Nordea Investment Management AB Has $44.81 Million Stock Holdings in Applied Industrial Technologies, Inc. $AIT

Nordea Investment Management AB decreased its stake in Applied Industrial Technologies, Inc. (NYSE:AIT) by 6.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 172,765 shares of the industrial products company’s stock after selling 12,407 shares during the period. Nordea Investment Management AB’s holdings in Applied Industrial Technologies were worth $44,805,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of AIT. Capital International Investors bought a new stake in Applied Industrial Technologies during the third quarter worth about $200,456,000. Norges Bank bought a new position in Applied Industrial Technologies in the second quarter valued at approximately $107,228,000. Qube Research & Technologies Ltd acquired a new position in shares of Applied Industrial Technologies during the 2nd quarter worth approximately $81,722,000. Squarepoint Ops LLC raised its stake in shares of Applied Industrial Technologies by 11,885.4% during the 2nd quarter. Squarepoint Ops LLC now owns 258,286 shares of the industrial products company’s stock worth $60,039,000 after purchasing an additional 256,131 shares in the last quarter. Finally, First Trust Advisors LP raised its stake in shares of Applied Industrial Technologies by 22.7% during the 3rd quarter. First Trust Advisors LP now owns 933,067 shares of the industrial products company’s stock worth $243,577,000 after purchasing an additional 172,857 shares in the last quarter. Institutional investors and hedge funds own 93.52% of the company’s stock.

Insiders Place Their Bets

In other Applied Industrial Technologies news, VP Jason W. Vasquez sold 5,447 shares of Applied Industrial Technologies stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $287.87, for a total transaction of $1,568,027.89. Following the completion of the transaction, the vice president directly owned 14,491 shares of the company’s stock, valued at $4,171,524.17. The trade was a 27.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Warren E. Hoffner III sold 4,000 shares of the company’s stock in a transaction 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 completion of the transaction, the vice president owned 52,751 shares in the company, valued at approximately $15,224,993.62. This represents a 7.05% 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 valued at $8,212,829 over the last ninety days. 1.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

AIT has been the subject of several recent analyst reports. Wall Street Zen downgraded Applied Industrial Technologies from a “buy” rating to a “hold” rating in a report on Saturday. Weiss Ratings restated a “buy (b)” rating on shares of Applied Industrial Technologies in a report on Monday, December 29th. Finally, KeyCorp upped 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 report on Thursday, February 26th. Six analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $294.38.

Applied Industrial Technologies Price Performance

Shares of NYSE AIT opened at $262.98 on Tuesday. The company has a quick ratio of 2.56, a current ratio of 3.68 and a debt-to-equity ratio of 0.31. The business’s 50 day moving average price is $274.68 and its two-hundred day moving average price is $263.89. The company has a market cap of $9.81 billion, a PE ratio of 25.02, a price-to-earnings-growth ratio of 2.43 and a beta of 0.80. Applied Industrial Technologies, Inc. has a twelve month low of $199.96 and a twelve month high of $296.70.

Applied Industrial Technologies (NYSE:AIT) last released its quarterly earnings data 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 company had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same period last year, the firm posted $2.39 earnings per share. The business’s 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. On average, analysts predict that Applied Industrial Technologies, Inc. will post 9.9 EPS for the current year.

Applied Industrial Technologies Increases Dividend

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