SG Americas Securities LLC Reduces Holdings in Applied Industrial Technologies, Inc. $AIT

Key Points

• SG Americas Securities LLC cut its stake in Applied Industrial Technologies by 95.3% in the first quarter, leaving it with 2,840 shares valued at about $754,000 after selling 58,054 shares.
• Insider selling was notable, with VP Warren E. Hoffner III and Director Madhuri A. Andrews both reducing their holdings in recent transactions.
• Wall Street remains generally bullish on AIT: analysts have a consensus “Moderate Buy” rating with an average price target of $323.14, and the company recently beat quarterly EPS and revenue estimates.

SG Americas Securities LLC reduced its position in Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) by 95.3% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 2,840 shares of the industrial products company's stock after selling 58,054 shares during the period. SG Americas Securities LLC's holdings in Applied Industrial Technologies were worth $754,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Distillate Capital Partners LLC acquired a new stake in shares of Applied Industrial Technologies during the third quarter worth about $13,281,000. Barclays PLC grew its stake in shares of Applied Industrial Technologies by 91.4% in the 3rd quarter. Barclays PLC now owns 100,244 shares of the industrial products company's stock valued at $26,169,000 after purchasing an additional 47,868 shares during the last quarter. Tudor Investment Corp ET AL increased its holdings in shares of Applied Industrial Technologies by 39.8% in the third quarter. Tudor Investment Corp ET AL now owns 124,185 shares of the industrial products company's stock valued at $32,418,000 after purchasing an additional 35,374 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Applied Industrial Technologies by 1.5% during the third quarter. Dimensional Fund Advisors LP now owns 720,352 shares of the industrial products company's stock worth $188,040,000 after purchasing an additional 10,408 shares during the period. Finally, Pinnbrook Capital Management LP purchased a new position in Applied Industrial Technologies in the 3rd quarter valued at $4,941,000. Hedge funds and other institutional investors own 93.52% of the company's stock.

Insiders Place Their Bets

In other news, VP Warren E. Hoffner III sold 8,000 shares of the firm's stock in a transaction 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 transaction, 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 filing with the SEC, which is available through the SEC website. Also, Director Madhuri A. Andrews sold 3,845 shares of Applied Industrial Technologies stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $329.89, for a total value of $1,268,427.05. Following the transaction, the director directly owned 4,951 shares of the company's stock, valued at $1,633,285.39. This trade represents a 43.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on AIT. DA Davidson initiated coverage on shares of Applied Industrial Technologies in a research report on Tuesday, June 16th. They set a "buy" rating and a $380.00 price objective for the company. Robert W. Baird set a $317.00 price objective on shares of Applied Industrial Technologies in a research report on Wednesday, April 29th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Applied Industrial Technologies in a report on Friday, April 24th. Oppenheimer increased their target price 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 downgraded Applied Industrial Technologies from a "buy" rating to a "hold" rating in a research note on Saturday, May 2nd. Six investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Applied Industrial Technologies has a consensus rating of "Moderate Buy" and an average price target of $323.14.

Applied Industrial Technologies Price Performance

AIT stock opened at $318.66 on Tuesday. The firm has a 50 day moving average of $316.76 and a 200-day moving average of $288.46. Applied Industrial Technologies, Inc. has a 12-month low of $238.34 and a 12-month high of $345.48. The company has a current ratio of 2.95, a quick ratio of 1.97 and a debt-to-equity ratio of 0.19. The company has a market cap of $11.78 billion, a price-to-earnings ratio of 30.07, a PEG ratio of 2.86 and a beta of 0.83.

Applied Industrial Technologies (NYSE:AIT - Get Free Report) last released its quarterly earnings results on Tuesday, April 28th. The industrial products company reported $2.65 earnings per share for the quarter, topping analysts' consensus estimates of $2.63 by $0.02. Applied Industrial Technologies had a return on equity of 21.64% and a net margin of 8.34%.The business had revenue of $1.25 billion for the quarter, compared to analysts' expectations of $1.23 billion. During the same quarter in the prior year, the firm posted $2.57 EPS. The company's revenue 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. As a group, equities analysts expect that Applied Industrial Technologies, Inc. will post 10.71 EPS for the current fiscal year.

Applied Industrial Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Friday, August 14th will be issued a $0.51 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $2.04 annualized dividend and a yield of 0.6%. Applied Industrial Technologies's dividend payout ratio is 19.26%.

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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