Citigroup Inc. Has $11.31 Million Stock Position in Applied Industrial Technologies, Inc. $AIT

Key Points

• Citigroup Inc. increased its stake in Applied Industrial Technologies by 8.8%, owning 50,203 shares valued at approximately $11.31 million as of the latest quarter.
• The company's recent quarterly earnings showed an EPS of $2.80, exceeding analysts' expectations by $0.20, and reported revenues of $1.22 billion, up 5.5% year-over-year.
• Applied Industrial Technologies announced a stock buyback program for up to 1.5 million shares, indicating management's belief that the stock is undervalued.

Citigroup Inc. boosted its holdings in Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) by 8.8% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 50,203 shares of the industrial products company's stock after buying an additional 4,054 shares during the quarter. Citigroup Inc. owned approximately 0.13% of Applied Industrial Technologies worth $11,313,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AIT. Baird Financial Group Inc. increased its stake in shares of Applied Industrial Technologies by 2.5% in the fourth quarter. Baird Financial Group Inc. now owns 1,588 shares of the industrial products company's stock valued at $380,000 after buying an additional 39 shares during the period. MassMutual Private Wealth & Trust FSB boosted its position in Applied Industrial Technologies by 51.2% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 130 shares of the industrial products company's stock worth $29,000 after buying an additional 44 shares during the period. First Horizon Advisors Inc. grew its holdings in Applied Industrial Technologies by 31.1% during the 1st quarter. First Horizon Advisors Inc. now owns 215 shares of the industrial products company's stock worth $48,000 after acquiring an additional 51 shares during the last quarter. Two Sigma Investments LP increased its position in Applied Industrial Technologies by 1.4% in the 4th quarter. Two Sigma Investments LP now owns 4,676 shares of the industrial products company's stock valued at $1,120,000 after acquiring an additional 64 shares during the period. Finally, Azzad Asset Management Inc. ADV increased its position in Applied Industrial Technologies by 1.5% in the 1st quarter. Azzad Asset Management Inc. ADV now owns 4,675 shares of the industrial products company's stock valued at $1,053,000 after acquiring an additional 70 shares during the period. Institutional investors own 93.52% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Raymond James Financial lowered shares of Applied Industrial Technologies from an "outperform" rating to a "market perform" rating in a report on Friday, August 15th. Oppenheimer lifted their target price on Applied Industrial Technologies from $290.00 to $300.00 and gave the stock an "outperform" rating in a report on Friday, August 15th. Wall Street Zen upgraded Applied Industrial Technologies from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Finally, Robert W. Baird raised their price objective on Applied Industrial Technologies from $265.00 to $300.00 and gave the stock an "outperform" rating in a research report on Friday, August 15th. Six equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $287.86.

Applied Industrial Technologies Trading Down 1.3%

Applied Industrial Technologies stock traded down $3.5310 during trading hours on Thursday, reaching $258.9290. 235,907 shares of the company's stock were exchanged, compared to its average volume of 332,444. The firm's 50 day simple moving average is $253.41 and its 200 day simple moving average is $240.42. Applied Industrial Technologies, Inc. has a twelve month low of $191.31 and a twelve month high of $282.98. The company has a quick ratio of 2.36, a current ratio of 3.32 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $9.77 billion, a PE ratio of 25.59, a PEG ratio of 3.20 and a beta of 0.94.

Applied Industrial Technologies (NYSE:AIT - Get Free Report) last announced its earnings results on Thursday, August 14th. The industrial products company reported $2.80 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 firm's revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.64 EPS. Applied Industrial Technologies has set its FY 2026 guidance at 10.000-10.75 EPS. Research analysts predict that Applied Industrial Technologies, Inc. will post 9.9 earnings per share for the current year.

Applied Industrial Technologies Dividend Announcement

The business 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 dividend of $0.46 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.84 annualized dividend and a dividend yield of 0.7%. Applied Industrial Technologies's dividend payout ratio (DPR) is 18.18%.

Applied Industrial Technologies declared that its board has initiated a share buyback plan on Thursday, May 1st that authorizes the company to buyback 1,500,000 outstanding shares. This buyback authorization authorizes the industrial products company to buy shares of its stock through open market purchases. Stock buyback plans are often a sign that the company's leadership believes its shares are undervalued.

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.