Boston Trust Walden Corp Sells 19,917 Shares of Applied Industrial Technologies, Inc. $AIT

Boston Trust Walden Corp reduced its holdings in Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) by 4.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 484,060 shares of the industrial products company's stock after selling 19,917 shares during the quarter. Applied Industrial Technologies comprises 0.9% of Boston Trust Walden Corp's holdings, making the stock its 15th largest holding. Boston Trust Walden Corp owned 1.28% of Applied Industrial Technologies worth $124,292,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Smartleaf Asset Management LLC increased its holdings in Applied Industrial Technologies by 890.0% in the third quarter. Smartleaf Asset Management LLC now owns 99 shares of the industrial products company's stock worth $26,000 after purchasing an additional 89 shares in the last quarter. Root Financial Partners LLC acquired a new stake in Applied Industrial Technologies in the third quarter valued at approximately $27,000. Abich Financial Wealth Management LLC acquired a new stake in Applied Industrial Technologies in the third quarter valued at approximately $29,000. V Square Quantitative Management LLC acquired a new stake in Applied Industrial Technologies in the fourth quarter valued at approximately $34,000. Finally, Allworth Financial LP grew its stake in Applied Industrial Technologies by 446.4% in the third 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 period. 93.52% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

AIT has been the subject of a number of research reports. KeyCorp raised their price objective on Applied Industrial Technologies from $300.00 to $330.00 and gave the company an "overweight" rating in a research note on Thursday, February 26th. Weiss Ratings reissued a "buy (b)" rating on shares of Applied Industrial Technologies in a research note on Monday, December 29th. Finally, Wall Street Zen raised Applied Industrial Technologies from a "hold" rating to a "buy" rating in a research note on Saturday, April 11th. Five analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $295.00.

Insider Activity at Applied Industrial Technologies

In related news, CEO Neil A. Schrimsher sold 19,207 shares of Applied Industrial Technologies stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $285.85, for a total transaction of $5,490,320.95. Following the transaction, the chief executive officer owned 130,528 shares of the company's stock, valued at $37,311,428.80. The trade was a 12.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Jason W. Vasquez sold 5,447 shares of Applied Industrial Technologies stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $287.87, for a total value of $1,568,027.89. Following the transaction, the vice president directly owned 14,491 shares in the company, valued at approximately $4,171,524.17. The trade was a 27.32% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 28,654 shares of company stock valued at $8,212,829 over the last 90 days. Insiders own 1.60% of the company's stock.

Applied Industrial Technologies Stock Down 0.2%

Shares of NYSE:AIT opened at $293.32 on Wednesday. The stock has a market cap of $10.94 billion, a price-to-earnings ratio of 27.91, a PEG ratio of 2.81 and a beta of 0.82. The company has a quick ratio of 2.56, a current ratio of 3.68 and a debt-to-equity ratio of 0.31. Applied Industrial Technologies, Inc. has a 12-month low of $213.78 and a 12-month high of $297.28. The business's 50 day moving average is $274.40 and its 200 day moving average is $266.06.

Applied Industrial Technologies (NYSE:AIT - Get Free Report) last announced its earnings results on Tuesday, January 27th. The industrial products company reported $2.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.48 by $0.03. The company had revenue of $1.16 billion for the quarter, compared to analysts' expectations of $1.17 billion. Applied Industrial Technologies had a return on equity of 21.74% and a net margin of 8.49%.Applied Industrial Technologies's quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.39 earnings per share. Applied Industrial Technologies has set its FY 2026 guidance at 10.450-10.750 EPS. On average, sell-side analysts forecast that Applied Industrial Technologies, Inc. will post 10.65 earnings per share for the current fiscal year.

Applied Industrial Technologies Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Friday, February 13th were given a dividend of $0.51 per share. The ex-dividend date of this dividend was Friday, February 13th. This is a positive change from Applied Industrial Technologies's previous quarterly dividend of $0.46. This represents a $2.04 annualized dividend and a dividend yield of 0.7%. Applied Industrial Technologies's payout ratio is presently 19.41%.

About Applied Industrial Technologies

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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