Hillsdale Investment Management Inc. Makes New $3.54 Million Investment in Applied Industrial Technologies, Inc. $AIT

Hillsdale Investment Management Inc. acquired a new position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 13,800 shares of the industrial products company’s stock, valued at approximately $3,543,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Torren Management LLC purchased a new position in shares of Applied Industrial Technologies in the 4th quarter worth approximately $25,000. Smartleaf Asset Management LLC boosted its stake in shares of Applied Industrial Technologies by 890.0% in the 3rd quarter. Smartleaf Asset Management LLC now owns 99 shares of the industrial products company’s stock worth $26,000 after buying an additional 89 shares during the last quarter. Abich Financial Wealth Management LLC purchased a new position in shares of Applied Industrial Technologies in the 3rd quarter worth approximately $29,000. V Square Quantitative Management LLC purchased a new position in shares of Applied Industrial Technologies in the 4th quarter worth approximately $34,000. Finally, Allworth Financial LP boosted its stake in shares of Applied Industrial Technologies by 446.4% in the 3rd quarter. Allworth Financial LP now owns 153 shares of the industrial products company’s stock worth $40,000 after buying an additional 125 shares during the last quarter. 93.52% of the stock is owned by institutional investors.

Applied Industrial Technologies Trading Up 0.1%

NYSE:AIT opened at $304.00 on Monday. The company has a market cap of $11.24 billion, a P/E ratio of 28.71, a P/E/G ratio of 2.89 and a beta of 0.84. The stock’s fifty day moving average price is $290.72 and its two-hundred day moving average price is $275.45. Applied Industrial Technologies, Inc. has a 1 year low of $221.52 and a 1 year high of $317.10. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.95 and a quick ratio of 1.97.

Applied Industrial Technologies (NYSE:AIT) last posted its earnings results on Tuesday, April 28th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.63 by $0.02. The firm 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%.The business’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $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. As a group, analysts expect that Applied Industrial Technologies, Inc. will post 10.7 EPS for the current year.

Applied Industrial Technologies Dividend Announcement

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

Insider Transactions at Applied Industrial Technologies

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 completion of 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

AIT has been the topic of a number of research analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of Applied Industrial Technologies in a research note on Friday, April 24th. Wall Street Zen downgraded Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. KeyCorp boosted their target price on Applied Industrial Technologies from $300.00 to $330.00 and gave the stock an “overweight” rating in a research note on Thursday, February 26th. Robert W. Baird set a $317.00 target price on Applied Industrial Technologies in a research note on Wednesday, April 29th. 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 note on Wednesday, April 29th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Applied Industrial Technologies currently has an average 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.