Applied Industrial Technologies, Inc. $AIT Shares Acquired by Moran Wealth Management LLC

Key Points

• Moran Wealth Management increased its stake in Applied Industrial Technologies by 86.5% in the first quarter, ending with 26,333 shares valued at about $6.99 million.
• The company reported better-than-expected quarterly results, with EPS of $2.65 versus $2.63 expected and revenue of $1.25 billion versus $1.23 billion expected, while revenue rose 7.3% year over year.
• Applied Industrial Technologies also announced a quarterly dividend of $0.51 per share, payable August 31, which works out to a 0.6% annual yield.

Moran Wealth Management LLC boosted its position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) by 86.5% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,333 shares of the industrial products company's stock after buying an additional 12,211 shares during the quarter. Moran Wealth Management LLC owned 0.07% of Applied Industrial Technologies worth $6,987,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of AIT. Compound Planning Inc. lifted its holdings in Applied Industrial Technologies by 4.7% in the 4th quarter. Compound Planning Inc. now owns 822 shares of the industrial products company's stock valued at $211,000 after acquiring an additional 37 shares during the last quarter. US Asset Management LLC raised its holdings in shares of Applied Industrial Technologies by 3.3% in the 4th quarter. US Asset Management LLC now owns 1,266 shares of the industrial products company's stock worth $325,000 after purchasing an additional 41 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Applied Industrial Technologies by 7.4% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 653 shares of the industrial products company's stock worth $170,000 after purchasing an additional 45 shares in the last quarter. Quadrant Capital Group LLC lifted its stake in Applied Industrial Technologies by 1.1% during the third quarter. Quadrant Capital Group LLC now owns 4,631 shares of the industrial products company's stock valued at $1,209,000 after purchasing an additional 51 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in Applied Industrial Technologies by 3.6% during the fourth quarter. GAMMA Investing LLC now owns 1,585 shares of the industrial products company's stock valued at $407,000 after purchasing an additional 55 shares during the last quarter. 93.52% of the stock is owned by institutional investors and hedge funds.

Applied Industrial Technologies Stock Performance

Shares of AIT opened at $330.88 on Friday. The company has a 50-day moving average of $316.08 and a two-hundred day moving average of $287.77. The stock has a market cap of $12.23 billion, a price-to-earnings ratio of 31.24, a PEG ratio of 2.86 and a beta of 0.83. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.95 and a quick ratio of 1.97. Applied Industrial Technologies, Inc. has a one year low of $238.34 and a one year high of $345.48.

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 business had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.23 billion. Applied Industrial Technologies had a net margin of 8.34% and a return on equity of 21.64%. The firm's revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous 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 research analysts expect that Applied Industrial Technologies, Inc. will post 10.71 earnings per share for the current year.

Applied Industrial Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Friday, August 14th will be given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 0.6%. The ex-dividend date is Friday, August 14th. Applied Industrial Technologies's payout ratio is presently 19.26%.

Insider Buying and Selling at Applied Industrial Technologies

In other 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 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 Securities & Exchange Commission, which is available at this link. Also, Director Madhuri A. Andrews sold 3,845 shares of the firm's stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $329.89, for a total value of $1,268,427.05. Following the completion of the sale, the director directly owned 4,951 shares of the company's stock, valued at approximately $1,633,285.39. This trade represents a 43.71% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on AIT. Oppenheimer lifted their price target on shares of Applied Industrial Technologies from $300.00 to $350.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 29th. Weiss Ratings reiterated a "buy (b)" rating on shares of Applied Industrial Technologies in a research report on Friday, April 24th. Wall Street Zen lowered Applied Industrial Technologies from a "buy" rating to a "hold" rating in a research note on Saturday, May 2nd. DA Davidson began coverage on Applied Industrial Technologies in a report on Tuesday, June 16th. They issued a "buy" rating and a $380.00 target price on the stock. Finally, Robert W. Baird set a $317.00 target price on Applied Industrial Technologies in a research report on Wednesday, April 29th. Six investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $323.14.

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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