Kingsview Wealth Management LLC Trims Stock Holdings in Applied Industrial Technologies, Inc. $AIT

Kingsview Wealth Management LLC trimmed its holdings in Applied Industrial Technologies, Inc. (NYSE:AIT) by 55.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,135 shares of the industrial products company’s stock after selling 12,702 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Applied Industrial Technologies were worth $2,602,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. First Trust Advisors LP increased its holdings in 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 during the period. Wellington Management Group LLP increased its holdings in Applied Industrial Technologies by 24.7% during the 3rd quarter. Wellington Management Group LLP now owns 769,441 shares of the industrial products company’s stock worth $200,863,000 after purchasing an additional 152,197 shares during the period. Capital International Investors purchased a new position in Applied Industrial Technologies during the 3rd quarter worth $200,456,000. Dimensional Fund Advisors LP increased its holdings in Applied Industrial Technologies by 1.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 720,352 shares of the industrial products company’s stock worth $188,040,000 after purchasing an additional 10,408 shares during the period. Finally, Geode Capital Management LLC increased its holdings in Applied Industrial Technologies by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 687,161 shares of the industrial products company’s stock worth $176,479,000 after purchasing an additional 1,889 shares during the period. 93.52% of the stock is currently owned by hedge funds and other institutional investors.

Applied Industrial Technologies Stock Down 1.5%

Shares of NYSE AIT opened at $304.00 on Friday. The company has a current ratio of 2.95, a quick ratio of 1.97 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $11.24 billion, a PE ratio of 28.71, a price-to-earnings-growth ratio of 2.89 and a beta of 0.86. The stock’s fifty day simple moving average is $290.72 and its two-hundred day simple moving average is $275.34. Applied Industrial Technologies, Inc. has a 12-month low of $221.52 and a 12-month high of $317.10.

Applied Industrial Technologies (NYSE:AIT) last announced its earnings results on Tuesday, April 28th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.63 by $0.02. The business had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.23 billion. Applied Industrial Technologies had a return on equity of 21.64% and a net margin of 8.34%.The business’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter last year, the firm earned $2.57 EPS. 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. As a group, analysts expect that Applied Industrial Technologies, Inc. will post 10.7 EPS for the current fiscal year.

Applied Industrial Technologies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Friday, May 15th. Applied Industrial Technologies’s dividend payout ratio (DPR) is 19.26%.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Applied Industrial Technologies

In other Applied Industrial Technologies news, VP Warren E. Hoffner III sold 8,000 shares of the stock in a transaction 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 sale, the vice president owned 40,751 shares of the company’s stock, valued at approximately $12,471,436.04. This trade represents a 16.41% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.60% of the company’s stock.

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.