3,956 Shares in Applied Industrial Technologies, Inc. $AIT Bought by AXQ Capital LP

Key Points

• AXQ Capital LP opened a new position in Applied Industrial Technologies, buying 3,956 shares worth about $1.0 million in the fourth quarter.
• Institutional ownership remains very high, with hedge funds and other institutions holding 93.52% of the company’s stock. Several large firms also increased their stakes recently.
• Applied Industrial Technologies reported better-than-expected quarterly results, with EPS of $2.65 and revenue of $1.25 billion, while analysts currently rate the stock a Moderate Buy with an average price target of $313.67.

AXQ Capital LP acquired a new position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 3,956 shares of the industrial products company's stock, valued at approximately $1,016,000.

Several other hedge funds have also added to or reduced their stakes in AIT. First Trust Advisors LP raised its stake in shares of Applied Industrial Technologies by 22.7% in the 3rd 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 during the period. Wellington Management Group LLP increased its position in shares of Applied Industrial Technologies by 24.7% in 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 acquiring an additional 152,197 shares during the last quarter. Capital International Investors acquired a new position in Applied Industrial Technologies during the third quarter worth approximately $200,456,000. Dimensional Fund Advisors LP lifted its stake in shares of Applied Industrial Technologies by 1.5% during the 3rd 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 during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Applied Industrial Technologies by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 687,161 shares of the industrial products company's stock worth $176,479,000 after acquiring an additional 1,889 shares during the period. Institutional investors and hedge funds own 93.52% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Weiss Ratings restated a "buy (b)" rating on shares of Applied Industrial Technologies in a report on Friday, April 24th. Robert W. Baird set a $317.00 price target on Applied Industrial Technologies in a research note on Wednesday, April 29th. Oppenheimer boosted their price target on Applied Industrial Technologies from $300.00 to $350.00 and gave the company an "outperform" rating in a research note on Wednesday, April 29th. Wall Street Zen cut Applied Industrial Technologies from a "buy" rating to a "hold" rating in a research note on Saturday, May 2nd. Finally, KeyCorp boosted their price target on Applied Industrial Technologies from $300.00 to $330.00 and gave the company an "overweight" rating in a research note on Thursday, February 26th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $313.67.

Insiders Place Their Bets

In related news, VP Warren E. Hoffner III sold 8,000 shares of the 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 represents a 16.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.60% of the stock is owned by insiders.

Applied Industrial Technologies Stock Up 2.3%

Shares of NYSE:AIT opened at $307.81 on Wednesday. The company has a fifty day moving average of $291.61 and a 200-day moving average of $275.77. The company has a market capitalization of $11.38 billion, a PE ratio of 29.07, a price-to-earnings-growth ratio of 2.87 and a beta of 0.84. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.97 and a current ratio of 2.95. 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 announced its quarterly earnings results on Tuesday, April 28th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.63 by $0.02. The company had revenue of $1.25 billion during 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%. The company's revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period in the prior year, the business 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. On average, 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 disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Friday, May 15th. Applied Industrial Technologies's dividend payout ratio is presently 19.26%.

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.

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