Fiduciary Management Inc. WI lowered its position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT – Free Report) by 7.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 216,149 shares of the industrial products company’s stock after selling 17,656 shares during the quarter. Fiduciary Management Inc. WI’s holdings in Applied Industrial Technologies were worth $55,501,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in the company. First Trust Advisors LP lifted its holdings in Applied Industrial Technologies by 22.7% during the third quarter. First Trust Advisors LP now owns 933,067 shares of the industrial products company’s stock valued at $243,577,000 after purchasing an additional 172,857 shares in the last quarter. Wellington Management Group LLP lifted its holdings in Applied Industrial Technologies by 24.7% during the third quarter. Wellington Management Group LLP now owns 769,441 shares of the industrial products company’s stock valued at $200,863,000 after purchasing an additional 152,197 shares in the last quarter. Capital International Investors purchased a new position in Applied Industrial Technologies during the third quarter valued at approximately $200,456,000. Dimensional Fund Advisors LP lifted its holdings in shares of Applied Industrial Technologies by 1.5% in the third quarter. Dimensional Fund Advisors LP now owns 720,352 shares of the industrial products company’s stock worth $188,040,000 after buying an additional 10,408 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Applied Industrial Technologies by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 687,161 shares of the industrial products company’s stock worth $176,479,000 after buying an additional 1,889 shares in the last quarter. Hedge funds and other institutional investors own 93.52% of the company’s stock.
Wall Street Analyst Weigh In
Several equities analysts have recently commented on AIT shares. KeyCorp boosted their target price on shares of Applied Industrial Technologies from $300.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday, February 26th. Weiss Ratings reissued a “buy (b)” rating on shares of Applied Industrial Technologies in a report on Friday, April 24th. Robert W. Baird set a $317.00 target price on shares of Applied Industrial Technologies in a report on Wednesday, April 29th. Oppenheimer boosted their target price on shares of Applied Industrial Technologies from $300.00 to $350.00 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. Finally, Wall Street Zen downgraded shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Applied Industrial Technologies has an average rating of “Moderate Buy” and an average target price of $313.67.
Applied Industrial Technologies Price Performance
Applied Industrial Technologies stock opened at $315.50 on Friday. The company has a market cap of $11.66 billion, a price-to-earnings ratio of 29.79, a PEG ratio of 3.00 and a beta of 0.84. The firm’s fifty day moving average is $295.69 and its 200 day moving average is $277.30. The company has a quick ratio of 1.97, a current ratio of 2.95 and a debt-to-equity ratio of 0.19. Applied Industrial Technologies, Inc. has a 52-week low of $223.13 and a 52-week high of $317.10.
Applied Industrial Technologies (NYSE:AIT – Get Free Report) last released its quarterly earnings results on Tuesday, April 28th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.63 by $0.02. The company had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.23 billion. Applied Industrial Technologies had a net margin of 8.34% and a return on equity of 21.64%. Applied Industrial Technologies’s revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.57 earnings per share. 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. Sell-side analysts forecast that Applied Industrial Technologies, Inc. will post 10.7 EPS for the current fiscal year.
Applied Industrial Technologies Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were paid a dividend of $0.51 per share. The ex-dividend date of this dividend 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 is presently 19.26%.
Insider Transactions at Applied Industrial Technologies
In related news, VP Warren E. Hoffner III sold 8,000 shares of the company’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $306.04, for a total transaction of $2,448,320.00. Following the sale, the vice president owned 40,751 shares of the company’s stock, valued at $12,471,436.04. This represents a 16.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.60% of the stock is currently owned by insiders.
About Applied Industrial Technologies
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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