F m Investments LLC Reduces Holdings in Applied Industrial Technologies, Inc. $AIT

Key Points

• F m Investments LLC reduced its stake in Applied Industrial Technologies by 10.8% in the fourth quarter, selling 5,165 shares and ending with 42,724 shares valued at about $10.97 million.
• Applied Industrial Technologies reported better-than-expected quarterly results, posting EPS of $2.65 versus $2.63 expected and revenue of $1.25 billion, up 7.3% year over year.
• The company also announced a quarterly dividend of $0.51 per share, while analysts currently maintain a Moderate Buy consensus with an average price target of $313.67.

F m Investments LLC trimmed its stake in Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) by 10.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 42,724 shares of the industrial products company's stock after selling 5,165 shares during the period. F m Investments LLC owned approximately 0.11% of Applied Industrial Technologies worth $10,970,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of AIT. Goldman Sachs Group Inc. grew its position in shares of Applied Industrial Technologies by 4.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 381,187 shares of the industrial products company's stock valued at $85,897,000 after buying an additional 14,926 shares during the last quarter. Empowered Funds LLC purchased a new position in shares of Applied Industrial Technologies in the 1st quarter valued at $318,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Applied Industrial Technologies by 12.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 98,348 shares of the industrial products company's stock worth $22,162,000 after purchasing an additional 10,863 shares during the period. Focus Partners Wealth boosted its stake in Applied Industrial Technologies by 4.5% during the 1st quarter. Focus Partners Wealth now owns 1,341 shares of the industrial products company's stock worth $302,000 after purchasing an additional 58 shares during the period. Finally, M&T Bank Corp acquired a new stake in Applied Industrial Technologies during the 2nd quarter worth $217,000. 93.52% of the stock is owned by hedge funds and other institutional investors.

Applied Industrial Technologies Stock Down 0.5%

Shares of NYSE AIT opened at $308.83 on Friday. The company has a quick ratio of 1.97, a current ratio of 2.95 and a debt-to-equity ratio of 0.19. Applied Industrial Technologies, Inc. has a 52 week low of $218.48 and a 52 week high of $317.10. The firm has a 50-day moving average price of $278.46 and a 200 day moving average price of $269.64. The stock has a market capitalization of $11.41 billion, a price-to-earnings ratio of 29.16, a price-to-earnings-growth ratio of 2.96 and a beta of 0.86.

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

Applied Industrial Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Friday, May 15th will be paid a $0.51 dividend. The ex-dividend date is Friday, May 15th. This represents a $2.04 annualized dividend and a dividend yield of 0.7%. Applied Industrial Technologies's dividend payout ratio (DPR) is 19.26%.

Insider Activity at Applied Industrial Technologies

In related news, VP Warren E. Hoffner III sold 8,000 shares of the firm's stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $306.04, for a total value of $2,448,320.00. Following the completion of the sale, the vice president owned 40,751 shares in the company, valued at $12,471,436.04. This trade represents a 16.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.60% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on AIT shares. Oppenheimer increased their price target on shares of Applied Industrial Technologies from $300.00 to $350.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 29th. KeyCorp increased their price target on shares of Applied Industrial Technologies from $300.00 to $330.00 and gave the stock an "overweight" rating in a research note on Thursday, February 26th. Robert W. Baird set a $317.00 price target on shares of Applied Industrial Technologies in a research note on Wednesday, April 29th. Weiss Ratings reiterated a "buy (b)" rating on shares of Applied Industrial Technologies in a research note on Friday, April 24th. Finally, Wall Street Zen cut shares of Applied Industrial Technologies from a "buy" rating to a "hold" rating in a research note on Saturday, May 2nd. Five analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Applied Industrial Technologies has a consensus rating of "Moderate Buy" and an average target price 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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