Capital World Investors Acquires 13,171 Shares of Applied Industrial Technologies, Inc. $AIT

Capital World Investors lifted its holdings in Applied Industrial Technologies, Inc. (NYSE:AIT) by 4.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 335,619 shares of the industrial products company’s stock after acquiring an additional 13,171 shares during the period. Capital World Investors’ holdings in Applied Industrial Technologies were worth $87,613,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC increased its stake in Applied Industrial Technologies by 890.0% during the third quarter. Smartleaf Asset Management LLC now owns 99 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 89 shares during the last quarter. Root Financial Partners LLC purchased a new stake in Applied Industrial Technologies during 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 3rd quarter valued at approximately $29,000. First Horizon Corp bought a new position in shares of Applied Industrial Technologies during the 3rd quarter valued at approximately $47,000. Finally, Headlands Technologies LLC bought a new position in shares of Applied Industrial Technologies during the 2nd quarter valued at approximately $72,000. Hedge funds and other institutional investors own 93.52% of the company’s stock.

Insider Transactions at Applied Industrial Technologies

In other news, CEO Neil A. Schrimsher sold 19,207 shares of the stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $285.85, for a total transaction of $5,490,320.95. Following the transaction, the chief executive officer owned 130,528 shares of the company’s stock, valued at approximately $37,311,428.80. This represents a 12.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Jason W. Vasquez sold 5,447 shares of the firm’s stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $287.87, for a total value of $1,568,027.89. Following the transaction, the vice president owned 14,491 shares in the company, valued at approximately $4,171,524.17. This represents a 27.32% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 28,654 shares of company stock valued at $8,212,829. 1.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on AIT shares. Wall Street Zen upgraded Applied Industrial Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, February 28th. Weiss Ratings reiterated a “buy (b)” rating on shares of Applied Industrial Technologies in a research report on Monday, December 29th. Finally, KeyCorp raised their target price on shares of Applied Industrial Technologies from $300.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday, February 26th. Six 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 an average price target of $294.38.

Applied Industrial Technologies Price Performance

Shares of AIT stock opened at $260.57 on Friday. The company has a market capitalization of $9.72 billion, a P/E ratio of 24.79, a P/E/G ratio of 2.59 and a beta of 0.81. The company’s 50-day simple moving average is $275.74 and its two-hundred day simple moving average is $264.24. Applied Industrial Technologies, Inc. has a one year low of $199.96 and a one year high of $296.70. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.68 and a quick ratio of 2.56.

Applied Industrial Technologies (NYSE:AIT) last announced 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. Applied Industrial Technologies had a return on equity of 21.74% and a net margin of 8.49%.The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same quarter in the previous year, the business earned $2.39 earnings per share. Applied Industrial Technologies’s quarterly revenue was up 8.4% on a year-over-year basis. Applied Industrial Technologies has set its FY 2026 guidance at 10.450-10.750 EPS. As a group, equities analysts anticipate that Applied Industrial Technologies, Inc. will post 9.9 EPS for the current year.

Applied Industrial Technologies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Friday, February 13th were issued a $0.51 dividend. The ex-dividend date was Friday, February 13th. This represents a $2.04 annualized dividend and a dividend yield of 0.8%. This is a positive change from Applied Industrial Technologies’s previous quarterly dividend of $0.46. Applied Industrial Technologies’s dividend payout ratio (DPR) is currently 19.41%.

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.