VELA Investment Management LLC Cuts Position in Applied Industrial Technologies, Inc. $AIT

VELA Investment Management LLC decreased its holdings in Applied Industrial Technologies, Inc. (NYSE:AIT) by 18.8% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 20,734 shares of the industrial products company’s stock after selling 4,808 shares during the period. Applied Industrial Technologies makes up about 1.3% of VELA Investment Management LLC’s investment portfolio, making the stock its 16th largest position. VELA Investment Management LLC’s holdings in Applied Industrial Technologies were worth $5,324,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. US Asset Management LLC raised its holdings in Applied Industrial Technologies by 3.3% in the fourth quarter. US Asset Management LLC now owns 1,266 shares of the industrial products company’s stock valued at $325,000 after buying an additional 41 shares during the period. Jones Financial Companies Lllp raised its holdings in Applied Industrial Technologies by 3.3% in the third quarter. Jones Financial Companies Lllp now owns 1,410 shares of the industrial products company’s stock valued at $369,000 after buying an additional 45 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings in Applied Industrial Technologies by 7.4% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 653 shares of the industrial products company’s stock valued at $170,000 after buying an additional 45 shares during the period. Quadrant Capital Group LLC raised its holdings in Applied Industrial Technologies by 1.1% in the third quarter. Quadrant Capital Group LLC now owns 4,631 shares of the industrial products company’s stock valued at $1,209,000 after buying an additional 51 shares during the period. Finally, Farther Finance Advisors LLC raised its holdings in Applied Industrial Technologies by 13.1% in the third quarter. Farther Finance Advisors LLC now owns 457 shares of the industrial products company’s stock valued at $119,000 after buying an additional 53 shares during the period. Hedge funds and other institutional investors own 93.52% of the company’s stock.

Applied Industrial Technologies Trading Down 0.9%

NYSE AIT opened at $302.85 on Friday. The company’s fifty day simple moving average is $276.67 and its 200-day simple moving average is $268.19. Applied Industrial Technologies, Inc. has a 52 week low of $213.78 and a 52 week high of $309.67. The company has a current ratio of 2.95, a quick ratio of 2.56 and a debt-to-equity ratio of 0.19. The stock has a market cap of $11.19 billion, a P/E ratio of 28.60, a PEG ratio of 2.89 and a beta of 0.86.

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

Applied Industrial Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Friday, May 15th will be paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Friday, May 15th. Applied Industrial Technologies’s payout ratio is 19.26%.

Analyst Upgrades and Downgrades

Several research firms recently commented on AIT. KeyCorp raised their price target on shares of Applied Industrial Technologies from $300.00 to $330.00 and gave the company 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. Wall Street Zen lowered shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research note on Saturday. Oppenheimer boosted their target price on shares of Applied Industrial Technologies from $300.00 to $350.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, Robert W. Baird set a $317.00 target price on shares of Applied Industrial Technologies in a research report on Wednesday. Five equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, Applied Industrial Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $313.67.

Insider Buying and Selling

In related news, CEO Neil A. Schrimsher sold 19,207 shares of Applied Industrial Technologies stock in a transaction on 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 sale, the chief executive officer owned 130,528 shares in the company, 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 Jason W. Vasquez sold 5,447 shares of Applied Industrial Technologies stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $287.87, for a total transaction of $1,568,027.89. Following the completion of the sale, the vice president owned 14,491 shares of the company’s stock, valued at approximately $4,171,524.17. This trade represents a 27.32% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 28,654 shares of company stock worth $8,212,829. 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.