Applied Industrial Technologies, Inc. $AIT Shares Sold by Brown Advisory Inc.

Key Points

• Brown Advisory Inc. cut its Applied Industrial Technologies stake by 9.8% in the fourth quarter, selling 30,824 shares and leaving it with 283,881 shares worth about $72.9 million.
• Insider selling also showed up, with VP Warren E. Hoffner III selling 8,000 shares on May 5 for about $2.45 million, reducing his ownership by 16.41%.
• The company posted better-than-expected quarterly results, beating EPS and revenue estimates, while analysts remain mostly positive with a Moderate Buy consensus and an average price target of $313.67.

Brown Advisory Inc. lowered its holdings in Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) by 9.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 283,881 shares of the industrial products company's stock after selling 30,824 shares during the period. Brown Advisory Inc. owned approximately 0.76% of Applied Industrial Technologies worth $72,892,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in AIT. Torren Management LLC purchased a new position in shares of Applied Industrial Technologies in the fourth quarter valued at $25,000. Smartleaf Asset Management LLC boosted its stake in Applied Industrial Technologies by 890.0% during the 3rd quarter. Smartleaf Asset Management LLC now owns 99 shares of the industrial products company's stock valued at $26,000 after acquiring an additional 89 shares during the last quarter. Abich Financial Wealth Management LLC bought a new position in Applied Industrial Technologies during the 3rd quarter valued at $29,000. V Square Quantitative Management LLC bought a new position in Applied Industrial Technologies during the 4th quarter valued at $34,000. Finally, Allworth Financial LP boosted its stake in Applied Industrial Technologies by 446.4% during the 3rd quarter. Allworth Financial LP now owns 153 shares of the industrial products company's stock valued at $40,000 after acquiring an additional 125 shares during the last quarter. 93.52% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Applied Industrial Technologies

In other news, VP Warren E. Hoffner III sold 8,000 shares of Applied Industrial Technologies stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $306.04, for a total value of $2,448,320.00. Following the transaction, the vice president owned 40,751 shares of the company's stock, valued at $12,471,436.04. This trade represents a 16.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Oppenheimer increased their target price 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. KeyCorp increased their target price on shares of Applied Industrial Technologies from $300.00 to $330.00 and gave the stock an "overweight" rating in a report on Thursday, February 26th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Applied Industrial Technologies in a report on Friday, April 24th. Robert W. Baird set a $317.00 target price on shares of Applied Industrial Technologies in a research note on Wednesday, April 29th. Finally, Wall Street Zen cut shares of Applied Industrial Technologies from a "buy" rating to a "hold" rating in a research note on Saturday, May 2nd. Five investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $313.67.

Applied Industrial Technologies Stock Performance

Shares of AIT opened at $319.51 on Monday. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.95 and a quick ratio of 1.97. The stock has a market cap of $11.81 billion, a price-to-earnings ratio of 30.17, a PEG ratio of 3.05 and a beta of 0.84. The company has a 50-day moving average of $301.24 and a two-hundred day moving average of $280.12. Applied Industrial Technologies, Inc. has a one year low of $223.13 and a one year high of $326.41.

Applied Industrial Technologies (NYSE:AIT - Get Free Report) last posted its quarterly earnings results on Tuesday, April 28th. The industrial products company reported $2.65 EPS for the quarter, topping the consensus estimate of $2.63 by $0.02. The business had revenue of $1.25 billion during the quarter, compared to analysts' expectations 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 quarterly revenue was up 7.3% compared to the same quarter last year. During the same period last year, the company posted $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 10.7 earnings per share for the current year.

Applied Industrial Technologies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 15th were given a $0.51 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.6%. Applied Industrial Technologies's dividend payout ratio (DPR) is currently 19.26%.

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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