Applied Industrial Technologies, Inc. $AIT Shares Sold by Fiduciary Management Inc. WI

Key Points

• Fiduciary Management Inc. WI reduced its holdings in Applied Industrial Technologies by 2.8%, now owning approximately 0.62% of the company.
• Analysts have raised price targets for Applied Industrial Technologies, with Oppenheimer increasing their target to $300.00 and Robert W. Baird maintaining an "outperform" rating.
• The company recently declared a $0.46 per share quarterly dividend and initiated a share repurchase program allowing for the buyback of up to 1,500,000 shares.

Fiduciary Management Inc. WI decreased its position in Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) by 2.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 236,523 shares of the industrial products company's stock after selling 6,917 shares during the quarter. Fiduciary Management Inc. WI owned about 0.62% of Applied Industrial Technologies worth $53,298,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AIT. MassMutual Private Wealth & Trust FSB grew its position in Applied Industrial Technologies by 51.2% in the first 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 lifted its stake in shares of 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 during the last quarter. Wayfinding Financial LLC acquired a new stake in shares of Applied Industrial Technologies in the 1st quarter valued at $38,000. Opal Wealth Advisors LLC bought a new stake in Applied Industrial Technologies in the first quarter worth $41,000. Finally, First Horizon Advisors Inc. increased its position in Applied Industrial Technologies by 31.1% during the first quarter. First Horizon Advisors Inc. now owns 215 shares of the industrial products company's stock worth $48,000 after buying an additional 51 shares during the last quarter. Institutional investors own 93.52% of the company's stock.

Insider Transactions at Applied Industrial Technologies

In other Applied Industrial Technologies news, VP Jason W. Vasquez sold 7,466 shares of the business's stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $260.08, for a total transaction of $1,941,757.28. Following the transaction, the vice president owned 14,491 shares in the company, valued at $3,768,819.28. The trade was a 34.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Kurt W. Loring sold 8,523 shares of the business's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $267.06, for a total transaction of $2,276,152.38. Following the sale, the vice president directly owned 19,273 shares of the company's stock, valued at $5,147,047.38. This represents a 30.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 42,660 shares of company stock valued at $11,217,980 over the last 90 days. Company insiders own 1.67% of the company's stock.

Applied Industrial Technologies Stock Up 0.0%

Shares of AIT traded up $0.01 during mid-day trading on Wednesday, reaching $267.00. The company had a trading volume of 159,846 shares, compared to its average volume of 403,852. The firm has a 50-day moving average price of $255.77 and a 200 day moving average price of $240.31. The company has a market capitalization of $10.08 billion, a price-to-earnings ratio of 26.38, a price-to-earnings-growth ratio of 2.79 and a beta of 0.94. Applied Industrial Technologies, Inc. has a 52 week low of $191.31 and a 52 week high of $282.98. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.36 and a current ratio of 3.32.

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

Applied Industrial Technologies announced that its board has authorized a share buyback program on Thursday, May 1st that allows the company to repurchase 1,500,000 shares. This repurchase authorization allows the industrial products company to buy shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company's board of directors believes its shares are undervalued.

Applied Industrial Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be given a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Friday, August 15th. Applied Industrial Technologies's payout ratio is presently 18.18%.

Analysts Set New Price Targets

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

About Applied Industrial Technologies

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.