Stock Up 0.2%
NYSE AIT opened at $319.51 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.97 and a current ratio of 2.95. The company has a market capitalization of $11.81 billion, a P/E ratio of 30.17, a P/E/G ratio of 3.04 and a beta of 0.84. Applied Industrial Technologies, Inc. has a one year low of $223.13 and a one year high of $326.41. The stock has a 50 day moving average price of $301.24 and a 200-day moving average price of $279.90.
Applied Industrial Technologies (NYSE:AIT – Get Free Report) last posted its earnings results on Tuesday, April 28th. The industrial products company reported $2.65 EPS for the quarter, beating analysts’ consensus estimates of $2.63 by $0.02. The firm had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.23 billion. Applied Industrial Technologies had a return on equity of 21.64% and a net margin of 8.34%.The company’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the prior year, the company earned $2.57 EPS. Applied Industrial Technologies has set its Q4 2026 guidance at 2.850-2.960 EPS and its FY 2026 guidance at 10.640-10.750 EPS. As a group, equities analysts predict that Applied Industrial Technologies, Inc. will post 10.7 EPS for the current fiscal year.
Applied Industrial Technologies Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were given a $0.51 dividend. The ex-dividend date was Friday, May 15th. This represents a $2.04 dividend on an annualized basis and a yield of 0.6%. Applied Industrial Technologies’s dividend payout ratio (DPR) is currently 19.26%.
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.
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