Applied Industrial Technologies, Inc. $AIT Shares Acquired by Ameriprise Financial Inc.

Key Points

• Ameriprise Financial Inc. has increased its stake in Applied Industrial Technologies, acquiring 62,710 additional shares in the first quarter, bringing its total ownership to approximately 162,990 shares, valued at about $36.7 million.
• Applied Industrial Technologies reported a quarterly earnings per share (EPS) of $2.80, surpassing the consensus estimate by $0.20, with total revenue of $1.22 billion during the same period.
• The company has declared a quarterly dividend of $0.46 per share, translating to an annual yield of 0.7%, with a payout ratio currently at 18.18%.

Ameriprise Financial Inc. increased its position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) by 62.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 162,990 shares of the industrial products company's stock after acquiring an additional 62,710 shares during the period. Ameriprise Financial Inc. owned about 0.43% of Applied Industrial Technologies worth $36,728,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. MassMutual Private Wealth & Trust FSB lifted its stake in Applied Industrial Technologies by 51.2% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 130 shares of the industrial products company's stock worth $29,000 after acquiring an additional 44 shares in the last quarter. Harbor Investment Advisory LLC raised its position in Applied Industrial Technologies by 97.5% in the 1st quarter. Harbor Investment Advisory LLC now owns 160 shares of the industrial products company's stock valued at $36,000 after purchasing an additional 79 shares in the last quarter. Wayfinding Financial LLC acquired a new stake in Applied Industrial Technologies in the 1st quarter valued at about $38,000. Opal Wealth Advisors LLC acquired a new stake in Applied Industrial Technologies in the 1st quarter valued at about $41,000. Finally, Quarry LP acquired a new stake in Applied Industrial Technologies in the 4th quarter valued at about $51,000. Institutional investors and hedge funds own 93.52% of the company's stock.

Applied Industrial Technologies Stock Down 1.1%

Shares of NYSE AIT traded down $2.84 during midday trading on Wednesday, hitting $260.31. 57,545 shares of the company's stock were exchanged, compared to its average volume of 398,559. 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, Inc. has a twelve month low of $191.31 and a twelve month high of $282.98. The company has a market cap of $9.83 billion, a PE ratio of 25.73, a P/E/G ratio of 2.78 and a beta of 1.00. The firm's fifty day simple moving average is $259.34 and its 200-day simple moving average is $240.38.

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

Applied Industrial Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were paid a $0.46 dividend. 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 dividend payout ratio (DPR) is 18.18%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on AIT shares. Industrial Alliance Securities set a $290.00 price target on Applied Industrial Technologies in a research report on Friday, August 22nd. Robert W. Baird increased their price target on Applied Industrial Technologies from $265.00 to $300.00 and gave the company an "outperform" rating in a research report on Friday, August 15th. Wall Street Zen raised Applied Industrial Technologies from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Oppenheimer increased their price target on Applied Industrial Technologies from $290.00 to $300.00 and gave the company an "outperform" rating in a research report on Friday, August 15th. Finally, Bank of America increased their price target on Applied Industrial Technologies from $275.00 to $290.00 and gave the company a "buy" rating in a research report on Friday, August 22nd. Six analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $285.00.

Insider Buying and Selling at Applied Industrial Technologies

In other Applied Industrial Technologies news, VP Jason W. Vasquez sold 7,466 shares of Applied Industrial Technologies stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $260.08, for a total value of $1,941,757.28. Following the transaction, the vice president directly owned 14,491 shares in the company, valued at approximately $3,768,819.28. This trade represents a 34.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Neil A. Schrimsher sold 26,671 shares of the firm's stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $262.46, for a total value of $7,000,070.66. Following the completion of the sale, the chief executive officer directly owned 149,735 shares of the company's stock, valued at $39,299,448.10. This represents a 15.12% 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. 1.67% of the stock is currently owned by insiders.

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.