Magnetar Financial LLC Makes New $4.85 Million Investment in Applied Industrial Technologies, Inc. $AIT

Key Points

• Magnetar Financial LLC established a new position in Applied Industrial Technologies (AIT) in Q3, buying 18,559 shares worth about $4.85 million.
• Analysts hold a “Moderate Buy” consensus with an average target of $294.38 and KeyCorp raised its target to $330; AIT also slightly beat quarterly EPS ($2.51 vs. $2.48) and issued FY2026 guidance of $10.45–$10.75 per share.
• Insiders sold 28,654 shares worth $8.21 million in the last quarter (insiders own 1.60%); the company raised its quarterly dividend to $0.51 ($2.04 annualized, ~0.8% yield).

Magnetar Financial LLC acquired a new stake in shares of Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 18,559 shares of the industrial products company's stock, valued at approximately $4,845,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Smartleaf Asset Management LLC increased its position in shares of Applied Industrial Technologies by 890.0% during the 3rd quarter. Smartleaf Asset Management LLC now owns 99 shares of the industrial products company's stock worth $26,000 after purchasing an additional 89 shares in the last quarter. Root Financial Partners LLC acquired a new position in Applied Industrial Technologies in the third quarter valued at about $27,000. Abich Financial Wealth Management LLC acquired a new position in Applied Industrial Technologies in the third quarter valued at about $29,000. First Horizon Corp bought a new stake in Applied Industrial Technologies during the third quarter worth about $47,000. Finally, Headlands Technologies LLC bought a new stake in Applied Industrial Technologies during the second quarter worth about $72,000. Institutional investors and hedge funds own 93.52% of the company's stock.

Wall Street Analysts Forecast Growth

AIT has been the subject of a number of research analyst reports. KeyCorp lifted their target price on shares of Applied Industrial Technologies from $300.00 to $330.00 and gave the company an "overweight" rating in a research note on Thursday, February 26th. Weiss Ratings restated a "buy (b)" rating on shares of Applied Industrial Technologies in a research report on Monday, December 29th. Finally, Wall Street Zen raised Applied Industrial Technologies from a "hold" rating to a "buy" rating in a report on Saturday, February 28th. Six research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $294.38.

Insider Buying and Selling

In other Applied Industrial Technologies news, VP Jason W. Vasquez sold 5,447 shares of the company's stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $287.87, for a total transaction of $1,568,027.89. Following the transaction, the vice president owned 14,491 shares of the company's stock, valued at approximately $4,171,524.17. This represents a 27.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Warren E. Hoffner III sold 4,000 shares of the stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $288.62, for a total value of $1,154,480.00. Following the completion of the transaction, the vice president owned 52,751 shares in the company, valued at $15,224,993.62. The trade was a 7.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 28,654 shares of company stock worth $8,212,829 in the last quarter. Insiders own 1.60% of the company's stock.

Applied Industrial Technologies Stock Up 2.2%

Shares of NYSE:AIT opened at $270.01 on Thursday. The company has a quick ratio of 2.56, a current ratio of 3.68 and a debt-to-equity ratio of 0.31. The firm has a market cap of $10.07 billion, a P/E ratio of 25.69, a P/E/G ratio of 2.53 and a beta of 0.81. Applied Industrial Technologies, Inc. has a 12 month low of $199.96 and a 12 month high of $296.70. The company's 50-day moving average price is $275.66 and its two-hundred day moving average price is $264.27.

Applied Industrial Technologies (NYSE:AIT - Get Free Report) last announced its earnings results on Tuesday, January 27th. The industrial products company reported $2.51 earnings per share for the quarter, topping analysts' consensus estimates of $2.48 by $0.03. Applied Industrial Technologies had a net margin of 8.49% and a return on equity of 21.74%. The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same period in the previous year, the firm posted $2.39 earnings per share. The company's revenue was up 8.4% on a year-over-year basis. Applied Industrial Technologies has set its FY 2026 guidance at 10.450-10.750 EPS. As a group, research analysts forecast that Applied Industrial Technologies, Inc. will post 9.9 EPS for the current fiscal year.

Applied Industrial Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Friday, February 13th were given a $0.51 dividend. This is a boost from Applied Industrial Technologies's previous quarterly dividend of $0.46. The ex-dividend date was Friday, February 13th. This represents a $2.04 annualized dividend and a yield of 0.8%. Applied Industrial Technologies's dividend payout ratio is presently 19.41%.

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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