Westfield Capital Management Co. LP Increases Stock Position in Applied Industrial Technologies, Inc. $AIT

Key Points

• Westfield Capital Management increased its stake in Applied Industrial Technologies by 21.5% in the fourth quarter, ending with 285,290 shares valued at about $73.3 million.
• Wall Street remains broadly positive on AIT, with five Buy ratings and one Hold; the stock’s average analyst target price is $313.67.
• Applied Industrial Technologies beat quarterly expectations, reporting $2.65 EPS on $1.25 billion in revenue, while also paying a $0.51 quarterly dividend and seeing an insider sale by VP Warren E. Hoffner III.

Westfield Capital Management Co. LP boosted its stake in Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) by 21.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 285,290 shares of the industrial products company's stock after purchasing an additional 50,556 shares during the quarter. Westfield Capital Management Co. LP owned about 0.76% of Applied Industrial Technologies worth $73,254,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in AIT. Goldman Sachs Group Inc. raised its stake in shares of Applied Industrial Technologies by 4.1% during the first quarter. Goldman Sachs Group Inc. now owns 381,187 shares of the industrial products company's stock worth $85,897,000 after acquiring an additional 14,926 shares in the last quarter. Empowered Funds LLC purchased a new position in shares of Applied Industrial Technologies during the first quarter worth approximately $318,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Applied Industrial Technologies by 12.4% during the first 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 worth $22,162,000 after acquiring an additional 10,863 shares in the last quarter. Focus Partners Wealth grew its holdings in shares of Applied Industrial Technologies by 4.5% in the first quarter. Focus Partners Wealth now owns 1,341 shares of the industrial products company's stock worth $302,000 after purchasing an additional 58 shares during the last quarter. Finally, M&T Bank Corp bought a new stake in Applied Industrial Technologies in the second quarter valued at $217,000. 93.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on AIT shares. Oppenheimer lifted their price target on shares of Applied Industrial Technologies from $300.00 to $350.00 and gave the company an "outperform" rating in a report on Wednesday, April 29th. Robert W. Baird set a $317.00 target price on shares of Applied Industrial Technologies in a report on Wednesday, April 29th. KeyCorp boosted their target price on Applied Industrial Technologies from $300.00 to $330.00 and gave the stock an "overweight" rating in a research report on Thursday, February 26th. Wall Street Zen lowered shares of Applied Industrial Technologies from a "buy" rating to a "hold" rating in a research report on Saturday, May 2nd. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Applied Industrial Technologies in a research note on Friday, April 24th. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $313.67.

Applied Industrial Technologies Stock Performance

AIT stock opened at $315.50 on Friday. The company has a quick ratio of 1.97, a current ratio of 2.95 and a debt-to-equity ratio of 0.19. The business's fifty day simple moving average is $295.69 and its two-hundred day simple moving average is $277.30. Applied Industrial Technologies, Inc. has a twelve month low of $223.13 and a twelve month high of $317.10. The firm has a market cap of $11.66 billion, a price-to-earnings ratio of 29.79, a PEG ratio of 2.99 and a beta of 0.84.

Applied Industrial Technologies (NYSE:AIT - Get Free Report) last released its 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 analyst estimates of $1.23 billion. During the same quarter last year, the firm posted $2.57 earnings per share. The business'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. Analysts predict that Applied Industrial Technologies, Inc. will post 10.7 earnings per share for the current year.

Applied Industrial Technologies Announces Dividend

The company 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 0.6%. The ex-dividend date was Friday, May 15th. Applied Industrial Technologies's dividend payout ratio (DPR) is presently 19.26%.

Insider Activity

In related news, VP Warren E. Hoffner III sold 8,000 shares of Applied Industrial Technologies stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $306.04, for a total transaction of $2,448,320.00. Following the completion of the transaction, the vice president directly owned 40,751 shares in the company, valued at approximately $12,471,436.04. This trade represents a 16.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.60% of the stock is currently owned by insiders.

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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