TimesSquare Capital Management LLC Purchases 23,941 Shares of Applied Industrial Technologies, Inc. $AIT

TimesSquare Capital Management LLC increased its position in Applied Industrial Technologies, Inc. (NYSE:AIT) by 24.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 120,716 shares of the industrial products company’s stock after acquiring an additional 23,941 shares during the period. TimesSquare Capital Management LLC’s holdings in Applied Industrial Technologies were worth $30,996,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. US Asset Management LLC grew its holdings in shares of 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 worth $325,000 after acquiring an additional 41 shares during the period. Jones Financial Companies Lllp grew its holdings in shares of 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 worth $369,000 after acquiring an additional 45 shares during the period. Northwestern Mutual Wealth Management Co. grew its holdings in shares of 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 worth $170,000 after acquiring an additional 45 shares during the period. Quadrant Capital Group LLC grew its holdings in shares of 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 worth $1,209,000 after acquiring an additional 51 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ grew its holdings in shares of Applied Industrial Technologies by 11.9% in the third quarter. Skandinaviska Enskilda Banken AB publ now owns 516 shares of the industrial products company’s stock worth $135,000 after acquiring an additional 55 shares during the period. Institutional investors own 93.52% of the company’s stock.

Insiders Place Their Bets

In related news, VP Warren E. Hoffner III sold 8,000 shares of Applied Industrial Technologies 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 transaction, the vice president directly owned 40,751 shares in the company, valued at approximately $12,471,436.04. The trade was a 16.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.60% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Applied Industrial Technologies Price Performance

NYSE AIT opened at $304.83 on Tuesday. The company has a market capitalization of $11.27 billion, a PE ratio of 28.78, a price-to-earnings-growth ratio of 2.93 and a beta of 0.86. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.97 and a current ratio of 2.95. The business’s fifty day moving average is $282.64 and its 200 day moving average is $272.25. Applied Industrial Technologies, Inc. has a fifty-two week low of $218.48 and a fifty-two week high of $317.10.

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

Applied Industrial Technologies Announces Dividend

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

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.