Comerica Bank Has $4.42 Million Holdings in Applied Industrial Technologies, Inc. $AIT

Key Points

• Comerica Bank cut its stake in Applied Industrial Technologies by 47.7%, selling 15,687 shares and leaving 17,224 shares valued at $4.423 million per its latest 13F filing.
• Applied Industrial beat Q results with $2.65 EPS (vs. $2.63 est.) and $1.25 billion revenue (+7.3% YoY), and set FY2026 guidance at 10.640–10.750 EPS while trading with an $11.19 billion market cap.
• Company insiders have been active sellers—totaling 28,654 shares (~$8.21M) in the last 90 days—while the firm declared a quarterly dividend of $0.51 (annualized $2.04, 0.7% yield).

Comerica Bank lessened its holdings in shares of Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) by 47.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 17,224 shares of the industrial products company's stock after selling 15,687 shares during the period. Comerica Bank's holdings in Applied Industrial Technologies were worth $4,423,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Wolverine Asset Management LLC purchased a new stake in Applied Industrial Technologies in the 3rd quarter worth $1,044,000. Alps Advisors Inc. grew its position in shares of Applied Industrial Technologies by 33.0% during the third quarter. Alps Advisors Inc. now owns 32,824 shares of the industrial products company's stock valued at $8,569,000 after purchasing an additional 8,153 shares in the last quarter. Citigroup Inc. increased its holdings in shares of Applied Industrial Technologies by 44.4% in the third quarter. Citigroup Inc. now owns 30,319 shares of the industrial products company's stock worth $7,915,000 after purchasing an additional 9,321 shares during the last quarter. First Trust Advisors LP increased its holdings in shares of Applied Industrial Technologies by 22.7% in the third quarter. First Trust Advisors LP now owns 933,067 shares of the industrial products company's stock worth $243,577,000 after purchasing an additional 172,857 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of Applied Industrial Technologies by 27.3% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 46,126 shares of the industrial products company's stock worth $12,041,000 after buying an additional 9,898 shares in the last quarter. Institutional investors and hedge funds own 93.52% of the company's stock.

Applied Industrial Technologies Price Performance

Shares of Applied Industrial Technologies stock opened at $302.85 on Friday. The stock has a market cap of $11.19 billion, a price-to-earnings ratio of 28.60, a price-to-earnings-growth ratio of 2.89 and a beta of 0.86. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.56 and a current ratio of 2.95. The stock has a 50 day moving average price of $276.67 and a 200-day moving average price of $268.19. Applied Industrial Technologies, Inc. has a one year low of $213.78 and a one year high of $309.67.

Applied Industrial Technologies (NYSE:AIT - Get Free Report) last issued its quarterly earnings results on Tuesday, April 28th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.63 by $0.02. Applied Industrial Technologies had a return on equity of 21.64% and a net margin of 8.34%.The company had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.23 billion. During the same period last year, the company earned $2.57 earnings per share. Applied Industrial Technologies's revenue was up 7.3% on a year-over-year basis. 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. Equities analysts expect that Applied Industrial Technologies, Inc. will post 10.7 EPS for the current year.

Applied Industrial Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Friday, May 15th will be paid a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, May 15th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.7%. Applied Industrial Technologies's payout ratio is currently 19.26%.

Insider Activity at Applied Industrial Technologies

In other news, VP Warren E. Hoffner III sold 4,000 shares of the company's stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $288.62, for a total transaction of $1,154,480.00. Following the transaction, the vice president owned 52,751 shares of the company's stock, valued at approximately $15,224,993.62. This represents a 7.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Neil A. Schrimsher sold 19,207 shares of the stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $285.85, for a total value of $5,490,320.95. Following the completion of the sale, the chief executive officer owned 130,528 shares in the company, valued at approximately $37,311,428.80. The trade was a 12.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 28,654 shares of company stock worth $8,212,829. Insiders own 1.60% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. KeyCorp raised their price target on Applied Industrial Technologies from $300.00 to $330.00 and gave the company an "overweight" rating in a report on Thursday, February 26th. Oppenheimer upped their price objective on Applied Industrial Technologies from $300.00 to $350.00 and gave the stock an "outperform" rating in a report on Wednesday. Weiss Ratings reiterated a "buy (b)" rating on shares of Applied Industrial Technologies in a research report on Friday, April 24th. Robert W. Baird set a $317.00 target price on shares of Applied Industrial Technologies in a report on Wednesday. Finally, Wall Street Zen cut shares of Applied Industrial Technologies from a "buy" rating to a "hold" rating in a research report on Saturday. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Applied Industrial Technologies currently has an average rating of "Moderate Buy" and a consensus price target of $313.67.

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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