Applied Industrial Technologies, Inc. $AIT Shares Bought by L2 Asset Management LLC

L2 Asset Management LLC raised its holdings in Applied Industrial Technologies, Inc. (NYSE:AIT) by 119.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 2,858 shares of the industrial products company’s stock after acquiring an additional 1,553 shares during the period. L2 Asset Management LLC’s holdings in Applied Industrial Technologies were worth $734,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of AIT. Goldman Sachs Group Inc. raised its holdings in Applied Industrial Technologies by 4.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 381,187 shares of the industrial products company’s stock valued at $85,897,000 after acquiring an additional 14,926 shares during the last quarter. Empowered Funds LLC acquired a new stake in shares of Applied Industrial Technologies during the 1st quarter worth $318,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Applied Industrial Technologies by 12.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 98,348 shares of the industrial products company’s stock worth $22,162,000 after buying an additional 10,863 shares during the last quarter. Focus Partners Wealth increased its holdings in shares of Applied Industrial Technologies by 4.5% during the 1st quarter. Focus Partners Wealth now owns 1,341 shares of the industrial products company’s stock worth $302,000 after buying an additional 58 shares during the last quarter. Finally, M&T Bank Corp acquired a new stake in shares of Applied Industrial Technologies during the 2nd quarter worth $217,000. 93.52% of the stock is currently owned by institutional investors and hedge funds.

Applied Industrial Technologies Stock Performance

NYSE:AIT opened at $323.86 on Wednesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.95 and a quick ratio of 1.97. The firm has a 50-day moving average of $303.37 and a two-hundred day moving average of $281.01. The stock has a market cap of $11.97 billion, a P/E ratio of 30.58, a PEG ratio of 3.01 and a beta of 0.84. Applied Industrial Technologies, Inc. has a 1-year low of $223.13 and a 1-year high of $327.00.

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 for the quarter, beating analysts’ consensus estimates of $2.63 by $0.02. The company had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.23 billion. Applied Industrial Technologies had a net margin of 8.34% and a return on equity of 21.64%. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the prior year, the company posted $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, research analysts expect that Applied Industrial Technologies, Inc. will post 10.7 earnings per share for the current fiscal year.

Applied Industrial Technologies Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. DA Davidson assumed coverage on Applied Industrial Technologies in a report on Tuesday. They set a “buy” rating and a $380.00 price objective for the company. Oppenheimer upped 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. KeyCorp upped 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. Weiss Ratings restated a “buy (b)” rating on shares of Applied Industrial Technologies in a report on Friday, April 24th. Finally, Robert W. Baird set a $317.00 price objective on Applied Industrial Technologies in a report on Wednesday, April 29th. Six analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Applied Industrial Technologies presently has an average rating of “Moderate Buy” and an average price target of $323.14.

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 shares were sold at an average price of $306.04, for a total value of $2,448,320.00. Following the completion of the transaction, the vice president directly owned 40,751 shares of the company’s stock, valued at $12,471,436.04. This represents a 16.41% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.60% of the stock is currently owned by insiders.

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.