Oak Associates Ltd. OH Has $6.43 Million Stock Holdings in Applied Industrial Technologies, Inc. $AIT

Key Points

• Oak Associates Ltd. OH reduced its stake in Applied Industrial Technologies by 3.5%, holding 28,547 shares valued at approximately $6.4 million.
• Analysts have mixed views, with Raymond James downgrading the stock while Robert W. Baird and Bank of America raised price targets to $300 and $290, respectively.
• The company declared a quarterly dividend of $0.46 per share, indicating a dividend yield of 0.7% and a payout ratio of 18.18%.

Oak Associates Ltd. OH trimmed its holdings in shares of Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) by 3.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,547 shares of the industrial products company's stock after selling 1,050 shares during the period. Oak Associates Ltd. OH owned 0.07% of Applied Industrial Technologies worth $6,433,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of 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 valued at $29,000 after buying an additional 44 shares during the period. Harbor Investment Advisory LLC boosted its holdings in shares of Applied Industrial Technologies by 97.5% in the first quarter. Harbor Investment Advisory LLC now owns 160 shares of the industrial products company's stock valued at $36,000 after buying an additional 79 shares during the period. Wayfinding Financial LLC acquired a new position in shares of Applied Industrial Technologies in the first quarter valued at approximately $38,000. Opal Wealth Advisors LLC acquired a new position in shares of Applied Industrial Technologies in the first quarter valued at approximately $41,000. Finally, First Horizon Advisors Inc. boosted its holdings in shares of Applied Industrial Technologies by 31.1% in the first quarter. First Horizon Advisors Inc. now owns 215 shares of the industrial products company's stock valued at $48,000 after buying an additional 51 shares during the period. Institutional investors own 93.52% of the company's stock.

Applied Industrial Technologies Price Performance

Applied Industrial Technologies stock traded down $3.04 during trading hours on Friday, reaching $263.43. 154,024 shares of the stock were exchanged, compared to its average volume of 302,576. The stock has a 50 day moving average of $258.15 and a two-hundred day moving average of $240.39. The company has a current ratio of 3.32, a quick ratio of 2.36 and a debt-to-equity ratio of 0.31. Applied Industrial Technologies, Inc. has a twelve month low of $191.31 and a twelve month high of $282.98. The company has a market cap of $9.94 billion, a P/E ratio of 26.03, a price-to-earnings-growth ratio of 2.78 and a beta of 0.94.

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

Applied Industrial Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were issued a dividend of $0.46 per share. The ex-dividend date was Friday, August 15th. This represents a $1.84 annualized dividend and a dividend yield of 0.7%. Applied Industrial Technologies's dividend payout ratio is 18.18%.

Insider Transactions at Applied Industrial Technologies

In other news, VP Jason W. Vasquez sold 7,466 shares of the company'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 completion of the transaction, the vice president directly owned 14,491 shares in the company, valued at approximately $3,768,819.28. This represents a 34.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Kurt W. Loring sold 8,523 shares of the company's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $267.06, for a total transaction of $2,276,152.38. Following the transaction, the vice president owned 19,273 shares of the company's stock, valued at $5,147,047.38. This trade represents a 30.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 42,660 shares of company stock worth $11,217,980. Corporate insiders own 1.67% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on AIT shares. Industrial Alliance Securities set a $290.00 price target on shares of Applied Industrial Technologies in a report on Friday, August 22nd. Bank of America boosted their price target on shares of Applied Industrial Technologies from $275.00 to $290.00 and gave the stock a "buy" rating in a research report on Friday, August 22nd. Robert W. Baird boosted their price target on shares of Applied Industrial Technologies from $265.00 to $300.00 and gave the stock an "outperform" rating in a research report on Friday, August 15th. Raymond James Financial cut shares of Applied Industrial Technologies from an "outperform" rating to a "market perform" rating in a research report on Friday, August 15th. Finally, Oppenheimer boosted their price target on shares of Applied Industrial Technologies from $290.00 to $300.00 and gave the stock an "outperform" rating in a research report on Friday, August 15th. Six investment analysts have rated the stock with a Buy rating and one has given 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 an average target price of $285.00.

Applied Industrial Technologies Company Profile

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.