Applied Industrial Technologies, Inc. $AIT Shares Bought by Westfield Capital Management Co. LP

Westfield Capital Management Co. LP boosted its stake in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 21.5% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 285,290 shares of the industrial products company’s stock after purchasing an additional 50,556 shares during the quarter. Westfield Capital Management Co. LP’s holdings in Applied Industrial Technologies were worth $73,254,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of AIT. Torren Management LLC acquired a new position in shares of Applied Industrial Technologies in the 4th quarter valued at $25,000. Smartleaf Asset Management LLC lifted 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 valued at $26,000 after purchasing an additional 89 shares during the last quarter. Abich Financial Wealth Management LLC acquired a new position in shares of Applied Industrial Technologies in the 3rd quarter valued at $29,000. V Square Quantitative Management LLC acquired a new position in shares of Applied Industrial Technologies in the 4th quarter valued at $34,000. Finally, Allworth Financial LP lifted 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 valued at $40,000 after purchasing an additional 125 shares during the last quarter. Institutional investors and hedge funds own 93.52% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other Applied Industrial Technologies news, VP Warren E. Hoffner III sold 8,000 shares of the company’s stock in a transaction dated 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 in the company, valued at $12,471,436.04. This represents a 16.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.60% of the stock is currently owned by company insiders.

Applied Industrial Technologies Price Performance

AIT stock opened at $315.50 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 company has a market capitalization of $11.66 billion, a PE ratio of 29.79, a P/E/G ratio of 2.99 and a beta of 0.84. Applied Industrial Technologies, Inc. has a 12-month low of $223.13 and a 12-month high of $317.10. The business’s fifty day moving average price is $295.69 and its 200 day moving average price is $277.30.

Applied Industrial Technologies (NYSE:AIT) last posted its quarterly earnings data 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 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 company’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the business 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. On average, sell-side analysts anticipate that Applied Industrial Technologies, Inc. will post 10.7 EPS for the current year.

Applied Industrial Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were issued a dividend of $0.51 per share. The ex-dividend date was Friday, May 15th. This represents a $2.04 annualized dividend and a yield of 0.6%. Applied Industrial Technologies’s dividend payout ratio is 19.26%.

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.