State of Wyoming Cuts Stock Position in Applied Industrial Technologies, Inc. $AIT

State of Wyoming lessened its stake in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 60.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 1,185 shares of the industrial products company’s stock after selling 1,786 shares during the quarter. State of Wyoming’s holdings in Applied Industrial Technologies were worth $304,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the stock. First Trust Advisors LP lifted its holdings in Applied Industrial Technologies by 22.7% in the third quarter. First Trust Advisors LP now owns 933,067 shares of the industrial products company’s stock valued at $243,577,000 after acquiring an additional 172,857 shares during the period. Distillate Capital Partners LLC acquired a new stake in Applied Industrial Technologies in the third quarter valued at $13,281,000. Citigroup Inc. lifted its holdings in Applied Industrial Technologies by 44.4% in the third quarter. Citigroup Inc. now owns 30,319 shares of the industrial products company’s stock valued at $7,915,000 after acquiring an additional 9,321 shares during the period. Westfield Capital Management Co. LP lifted its holdings in Applied Industrial Technologies by 6.4% in the third quarter. Westfield Capital Management Co. LP now owns 234,734 shares of the industrial products company’s stock valued at $61,277,000 after acquiring an additional 14,094 shares during the period. Finally, Barclays PLC boosted its holdings in Applied Industrial Technologies by 91.4% during the third quarter. Barclays PLC now owns 100,244 shares of the industrial products company’s stock worth $26,169,000 after buying an additional 47,868 shares in the last quarter. Hedge funds and other institutional investors own 93.52% of the company’s stock.

Insider Activity at Applied Industrial Technologies

In other news, VP Warren E. Hoffner III sold 8,000 shares of the business’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $306.04, for a total value 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. The trade was a 16.41% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.60% of the company’s stock.

Applied Industrial Technologies Trading Up 2.7%

Shares of AIT stock opened at $322.91 on Wednesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.97 and a current ratio of 2.95. Applied Industrial Technologies, Inc. has a 1 year low of $223.13 and a 1 year high of $324.34. The stock has a fifty day moving average of $298.02 and a two-hundred day moving average of $278.62. The firm has a market capitalization of $11.93 billion, a PE ratio of 30.49, a price-to-earnings-growth ratio of 3.00 and a beta of 0.84.

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

Applied Industrial Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 15th were paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Friday, May 15th. Applied Industrial Technologies’s payout ratio is currently 19.26%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Robert W. Baird set a $317.00 target price on shares of Applied Industrial Technologies in a research report on Wednesday, April 29th. Weiss Ratings reissued a “buy (b)” rating on shares of Applied Industrial Technologies in a research note on Friday, April 24th. Wall Street Zen cut Applied Industrial Technologies from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. KeyCorp lifted 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. Finally, Oppenheimer boosted their target price on Applied Industrial Technologies from $300.00 to $350.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 29th. Five investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $313.67.

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.