Applied Industrial Technologies, Inc. $AIT Stock Holdings Lifted by Intech Investment Management LLC

Key Points

• Intech Investment Management LLC increased its holdings in Applied Industrial Technologies by 42.5%, now owning 25,214 shares worth approximately $5.68 million.
• Analysts have set a new average price target of $285 for Applied Industrial Technologies, with multiple firms giving an "outperform" rating.
• Applied Industrial Technologies declared a quarterly dividend of $0.46 per share, resulting in an annualized yield of 0.7%.

Intech Investment Management LLC raised its position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) by 42.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,214 shares of the industrial products company's stock after acquiring an additional 7,518 shares during the period. Intech Investment Management LLC owned approximately 0.07% of Applied Industrial Technologies worth $5,682,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of AIT. MassMutual Private Wealth & Trust FSB increased its position in shares of 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 valued at $29,000 after purchasing an additional 44 shares during the last quarter. Rise Advisors LLC increased its stake in Applied Industrial Technologies by 111.1% in the first quarter. Rise Advisors LLC now owns 133 shares of the industrial products company's stock worth $30,000 after purchasing an additional 70 shares during the period. Harbor Investment Advisory LLC boosted its stake in shares of Applied Industrial Technologies by 97.5% during the first quarter. Harbor Investment Advisory LLC now owns 160 shares of the industrial products company's stock valued at $36,000 after purchasing an additional 79 shares during the period. Wayfinding Financial LLC purchased a new stake in shares of Applied Industrial Technologies during the first quarter valued at $38,000. Finally, Opal Wealth Advisors LLC bought a new position in shares of Applied Industrial Technologies in the first quarter worth about $41,000. Institutional investors own 93.52% of the company's stock.

Applied Industrial Technologies Stock Performance

AIT traded down $0.09 on Wednesday, hitting $262.49. 35,969 shares of the company traded hands, compared to its average volume of 386,613. The company has a 50 day moving average of $264.34 and a 200-day moving average of $241.06. 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 stock has a market capitalization of $9.91 billion, a PE ratio of 26.03, a PEG ratio of 2.78 and a beta of 1.00. Applied Industrial Technologies, Inc. has a 12-month low of $199.96 and a 12-month high of $282.98.

Applied Industrial Technologies (NYSE:AIT - Get Free Report) last issued its earnings results 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. The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.18 billion. Applied Industrial Technologies had a return on equity of 21.78% and a net margin of 8.61%.The company's revenue for the quarter was up 5.5% on a year-over-year basis. During the same period in the prior year, the business posted $2.64 EPS. Applied Industrial Technologies has set its FY 2026 guidance at 10.000-10.75 EPS. Sell-side analysts anticipate that Applied Industrial Technologies, Inc. will post 9.9 earnings per share for the current year.

Applied Industrial Technologies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Friday, August 15th. Applied Industrial Technologies's dividend payout ratio is 18.18%.

Insider Transactions at Applied Industrial Technologies

In other news, VP Kurt W. Loring sold 8,523 shares of the firm's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $267.06, for a total transaction of $2,276,152.38. Following the sale, the vice president owned 19,273 shares in the company, valued at $5,147,047.38. This trade represents a 30.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Jason W. Vasquez sold 7,466 shares of the firm's stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $260.08, for a total value of $1,941,757.28. Following the sale, the vice president owned 14,491 shares in the company, valued at $3,768,819.28. This trade represents a 34.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 42,660 shares of company stock worth $11,217,980 over the last quarter. 1.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have recently commented on AIT. Industrial Alliance Securities set a $290.00 price target on shares of Applied Industrial Technologies in a report on Friday, August 22nd. Wall Street Zen raised Applied Industrial Technologies from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Oppenheimer increased their price target on Applied Industrial Technologies from $290.00 to $300.00 and gave the stock an "outperform" rating in a research report on Friday, August 15th. Robert W. Baird increased their price target 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. Finally, Raymond James Financial downgraded Applied Industrial Technologies from an "outperform" rating to a "market perform" rating in a research report on Friday, August 15th. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $285.00.

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.