Voya Investment Management LLC Boosts Position in Applied Industrial Technologies, Inc. $AIT

Key Points

• Voya Investment Management LLC has increased its stake in Applied Industrial Technologies, Inc. by 522.2%, now holding approximately 0.38% of the company, valued at about $32.38 million.
• The company's recent earnings report showed a quarterly revenue of $1.22 billion and earnings per share of $2.80, exceeding analysts' expectations.
• Applied Industrial Technologies announced a quarterly dividend of $0.46, with an annualized payout of $1.84 and a yield of 0.7%.

Voya Investment Management LLC boosted its holdings in shares of Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) by 522.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 143,696 shares of the industrial products company's stock after acquiring an additional 120,602 shares during the period. Voya Investment Management LLC owned about 0.38% of Applied Industrial Technologies worth $32,380,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of the company. Inspire Investing LLC boosted its holdings in shares of Applied Industrial Technologies by 5.7% in the 1st quarter. Inspire Investing LLC now owns 2,914 shares of the industrial products company's stock valued at $657,000 after buying an additional 157 shares in the last quarter. Strs Ohio purchased a new position in Applied Industrial Technologies during the 1st quarter worth approximately $8,878,000. Intech Investment Management LLC raised its position in Applied Industrial Technologies by 42.5% during the 1st quarter. Intech Investment Management LLC now owns 25,214 shares of the industrial products company's stock worth $5,682,000 after buying an additional 7,518 shares during the last quarter. Focus Partners Wealth increased its holdings in shares of Applied Industrial Technologies by 4.5% during the 1st quarter. Focus Partners Wealth now owns 1,341 shares of the industrial products company's stock valued at $302,000 after purchasing an additional 58 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Applied Industrial Technologies by 12.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 98,348 shares of the industrial products company's stock valued at $22,162,000 after purchasing an additional 10,863 shares in the last quarter. 93.52% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Neil A. Schrimsher sold 26,671 shares of Applied Industrial Technologies stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $262.46, for a total transaction of $7,000,070.66. Following the transaction, the chief executive officer owned 149,735 shares in the company, valued at $39,299,448.10. The trade was a 15.12% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Kurt W. Loring sold 8,523 shares of Applied Industrial Technologies stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $267.06, for a total value of $2,276,152.38. Following the transaction, the vice president owned 19,273 shares in the company, valued at approximately $5,147,047.38. This represents a 30.66% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 42,660 shares of company stock valued at $11,217,980 in the last 90 days. 1.60% of the stock is owned by insiders.

Applied Industrial Technologies Price Performance

AIT traded up $4.19 on Thursday, hitting $263.69. 38,842 shares of the company's stock were exchanged, compared to its average volume of 385,768. Applied Industrial Technologies, Inc. has a fifty-two week low of $199.96 and a fifty-two week high of $282.98. The company has a current ratio of 3.32, a quick ratio of 2.36 and a debt-to-equity ratio of 0.31. The firm has a 50-day moving average price of $264.50 and a 200-day moving average price of $241.19. The stock has a market cap of $9.95 billion, a price-to-earnings ratio of 26.08, a P/E/G ratio of 2.77 and a beta of 1.00.

Applied Industrial Technologies (NYSE:AIT - Get Free Report) last announced its earnings results on Thursday, August 14th. The industrial products company reported $2.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.60 by $0.20. Applied Industrial Technologies had a net margin of 8.61% and a return on equity of 21.78%. The company had revenue of $1.22 billion for the quarter, compared to analysts' expectations of $1.18 billion. During the same quarter in the previous year, the company posted $2.64 EPS. The firm's quarterly revenue was up 5.5% on a year-over-year basis. Applied Industrial Technologies has set its FY 2026 guidance at 10.000-10.75 EPS. As a group, equities analysts anticipate that Applied Industrial Technologies, Inc. will post 9.9 earnings per share for the current year.

Applied Industrial Technologies Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on AIT. Robert W. Baird lifted their target price on shares of Applied Industrial Technologies from $265.00 to $300.00 and gave the company an "outperform" rating in a report on Friday, August 15th. Bank of America lifted their target price on shares of Applied Industrial Technologies from $275.00 to $290.00 and gave the company a "buy" rating in a report on Friday, August 22nd. Industrial Alliance Securities set a $290.00 price target on shares of Applied Industrial Technologies in a research note on Friday, August 22nd. Wall Street Zen raised shares of Applied Industrial Technologies from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Finally, Raymond James Financial cut shares of Applied Industrial Technologies from an "outperform" rating to a "market perform" rating in a research note on Friday, August 15th. Six investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Applied Industrial Technologies presently has an average 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.