Allspring Global Investments Holdings LLC Purchases 28,546 Shares of Applied Industrial Technologies, Inc. $AIT

Allspring Global Investments Holdings LLC lifted its position in Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) by 12.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 259,786 shares of the industrial products company's stock after buying an additional 28,546 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.70% of Applied Industrial Technologies worth $69,976,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of AIT. Capital International Investors increased its position in shares of Applied Industrial Technologies by 25.4% during the fourth quarter. Capital International Investors now owns 962,925 shares of the industrial products company's stock worth $247,250,000 after purchasing an additional 195,043 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Applied Industrial Technologies by 0.9% during the 4th quarter. Wellington Management Group LLP now owns 776,394 shares of the industrial products company's stock valued at $199,355,000 after purchasing an additional 6,953 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Applied Industrial Technologies by 0.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 723,700 shares of the industrial products company's stock worth $185,833,000 after purchasing an additional 3,348 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Applied Industrial Technologies by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 687,161 shares of the industrial products company's stock worth $176,479,000 after purchasing an additional 1,889 shares in the last quarter. Finally, Corient Private Wealth LLC grew its stake in Applied Industrial Technologies by 22,451.0% during the 4th quarter. Corient Private Wealth LLC now owns 585,423 shares of the industrial products company's stock worth $150,319,000 after buying an additional 582,827 shares during the last quarter. Institutional investors own 93.52% of the company's stock.

Applied Industrial Technologies Stock Performance

AIT opened at $336.35 on Friday. The firm's fifty day simple moving average is $320.78 and its two-hundred day simple moving average is $292.32. Applied Industrial Technologies, Inc. has a 52-week low of $238.34 and a 52-week high of $345.48. The company has a market cap of $12.43 billion, a price-to-earnings ratio of 31.76, a PEG ratio of 2.87 and a beta of 0.83. 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 (NYSE:AIT - Get Free Report) last released its earnings results on Tuesday, April 28th. The industrial products company reported $2.65 EPS for the quarter, topping analysts' consensus estimates of $2.63 by $0.02. Applied Industrial Technologies had a net margin of 8.34% and a return on equity of 21.64%. The business had revenue of $1.25 billion during the quarter, compared to analysts' expectations of $1.23 billion. During the same quarter in the previous year, the company earned $2.57 earnings per share. The company's quarterly revenue was up 7.3% on a year-over-year basis. 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. Equities analysts anticipate that Applied Industrial Technologies, Inc. will post 10.71 earnings per share for the current fiscal year.

Applied Industrial Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Friday, August 14th will be paid a $0.51 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.6%. Applied Industrial Technologies's payout ratio is currently 19.26%.

Insider Activity at Applied Industrial Technologies

In other news, Director Madhuri A. Andrews sold 3,845 shares of the company's stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $329.89, for a total transaction of $1,268,427.05. Following the completion of the sale, the director owned 4,951 shares of the company's stock, valued at $1,633,285.39. This represents a 43.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Warren E. Hoffner III sold 8,000 shares of the stock in a transaction dated 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 completion of the sale, the vice president owned 40,751 shares of the company's stock, valued at $12,471,436.04. This trade represents a 16.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. DA Davidson began coverage on Applied Industrial Technologies in a research report on Tuesday, June 16th. They set a "buy" rating and a $380.00 target price on the stock. Robert W. Baird set a $317.00 price target 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 note on Friday, April 24th. Oppenheimer upped their price objective on shares of Applied Industrial Technologies from $300.00 to $350.00 and gave the company an "outperform" rating in a report on Wednesday, April 29th. Finally, Wall Street Zen lowered shares of Applied Industrial Technologies from a "buy" rating to a "hold" rating in a research report on Saturday, May 2nd. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $329.57.

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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