Assenagon Asset Management S.A. Has $17.08 Million Stock Holdings in Applied Industrial Technologies, Inc. $AIT

Key Points

• Assenagon Asset Management trimmed its Applied Industrial Technologies stake by 10.1% in Q1, selling 7,244 shares and leaving it with 64,379 shares worth about $17.08 million.
• Applied Industrial Technologies reported strong quarterly results, with EPS of $2.65 topping estimates and revenue of $1.25 billion also above expectations. The company raised guidance for fiscal 2026 and continues to show solid profitability.
• Analyst sentiment remains positive: six analysts rate AIT a Buy and one a Hold, with a consensus rating of Moderate Buy and an average price target of $323.14.

Assenagon Asset Management S.A. cut its stake in shares of Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) by 10.1% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 64,379 shares of the industrial products company's stock after selling 7,244 shares during the period. Assenagon Asset Management S.A. owned about 0.17% of Applied Industrial Technologies worth $17,081,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Torren Management LLC acquired a new stake in shares of Applied Industrial Technologies in the fourth quarter valued at about $25,000. Anchor Investment Management LLC acquired a new stake in Applied Industrial Technologies during the 4th quarter valued at approximately $32,000. V Square Quantitative Management LLC bought a new position in Applied Industrial Technologies during the 4th quarter worth approximately $34,000. Allworth Financial LP raised its holdings 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 worth $40,000 after purchasing an additional 125 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its position in shares of Applied Industrial Technologies by 78.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 177 shares of the industrial products company's stock worth $46,000 after purchasing an additional 78 shares during the period. 93.52% of the stock is currently owned by institutional investors.

Applied Industrial Technologies Price Performance

Shares of NYSE:AIT opened at $336.97 on Friday. The company's 50-day moving average is $311.79 and its 200 day moving average is $285.22. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.97 and a current ratio of 2.95. The company has a market capitalization of $12.45 billion, a P/E ratio of 31.82, a price-to-earnings-growth ratio of 3.21 and a beta of 0.84. Applied Industrial Technologies, Inc. has a fifty-two week low of $230.44 and a fifty-two week high of $345.48.

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 analysts' consensus estimates of $2.63 by $0.02. The business had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.23 billion. Applied Industrial Technologies had a return on equity of 21.64% and a net margin of 8.34%.The company's quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the firm 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. On average, equities research analysts forecast 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 declared a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Friday, August 14th will be issued 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 (DPR) is 19.26%.

Insiders Place Their Bets

In related news, Director Madhuri A. Andrews sold 3,845 shares of the firm's stock in a transaction dated 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 directly owned 4,951 shares of the company's stock, valued at $1,633,285.39. This trade represents a 43.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Warren E. Hoffner III sold 8,000 shares of Applied Industrial Technologies 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 owned 40,751 shares in the company, valued at approximately $12,471,436.04. This represents a 16.41% 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.

Wall Street Analyst Weigh In

AIT has been the subject of several recent analyst reports. Robert W. Baird set a $317.00 target price on Applied Industrial Technologies in a research note on Wednesday, April 29th. DA Davidson initiated coverage on Applied Industrial Technologies in a research note on Tuesday, June 16th. They issued a "buy" rating and a $380.00 price target on the stock. Oppenheimer increased their price target on Applied Industrial Technologies from $300.00 to $350.00 and gave the stock an "outperform" rating in a report on Wednesday, April 29th. Wall Street Zen downgraded shares of Applied Industrial Technologies from a "buy" rating to a "hold" rating in a research report on Saturday, May 2nd. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Applied Industrial Technologies in a research note on Friday, April 24th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $323.14.

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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