Allianz Asset Management GmbH Sells 8,218 Shares of Applied Industrial Technologies, Inc. $AIT

Allianz Asset Management GmbH lowered its holdings in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 15.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 45,492 shares of the industrial products company’s stock after selling 8,218 shares during the quarter. Allianz Asset Management GmbH owned about 0.12% of Applied Industrial Technologies worth $11,876,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. Root Financial Partners LLC acquired a new position in Applied Industrial Technologies during the third quarter worth $27,000. Hantz Financial Services Inc. increased its holdings in shares of Applied Industrial Technologies by 2,033.3% during the 2nd quarter. Hantz Financial Services Inc. now owns 128 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 122 shares during the last quarter. First Horizon Corp bought a new position in shares of Applied Industrial Technologies in the 3rd quarter valued at approximately $47,000. Headlands Technologies LLC bought a new position in shares of Applied Industrial Technologies in the 2nd quarter valued at approximately $72,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new stake in Applied Industrial Technologies in the 2nd quarter worth approximately $81,000. Institutional investors and hedge funds own 93.52% of the company’s stock.

Applied Industrial Technologies Stock Up 1.8%

AIT opened at $292.27 on Monday. The business has a 50 day moving average of $267.30 and a 200-day moving average of $262.36. The stock has a market capitalization of $10.90 billion, a price-to-earnings ratio of 27.81, a P/E/G ratio of 2.97 and a beta of 0.84. The company has a current ratio of 3.68, a quick ratio of 2.56 and a debt-to-equity ratio of 0.31. Applied Industrial Technologies, Inc. has a 1-year low of $199.96 and a 1-year high of $295.26.

Applied Industrial Technologies (NYSE:AIT) last announced its earnings results on Tuesday, January 27th. The industrial products company reported $2.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.48 by $0.03. The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.17 billion. Applied Industrial Technologies had a net margin of 8.49% and a return on equity of 21.74%. Applied Industrial Technologies’s revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.39 earnings per share. Applied Industrial Technologies has set its FY 2026 guidance at 10.450-10.750 EPS. As a group, sell-side analysts anticipate that Applied Industrial Technologies, Inc. will post 9.9 earnings per share for the current year.

Applied Industrial Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 13th will be given a dividend of $0.51 per share. This is an increase from Applied Industrial Technologies’s previous quarterly dividend of $0.46. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Friday, February 13th. Applied Industrial Technologies’s dividend payout ratio (DPR) is currently 17.51%.

Wall Street Analyst Weigh In

Several equities analysts have commented on AIT shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Applied Industrial Technologies in a report on Monday, December 29th. Wall Street Zen cut shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. KeyCorp lowered their target price on shares of Applied Industrial Technologies from $310.00 to $300.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 28th. Finally, Mizuho set a $305.00 target price on shares of Applied Industrial Technologies in a report on Wednesday, October 29th. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Applied Industrial Technologies has an average rating of “Moderate Buy” and a consensus price target of $290.63.

Insider Activity at Applied Industrial Technologies

In related news, VP Jason W. Vasquez sold 5,447 shares of Applied Industrial Technologies stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $287.87, for a total transaction of $1,568,027.89. Following the sale, the vice president directly owned 14,491 shares of the company’s stock, valued at $4,171,524.17. This trade represents a 27.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Neil A. Schrimsher sold 19,207 shares of the business’s stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $285.85, for a total value of $5,490,320.95. Following the transaction, the chief executive officer owned 130,528 shares in the company, valued at $37,311,428.80. This represents a 12.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 28,654 shares of company stock worth $8,212,829. Company insiders own 1.60% of the company’s stock.

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.