Applied Industrial Technologies, Inc. $AIT Shares Purchased by Alyeska Investment Group L.P.

Key Points

• Alyeska Investment Group L.P. increased its stake in Applied Industrial Technologies, acquiring 131,465 shares and expanding its holdings by 27.9% to a total of 602,798 shares, valued at approximately $135.8 million.
• Applied Industrial Technologies reported a quarterly EPS of $2.80, surpassing analysts’ estimates, alongside a revenue increase of 5.5% year-over-year, amounting to $1.22 billion.
• The company recently declared a quarterly dividend of $0.46 per share, representing an annual yield of 0.7%, with insiders selling over 42,000 shares in the recent quarter.

Alyeska Investment Group L.P. grew its stake in shares of Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) by 27.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 602,798 shares of the industrial products company's stock after purchasing an additional 131,465 shares during the quarter. Alyeska Investment Group L.P. owned approximately 1.58% of Applied Industrial Technologies worth $135,835,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AIT. Bank of America Corp DE increased its holdings in shares of Applied Industrial Technologies by 8.1% in the 4th quarter. Bank of America Corp DE now owns 257,568 shares of the industrial products company's stock valued at $61,680,000 after acquiring an additional 19,304 shares during the period. Baird Financial Group Inc. increased its holdings in shares of Applied Industrial Technologies by 2.5% in the 4th quarter. Baird Financial Group Inc. now owns 1,588 shares of the industrial products company's stock valued at $380,000 after acquiring an additional 39 shares during the period. Centiva Capital LP acquired a new position in shares of Applied Industrial Technologies in the 4th quarter valued at $732,000. Driehaus Capital Management LLC increased its holdings in shares of Applied Industrial Technologies by 5.7% in the 4th quarter. Driehaus Capital Management LLC now owns 105,528 shares of the industrial products company's stock valued at $25,271,000 after acquiring an additional 5,726 shares during the period. Finally, FORA Capital LLC increased its holdings in shares of Applied Industrial Technologies by 600.8% in the 4th quarter. FORA Capital LLC now owns 9,454 shares of the industrial products company's stock valued at $2,264,000 after acquiring an additional 8,105 shares during the period. Institutional investors and hedge funds own 93.52% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Oppenheimer lifted their target price on shares of Applied Industrial Technologies from $290.00 to $300.00 and gave the company an "outperform" rating in a report on Friday, August 15th. Raymond James Financial cut shares of Applied Industrial Technologies from an "outperform" rating to a "market perform" rating in a report on Friday, August 15th. Wall Street Zen raised shares of Applied Industrial Technologies from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Robert W. Baird boosted their price objective on shares of Applied Industrial Technologies from $265.00 to $300.00 and gave the company an "outperform" rating in a research note on Friday, August 15th. Finally, Bank of America boosted their price objective on shares of Applied Industrial Technologies from $275.00 to $290.00 and gave the company a "buy" rating in a research note on Friday, August 22nd. Six 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, Applied Industrial Technologies has a consensus rating of "Moderate Buy" and an average target price of $285.00.

Insiders Place Their Bets

In other Applied Industrial Technologies news, VP Jason W. Vasquez sold 7,466 shares of the business's stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $260.08, for a total transaction of $1,941,757.28. Following the sale, the vice president directly owned 14,491 shares in the company, valued at approximately $3,768,819.28. The trade was a 34.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Kurt W. Loring sold 8,523 shares of the stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $267.06, for a total transaction of $2,276,152.38. Following the completion of the sale, the vice president directly owned 19,273 shares in the company, valued at approximately $5,147,047.38. The trade was a 30.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 42,660 shares of company stock worth $11,217,980. Corporate insiders own 1.67% of the company's stock.

Applied Industrial Technologies Price Performance

Shares of NYSE AIT traded down $2.82 during trading on Friday, hitting $265.14. 219,243 shares of the company were exchanged, compared to its average volume of 255,805. The company has a market cap of $10.01 billion, a price-to-earnings ratio of 26.20, a PEG ratio of 2.83 and a beta of 1.00. Applied Industrial Technologies, Inc. has a 1 year low of $191.31 and a 1 year high of $282.98. The firm's fifty day moving average price is $261.42 and its 200 day moving average price is $240.51. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.32 and a quick ratio of 2.36.

Applied Industrial Technologies (NYSE:AIT - Get Free Report) last issued its earnings results on Thursday, August 14th. The industrial products company reported $2.80 EPS for the quarter, topping the consensus estimate of $2.60 by $0.20. The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.18 billion. Applied Industrial Technologies had a net margin of 8.61% and a return on equity of 21.78%. The business's revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the firm earned $2.64 EPS. Applied Industrial Technologies has set its FY 2026 guidance at 10.000-10.75 EPS. On average, sell-side analysts expect that Applied Industrial Technologies, Inc. will post 9.9 earnings per share for the current fiscal year.

Applied Industrial Technologies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Friday, August 15th. Applied Industrial Technologies's payout ratio is presently 18.18%.

Applied Industrial Technologies Profile

Applied Industrial Technologies, Inc distributes industrial motion, power, control, and automation technology solutions in North America, Australia, New Zealand, and Singapore. It operates in two segments, Service Center Based Distribution, and Engineered Solutions. The company distributes bearings, power transmission products, engineered fluid power components and systems, specialty flow control solutions, advanced automation products, industrial rubber products, linear motion components, automation solutions, tools, safety products, oilfield supplies, and other industrial and maintenance supplies; and motors, belting, drives, couplings, pumps, hydraulic and pneumatic components, filtration supplies, valves, fittings, process instrumentation, actuators, and hoses, filtration supplies, as well as other related supplies for general operational needs of customers' machinery and equipment.