Applied Industrial Technologies, Inc. $AIT Shares Sold by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd cut its position in Applied Industrial Technologies, Inc. (NYSE:AIT) by 61.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,534 shares of the industrial products company’s stock after selling 8,848 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Applied Industrial Technologies were worth $1,468,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Capital International Investors increased its holdings in Applied Industrial Technologies by 25.4% in the fourth quarter. Capital International Investors now owns 962,925 shares of the industrial products company’s stock valued at $247,250,000 after buying an additional 195,043 shares during the last quarter. Wellington Management Group LLP lifted its holdings in Applied Industrial Technologies by 0.9% during the 4th quarter. Wellington Management Group LLP now owns 776,394 shares of the industrial products company’s stock worth $199,355,000 after buying an additional 6,953 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Applied Industrial Technologies by 0.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 723,700 shares of the industrial products company’s stock worth $185,833,000 after acquiring an additional 3,348 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Applied Industrial Technologies by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 687,161 shares of the industrial products company’s stock worth $176,479,000 after acquiring an additional 1,889 shares in the last quarter. Finally, Corient Private Wealth LLC increased its holdings in shares of Applied Industrial Technologies by 22,451.0% in the 4th quarter. Corient Private Wealth LLC now owns 585,423 shares of the industrial products company’s stock valued at $150,319,000 after acquiring an additional 582,827 shares during the last quarter. 93.52% of the stock is currently owned by institutional investors and hedge funds.

Applied Industrial Technologies Stock Performance

Shares of AIT traded up $7.86 during midday trading on Friday, reaching $330.35. 281,663 shares of the stock were exchanged, compared to its average volume of 302,574. 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 company has a market capitalization of $12.21 billion, a price-to-earnings ratio of 31.19, a PEG ratio of 2.79 and a beta of 0.83. The business’s 50-day moving average price is $318.64 and its 200 day moving average price is $289.99. Applied Industrial Technologies, Inc. has a twelve month low of $238.34 and a twelve month high of $345.48.

Applied Industrial Technologies (NYSE:AIT) last announced its earnings results on Tuesday, April 28th. The industrial products company reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.63 by $0.02. The business had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.23 billion. Applied Industrial Technologies had a net margin of 8.34% and a return on equity of 21.64%. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the firm 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. On average, sell-side analysts expect that Applied Industrial Technologies, Inc. will post 10.71 EPS for the current fiscal year.

Applied Industrial Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Friday, August 14th will be issued a $0.51 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.6%. Applied Industrial Technologies’s payout ratio is presently 19.26%.

Insider Activity at Applied Industrial Technologies

In other news, Director Madhuri A. Andrews sold 3,845 shares of the company’s stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $329.89, for a total transaction of $1,268,427.05. Following the completion of the sale, the director owned 4,951 shares in the company, valued at $1,633,285.39. This represents a 43.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Warren E. Hoffner III sold 8,000 shares of the stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $306.04, for a total value of $2,448,320.00. Following the sale, the vice president directly owned 40,751 shares of the company’s stock, valued at approximately $12,471,436.04. This represents a 16.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

AIT has been the subject of several recent analyst reports. 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. Weiss Ratings reiterated a “buy (b)” rating on shares of Applied Industrial Technologies in a research note on Friday, April 24th. Wall Street Zen cut shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Robert W. Baird set a $317.00 price objective on shares of Applied Industrial Technologies in a research report on Wednesday, April 29th. Finally, DA Davidson assumed coverage on shares of Applied Industrial Technologies in a report on Tuesday, June 16th. They issued a “buy” rating and a $380.00 target price for the company. Six investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $323.14.

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.