Deutsche Bank AG Reduces Position in Applied Industrial Technologies, Inc. $AIT

Key Points

• Deutsche Bank AG reduced its stake in Applied Industrial Technologies, Inc. by 17%, currently holding about 0.14% of the company, valued at $12.3 million.
• The company's shares recently dropped by 6.5%, trading at $255.38, against a backdrop of increased trading activity and a market capitalization of $9.72 billion.
• Applied Industrial Technologies reported a strong earnings performance with an EPS of $2.80, exceeding analysts' expectations, alongside a new share buyback plan allowing for the repurchase of 1.5 million shares.

Deutsche Bank AG lessened its stake in shares of Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) by 17.0% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 54,748 shares of the industrial products company's stock after selling 11,241 shares during the quarter. Deutsche Bank AG owned approximately 0.14% of Applied Industrial Technologies worth $12,337,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in AIT. Envestnet Asset Management Inc. boosted its stake in shares of Applied Industrial Technologies by 1.0% during the fourth quarter. Envestnet Asset Management Inc. now owns 50,281 shares of the industrial products company's stock valued at $12,041,000 after purchasing an additional 485 shares during the period. Cerity Partners LLC boosted its stake in shares of Applied Industrial Technologies by 47.8% during the fourth quarter. Cerity Partners LLC now owns 2,199 shares of the industrial products company's stock valued at $515,000 after purchasing an additional 711 shares during the period. Bank of Montreal Can boosted its stake in shares of Applied Industrial Technologies by 11.8% during the fourth quarter. Bank of Montreal Can now owns 5,466 shares of the industrial products company's stock valued at $1,309,000 after purchasing an additional 577 shares during the period. Renaissance Technologies LLC purchased a new stake in shares of Applied Industrial Technologies during the fourth quarter valued at approximately $9,543,000. Finally, Advisory Services Network LLC purchased a new stake in shares of Applied Industrial Technologies during the fourth quarter valued at approximately $250,000. Hedge funds and other institutional investors own 93.52% of the company's stock.

Applied Industrial Technologies Stock Up 0.7%

AIT traded up $1.86 during trading on Tuesday, reaching $264.22. The stock had a trading volume of 34,646 shares, compared to its average volume of 410,236. The stock's 50 day moving average is $251.61 and its two-hundred day moving average is $240.11. The company has a current ratio of 3.32, a quick ratio of 2.36 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $10.06 billion, a price-to-earnings ratio of 26.12, a P/E/G ratio of 3.12 and a beta of 0.94. Applied Industrial Technologies, Inc. has a one year low of $191.31 and a one year high of $282.98.

Applied Industrial Technologies (NYSE:AIT - Get Free Report) last posted its quarterly earnings data on Thursday, August 14th. The industrial products company reported $2.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.60 by $0.20. Applied Industrial Technologies had a return on equity of 21.78% and a net margin of 8.61%.The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter in the prior year, the company earned $2.64 earnings per share. The firm's quarterly revenue was up 5.5% compared to the same quarter last year. Applied Industrial Technologies has set its FY 2026 guidance at 10.000-10.75 EPS. As a group, analysts expect that Applied Industrial Technologies, Inc. will post 9.9 earnings per share for the current year.

Applied Industrial Technologies announced that its board has approved a stock repurchase plan on Thursday, May 1st that allows the company to buyback 1,500,000 outstanding shares. This buyback authorization allows the industrial products company to purchase shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company's board of directors believes its stock is undervalued.

Applied Industrial Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be issued a dividend of $0.46 per share. The ex-dividend date 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 presently 18.18%.

Wall Street Analyst Weigh In

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

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.