Regents Gate Capital LLP Trims Holdings in Applied Industrial Technologies, Inc. $AIT

Regents Gate Capital LLP decreased its holdings in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 36.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,153 shares of the industrial products company’s stock after selling 17,835 shares during the period. Applied Industrial Technologies accounts for about 2.9% of Regents Gate Capital LLP’s holdings, making the stock its 15th largest holding. Regents Gate Capital LLP owned about 0.08% of Applied Industrial Technologies worth $8,132,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Norges Bank bought a new position in shares of Applied Industrial Technologies during the second quarter valued at approximately $107,228,000. Royal London Asset Management Ltd. increased its position in Applied Industrial Technologies by 69.2% during the 2nd quarter. Royal London Asset Management Ltd. now owns 393,743 shares of the industrial products company’s stock valued at $91,526,000 after purchasing an additional 161,048 shares during the period. Goldman Sachs Group Inc. increased its position in Applied Industrial Technologies by 4.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 381,187 shares of the industrial products company’s stock valued at $85,897,000 after purchasing an additional 14,926 shares during the period. Bank of America Corp DE lifted its position in shares of Applied Industrial Technologies by 47.8% in the 2nd quarter. Bank of America Corp DE now owns 374,627 shares of the industrial products company’s stock worth $87,082,000 after purchasing an additional 121,163 shares during the period. Finally, Qube Research & Technologies Ltd purchased a new stake in shares of Applied Industrial Technologies in the 2nd quarter worth about $81,722,000. 93.52% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

AIT has been the subject of a number of research reports. KeyCorp increased their price target on shares of Applied Industrial Technologies from $300.00 to $330.00 and gave the stock an “overweight” rating in a research note on Thursday. Wall Street Zen raised Applied Industrial Technologies from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Applied Industrial Technologies in a research report on Monday, December 29th. Six equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $294.38.

Applied Industrial Technologies Price Performance

AIT stock opened at $282.85 on Monday. The firm has a 50 day moving average price of $273.98 and a 200-day moving average price of $263.71. Applied Industrial Technologies, Inc. has a 52-week low of $199.96 and a 52-week high of $296.70. The firm has a market capitalization of $10.55 billion, a price-to-earnings ratio of 26.91, a PEG ratio of 2.70 and a beta of 0.80. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.56 and a current ratio of 3.68.

Applied Industrial Technologies (NYSE:AIT) last posted its quarterly earnings results on Tuesday, January 27th. The industrial products company reported $2.51 earnings per share for the quarter, topping the consensus estimate of $2.48 by $0.03. The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.17 billion. Applied Industrial Technologies had a return on equity of 21.74% and a net margin of 8.49%.The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.39 EPS. Applied Industrial Technologies has set its FY 2026 guidance at 10.450-10.750 EPS. Equities research analysts forecast 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. Stockholders of record on Friday, February 13th were given a $0.51 dividend. The ex-dividend date of this dividend was Friday, February 13th. This represents a $2.04 annualized dividend and a dividend yield of 0.7%. This is a boost from Applied Industrial Technologies’s previous quarterly dividend of $0.46. Applied Industrial Technologies’s payout ratio is presently 19.41%.

Insider Buying and Selling

In other Applied Industrial Technologies news, CEO Neil A. Schrimsher sold 19,207 shares of Applied Industrial Technologies 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 completion of the transaction, the chief executive officer directly owned 130,528 shares of the company’s stock, valued at approximately $37,311,428.80. The trade was a 12.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Warren E. Hoffner III sold 4,000 shares of the stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $288.62, for a total transaction of $1,154,480.00. Following the sale, the vice president owned 52,751 shares in the company, valued at approximately $15,224,993.62. The trade was a 7.05% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 28,654 shares of company stock worth $8,212,829 in the last quarter. Corporate insiders own 1.60% of the company’s stock.

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.