Applied Industrial Technologies, Inc. $AIT Shares Purchased by Strs Ohio

Key Points

• Strs Ohio increased its stake in Applied Industrial Technologies by 16.2% in the first quarter, buying 4,689 more shares and bringing its total holding to 33,686 shares valued at about $8.94 million.
• Several other institutional investors also boosted or established positions, and overall institutional ownership is very high at 93.52% of the company’s stock.
• Applied Industrial Technologies posted solid quarterly results, with EPS of $2.65 topping estimates and revenue of $1.25 billion beating forecasts; the company also maintained a Moderate Buy analyst consensus and a recent quarterly dividend of $0.51 per share.

Strs Ohio raised its holdings in Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) by 16.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,686 shares of the industrial products company's stock after buying an additional 4,689 shares during the quarter. Strs Ohio owned approximately 0.09% of Applied Industrial Technologies worth $8,938,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Distillate Capital Partners LLC purchased a new position in shares of Applied Industrial Technologies in the 3rd quarter worth about $13,281,000. First Trust Advisors LP grew its holdings in shares of Applied Industrial Technologies by 22.7% during the 3rd quarter. First Trust Advisors LP now owns 933,067 shares of the industrial products company's stock worth $243,577,000 after purchasing an additional 172,857 shares during the period. Barclays PLC increased its position 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 purchasing an additional 47,868 shares in the last quarter. Tudor Investment Corp ET AL increased its position in 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 purchasing an additional 35,374 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Applied Industrial Technologies by 1.5% in the third quarter. Dimensional Fund Advisors LP now owns 720,352 shares of the industrial products company's stock valued at $188,040,000 after buying an additional 10,408 shares during the period. Institutional investors and hedge funds own 93.52% of the company's stock.

Analyst Ratings Changes

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

Applied Industrial Technologies Trading Up 0.0%

AIT opened at $330.88 on Monday. The firm has a market capitalization of $12.23 billion, a P/E ratio of 31.24, a P/E/G ratio of 2.86 and a beta of 0.83. The firm's 50 day moving average is $316.08 and its 200-day moving average is $287.96. Applied Industrial Technologies, Inc. has a 52-week low of $238.34 and a 52-week high of $345.48. 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 announced 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 net margin of 8.34% and a return on equity of 21.64%. The business's quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the prior year, the firm 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. Analysts expect that Applied Industrial Technologies, Inc. will post 10.71 EPS for the current fiscal 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 given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Friday, August 14th. Applied Industrial Technologies's dividend payout ratio is presently 19.26%.

Insider Activity

In other news, VP Warren E. Hoffner III sold 8,000 shares of the firm's stock in a transaction dated Tuesday, May 5th. The stock was 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 directly owned 40,751 shares in the company, valued at $12,471,436.04. This trade represents a 16.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Madhuri A. Andrews sold 3,845 shares of Applied Industrial Technologies stock in a transaction that occurred 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 sale, the director owned 4,951 shares in the company, valued at $1,633,285.39. This represents a 43.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.60% of the stock is owned by company insiders.

Applied Industrial Technologies 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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