Applied Industrial Technologies, Inc. $AIT Shares Bought by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC increased its stake in Applied Industrial Technologies by 85.4% in the fourth quarter, buying 15,572 additional shares and bringing its total to 33,807 shares worth about $8.7 million.
• Applied Industrial Technologies 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. The company also raised guidance for fiscal 2026.
• The stock pays a quarterly dividend of $0.51 per share, and analysts remain mostly positive with a consensus rating of Moderate Buy and an average price target of $323.14.

Hsbc Holdings PLC raised its position in Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) by 85.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 33,807 shares of the industrial products company's stock after purchasing an additional 15,572 shares during the period. Hsbc Holdings PLC owned 0.09% of Applied Industrial Technologies worth $8,733,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Distillate Capital Partners LLC acquired a new stake in Applied Industrial Technologies in the third quarter valued at $13,281,000. Barclays PLC lifted its holdings in Applied Industrial Technologies by 91.4% during the 3rd quarter. Barclays PLC now owns 100,244 shares of the industrial products company's stock worth $26,169,000 after buying an additional 47,868 shares during the last quarter. Tudor Investment Corp ET AL boosted its position in shares of Applied Industrial Technologies by 39.8% during the 3rd quarter. Tudor Investment Corp ET AL now owns 124,185 shares of the industrial products company's stock worth $32,418,000 after acquiring an additional 35,374 shares in the last quarter. Pinnbrook Capital Management LP acquired a new position in shares of Applied Industrial Technologies during the 3rd quarter worth about $4,941,000. Finally, Thrivent Financial for Lutherans increased its holdings in shares of Applied Industrial Technologies by 1,628.7% in the 4th quarter. Thrivent Financial for Lutherans now owns 196,946 shares of the industrial products company's stock valued at $50,570,000 after acquiring an additional 185,553 shares during the last quarter. 93.52% of the stock is currently owned by institutional investors and hedge funds.

Applied Industrial Technologies Stock Performance

Shares of AIT stock opened at $316.52 on Thursday. The stock's 50-day moving average is $317.54 and its two-hundred day moving average is $289.27. 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 1 year low of $238.34 and a 1 year high of $345.48. The firm has a market cap of $11.70 billion, a price-to-earnings ratio of 29.89, a PEG ratio of 2.73 and a beta of 0.83.

Applied Industrial Technologies (NYSE:AIT - Get Free Report) last posted its earnings results on Tuesday, April 28th. The industrial products company reported $2.65 earnings per share for the quarter, beating the consensus estimate of $2.63 by $0.02. The business had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.23 billion. Applied Industrial Technologies had a return on equity of 21.64% and a net margin of 8.34%.The business's quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the business earned $2.57 EPS. 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. Analysts predict that Applied Industrial Technologies, Inc. will post 10.71 earnings per share for the current year.

Applied Industrial Technologies Announces Dividend

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 paid a $0.51 dividend. The ex-dividend date is Friday, August 14th. This represents a $2.04 dividend on an annualized basis and a yield of 0.6%. Applied Industrial Technologies's payout ratio is currently 19.26%.

Analyst Ratings Changes

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

Insider Buying and Selling

In other news, VP Warren E. Hoffner III sold 8,000 shares of the stock in a transaction that occurred 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 of the company's stock, valued at approximately $12,471,436.04. This represents a 16.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Madhuri A. Andrews sold 3,845 shares of the firm's stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $329.89, for a total transaction of $1,268,427.05. Following the transaction, the director owned 4,951 shares in the company, valued at approximately $1,633,285.39. This trade represents a 43.71% 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.

About Applied Industrial Technologies

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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