Truist Financial Corp Sells 8,812 Shares of Applied Industrial Technologies, Inc. $AIT

Key Points

• Truist Financial Corp cut its stake in Applied Industrial Technologies by 62.6% in the fourth quarter, selling 8,812 shares and leaving it with 5,269 shares worth about $1.35 million.
• Applied Industrial Technologies beat quarterly expectations, reporting $2.65 EPS on revenue of $1.25 billion, while also issuing Q4 2026 and full-year 2026 guidance that topped current analyst estimates.
• The company raised its dividend to $0.51 per share quarterly, and analysts remain mostly positive with a consensus rating of Moderate Buy and an average price target of $313.67.

Truist Financial Corp lowered its holdings in Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) by 62.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,269 shares of the industrial products company's stock after selling 8,812 shares during the period. Truist Financial Corp's holdings in Applied Industrial Technologies were worth $1,353,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Torren Management LLC bought a new stake in shares of Applied Industrial Technologies in the fourth quarter valued at approximately $25,000. Smartleaf Asset Management LLC raised its position in shares of Applied Industrial Technologies by 890.0% in the third quarter. Smartleaf Asset Management LLC now owns 99 shares of the industrial products company's stock valued at $26,000 after purchasing an additional 89 shares during the period. Root Financial Partners LLC bought a new stake in shares of Applied Industrial Technologies in the third quarter valued at approximately $27,000. Abich Financial Wealth Management LLC bought a new stake in shares of Applied Industrial Technologies in the third quarter valued at approximately $29,000. Finally, V Square Quantitative Management LLC bought a new stake in shares of Applied Industrial Technologies in the fourth quarter valued at approximately $34,000. Institutional investors own 93.52% of the company's stock.

Applied Industrial Technologies Price Performance

Shares of NYSE:AIT opened at $307.46 on Friday. The company has a 50 day moving average of $282.03 and a 200 day moving average of $271.85. The stock has a market cap of $11.36 billion, a P/E ratio of 29.03, a P/E/G ratio of 3.01 and a beta of 0.86. Applied Industrial Technologies, Inc. has a 12 month low of $218.48 and a 12 month high of $317.10. 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 released its quarterly earnings results on Tuesday, April 28th. The industrial products company reported $2.65 EPS for the quarter, topping analysts' consensus estimates 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 business had revenue of $1.25 billion during the quarter, compared to analysts' expectations of $1.23 billion. During the same quarter in the previous year, the company earned $2.57 EPS. The business's quarterly 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, sell-side analysts forecast that Applied Industrial Technologies, Inc. will post 10.7 EPS for the current fiscal year.

Applied Industrial Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Shareholders of record on Friday, May 15th will be paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Friday, May 15th. Applied Industrial Technologies's payout ratio is currently 19.26%.

Insider Buying and Selling

In other Applied Industrial Technologies news, VP Warren E. Hoffner III sold 8,000 shares of the business's stock in a transaction that occurred on 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 transaction, the vice president owned 40,751 shares of the company's stock, valued at $12,471,436.04. The trade was a 16.41% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

AIT has been the topic of several research reports. Robert W. Baird set a $317.00 price target on shares of Applied Industrial Technologies in a research report on Wednesday, April 29th. Oppenheimer boosted their price target on shares of Applied Industrial Technologies from $300.00 to $350.00 and gave the company an "outperform" rating in a research report on Wednesday, April 29th. KeyCorp boosted their price objective 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 reaffirmed 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 investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, Applied Industrial Technologies currently has a consensus rating of "Moderate Buy" and an average 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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