Kingsview Wealth Management LLC Trims Stock Holdings in Applied Industrial Technologies, Inc. $AIT

Key Points

• Kingsview Wealth Management cut its stake in Applied Industrial Technologies by 55.6% in the fourth quarter, leaving it with 10,135 shares worth about $2.6 million.
• Applied Industrial Technologies reported better-than-expected quarterly results, posting $2.65 EPS on $1.25 billion in revenue, both slightly ahead of analyst estimates, while revenue rose 7.3% year over year.
• The stock has attracted mostly positive sentiment from analysts, with five Buy ratings and one Hold, giving it a Moderate Buy consensus and an average price target of $313.67.

Kingsview Wealth Management LLC decreased its holdings in Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) by 55.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,135 shares of the industrial products company's stock after selling 12,702 shares during the period. Kingsview Wealth Management LLC's holdings in Applied Industrial Technologies were worth $2,602,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. First Trust Advisors LP boosted its stake 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 acquiring an additional 172,857 shares during the period. Wellington Management Group LLP boosted its stake in shares of Applied Industrial Technologies by 24.7% in the third quarter. Wellington Management Group LLP now owns 769,441 shares of the industrial products company's stock worth $200,863,000 after acquiring an additional 152,197 shares during the period. Capital International Investors bought a new position in shares of Applied Industrial Technologies in the third quarter worth about $200,456,000. Dimensional Fund Advisors LP boosted its stake in shares of Applied Industrial Technologies by 1.5% in the third quarter. Dimensional Fund Advisors LP now owns 720,352 shares of the industrial products company's stock worth $188,040,000 after acquiring an additional 10,408 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of Applied Industrial Technologies by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 687,161 shares of the industrial products company's stock worth $176,479,000 after acquiring an additional 1,889 shares during the period. Institutional investors own 93.52% of the company's stock.

Applied Industrial Technologies Price Performance

Shares of Applied Industrial Technologies stock opened at $304.00 on Friday. The stock has a 50 day moving average of $290.72 and a 200 day moving average of $275.34. Applied Industrial Technologies, Inc. has a 12 month low of $221.52 and a 12 month high of $317.10. The firm has a market cap of $11.24 billion, a PE ratio of 28.71, a PEG ratio of 2.89 and a beta of 0.86. The company has a current ratio of 2.95, a quick ratio of 1.97 and a debt-to-equity ratio of 0.19.

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

Applied Industrial Technologies Dividend Announcement

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

Insider Activity

In other news, VP Warren E. Hoffner III sold 8,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 5th. The stock was 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 directly owned 40,751 shares of the company's stock, valued at $12,471,436.04. This trade represents a 16.41% decrease in their position. The transaction 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 insiders.

Analyst Ratings Changes

AIT has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Applied Industrial Technologies in a research note on Friday, April 24th. KeyCorp upped their price objective on 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 objective on Applied Industrial Technologies in a research note on Wednesday, April 29th. Oppenheimer upped their price objective on Applied Industrial Technologies from $300.00 to $350.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 29th. Finally, Wall Street Zen lowered 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 given a Hold rating to the stock. According to MarketBeat.com, Applied Industrial Technologies presently has a consensus rating of "Moderate Buy" and a consensus target price of $313.67.

Applied Industrial Technologies Company Profile

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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