Handelsbanken Fonder AB Increases Holdings in Applied Industrial Technologies, Inc. $AIT

Handelsbanken Fonder AB boosted its position in Applied Industrial Technologies, Inc. (NYSE:AIT) by 14.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 182,623 shares of the industrial products company’s stock after buying an additional 23,000 shares during the period. Handelsbanken Fonder AB owned approximately 0.48% of Applied Industrial Technologies worth $47,674,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of AIT. Smartleaf Asset Management LLC lifted its stake in 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 valued at $26,000 after acquiring an additional 89 shares during the period. Root Financial Partners LLC purchased a new position in shares of Applied Industrial Technologies during the third quarter worth $27,000. Abich Financial Wealth Management LLC acquired a new position in Applied Industrial Technologies during the third quarter valued at $29,000. Hantz Financial Services Inc. boosted its holdings in Applied Industrial Technologies by 2,033.3% in the second quarter. Hantz Financial Services Inc. now owns 128 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 122 shares during the last quarter. Finally, First Horizon Corp acquired a new stake in Applied Industrial Technologies during the 3rd quarter worth about $47,000. Institutional investors and hedge funds own 93.52% of the company’s stock.

Applied Industrial Technologies Stock Down 0.2%

Applied Industrial Technologies stock opened at $282.85 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.68 and a quick ratio of 2.56. The stock has a market capitalization of $10.55 billion, a PE ratio of 26.91, a price-to-earnings-growth ratio of 2.71 and a beta of 0.84. The business has a 50 day simple moving average of $273.98 and a 200-day simple moving average of $263.84. Applied Industrial Technologies, Inc. has a 12 month low of $199.96 and a 12 month high of $296.70.

Applied Industrial Technologies (NYSE:AIT) last released its quarterly earnings results on Tuesday, January 27th. The industrial products company reported $2.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.48 by $0.03. The firm had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.17 billion. Applied Industrial Technologies had a net margin of 8.49% and a return on equity of 21.74%. The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter last year, the company earned $2.39 EPS. Applied Industrial Technologies has set its FY 2026 guidance at 10.450-10.750 EPS. On average, analysts anticipate that Applied Industrial Technologies, Inc. will post 9.9 EPS for the current fiscal year.

Applied Industrial Technologies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Friday, February 13th were given a dividend of $0.51 per share. 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 dividend yield of 0.7%. Applied Industrial Technologies’s payout ratio is currently 19.41%.

Insider Buying and Selling

In related news, CEO Neil A. Schrimsher sold 19,207 shares of the firm’s stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $285.85, for a total value of $5,490,320.95. Following the transaction, the chief executive officer directly owned 130,528 shares of the company’s stock, valued at approximately $37,311,428.80. This trade represents a 12.83% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Jason W. Vasquez sold 5,447 shares of Applied Industrial Technologies stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $287.87, for a total value of $1,568,027.89. Following the completion of the sale, the vice president owned 14,491 shares in the company, valued at approximately $4,171,524.17. The trade was a 27.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 28,654 shares of company stock worth $8,212,829 in the last 90 days. Insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on AIT shares. KeyCorp boosted their price objective on Applied Industrial Technologies from $300.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday. Weiss Ratings reissued a “buy (b)” rating on shares of Applied Industrial Technologies in a report on Monday, December 29th. Finally, Wall Street Zen upgraded Applied Industrial Technologies from a “hold” rating to a “buy” rating in a research report on Saturday. Six investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $294.38.

Applied Industrial Technologies 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.