Assenagon Asset Management S.A. Has $23.70 Million Holdings in Applied Industrial Technologies, Inc. $AIT

Key Points

• Assenagon Asset Management increased its Applied Industrial Technologies stake by 8.8% in the second quarter, bringing its holdings to 70,075 shares valued at approximately $23.7 million. Institutional investors collectively own 93.52% of the company.
• Analyst sentiment remains favorable, with seven analysts rating AIT a Buy and one issuing a Hold rating. The consensus rating is “Moderate Buy”, with an average price target of $336.71, despite the stock trading near its 12-month high.
• Applied Industrial Technologies declared a quarterly dividend of $0.51 per share, equal to $2.04 annually and a 0.6% yield. Investors are also awaiting the company’s upcoming earnings report, while analysts have made modest upward revisions to future EPS estimates.

Assenagon Asset Management S.A. raised its position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) by 8.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 70,075 shares of the industrial products company's stock after acquiring an additional 5,696 shares during the period. Assenagon Asset Management S.A. owned approximately 0.19% of Applied Industrial Technologies worth $23,696,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Torren Management LLC acquired a new stake in Applied Industrial Technologies during the 4th quarter worth approximately $25,000. Anchor Investment Management LLC bought a new position in Applied Industrial Technologies during the 4th quarter worth $32,000. V Square Quantitative Management LLC bought a new position in Applied Industrial Technologies during the 4th quarter worth $34,000. Smartleaf Asset Management LLC lifted its holdings in shares of Applied Industrial Technologies by 78.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 177 shares of the industrial products company's stock worth $46,000 after buying an additional 78 shares in the last quarter. Finally, Los Angeles Capital Management LLC acquired a new stake in shares of Applied Industrial Technologies during the fourth quarter worth $46,000. Institutional investors and hedge funds own 93.52% of the company's stock.

Insider Buying and Selling

In other Applied Industrial Technologies news, Director Madhuri A. Andrews sold 3,845 shares of the firm's stock in a transaction that occurred on Thursday, June 18th. The shares were 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 trade represents a 43.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 1.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Oppenheimer upped their price target on shares of Applied Industrial Technologies from $300.00 to $350.00 and gave the company an "outperform" rating in a research note on Wednesday, April 29th. DA Davidson began coverage on Applied Industrial Technologies in a report on Tuesday, June 16th. They set a "buy" rating and a $380.00 target price on the stock. Robert W. Baird set a $317.00 price target on Applied Industrial Technologies in a research report on Wednesday, April 29th. Wall Street Zen downgraded Applied Industrial Technologies from a "buy" rating to a "hold" rating in a research note on Saturday, May 2nd. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Applied Industrial Technologies in a research report on Tuesday, July 21st. Seven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $336.71.

Applied Industrial Technologies Stock Up 0.0%

Shares of NYSE AIT opened at $359.97 on Monday. The company has a current ratio of 2.95, a quick ratio of 1.97 and a debt-to-equity ratio of 0.19. The company has a market cap of $13.30 billion, a price-to-earnings ratio of 33.99, a PEG ratio of 3.10 and a beta of 0.84. Applied Industrial Technologies, Inc. has a 12 month low of $238.34 and a 12 month high of $362.93. The stock has a 50-day moving average price of $332.39 and a two-hundred day moving average price of $300.80.

Applied Industrial Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Friday, August 14th will be paid a $0.51 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $2.04 annualized dividend and a yield of 0.6%. Applied Industrial Technologies's dividend payout ratio is presently 19.26%.

Key Headlines Impacting Applied Industrial Technologies

Here are the key news stories impacting Applied Industrial Technologies this week:

• Positive Sentiment: Zacks Research raised EPS estimates across multiple future periods. Forecasts increased for Q4 2026 to $2.90 from $2.89, Q3 2027 to $2.90 from $2.88, Q4 2027 to $3.26 from $3.25, and fiscal 2027 to $11.69 from $11.65. Estimates for 2028 also moved higher, including fiscal-year EPS of $12.76 versus $12.73 previously. The revisions signal slightly improved analyst expectations for Applied Industrial Technologies’ earnings growth and may support investor sentiment. Applied Industrial Technologies stock information
• Neutral Sentiment: Investors are also looking ahead to the company’s upcoming earnings report. Applied Industrial Technologies is expected to announce results on Thursday, creating a near-term catalyst. The current full-year consensus EPS estimate is $10.71, but the cited reports contain no new operating results, revenue guidance, or changes to the company’s official outlook. Applied Industrial Technologies expected earnings announcement

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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