Insider Selling: Applied Industrial Technologies (NYSE:AIT) VP Sells $1,154,480.00 in Stock

Applied Industrial Technologies, Inc. (NYSE:AIT) VP Warren Hoffner III sold 4,000 shares of the stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $288.62, for a total value of $1,154,480.00. Following the completion of the sale, the vice president owned 52,751 shares of the company’s stock, valued at $15,224,993.62. The trade was a 7.05% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Applied Industrial Technologies Stock Performance

NYSE AIT opened at $292.27 on Monday. The company has a quick ratio of 2.56, a current ratio of 3.68 and a debt-to-equity ratio of 0.31. Applied Industrial Technologies, Inc. has a twelve month low of $199.96 and a twelve month high of $295.26. The business has a 50-day moving average price of $267.30 and a 200-day moving average price of $262.36. The firm has a market cap of $10.90 billion, a price-to-earnings ratio of 27.81, a price-to-earnings-growth ratio of 2.97 and a beta of 0.84.

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

Applied Industrial Technologies Increases Dividend

The business also recently announced 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 represents a $2.04 dividend on an annualized basis and a dividend yield of 0.7%. This is a boost from Applied Industrial Technologies’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Friday, February 13th. Applied Industrial Technologies’s dividend payout ratio is 17.51%.

Wall Street Analysts Forecast Growth

AIT has been the topic of several research analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of Applied Industrial Technologies in a research note on Monday, December 29th. Wall Street Zen downgraded Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. KeyCorp reduced their price objective on Applied Industrial Technologies from $310.00 to $300.00 and set an “overweight” rating for the company in a research note on Wednesday, January 28th. Finally, Mizuho set a $305.00 price objective on shares of Applied Industrial Technologies in a research report on Wednesday, October 29th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $290.63.

Institutional Investors Weigh In On Applied Industrial Technologies

Several institutional investors have recently made changes to their positions in AIT. Goldman Sachs Group Inc. increased its position in shares of Applied Industrial Technologies by 4.1% in the first quarter. Goldman Sachs Group Inc. now owns 381,187 shares of the industrial products company’s stock valued at $85,897,000 after buying an additional 14,926 shares in the last quarter. Empowered Funds LLC acquired a new stake in Applied Industrial Technologies during the first quarter worth approximately $318,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Applied Industrial Technologies by 12.4% during the first 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 purchasing an additional 10,863 shares during the last quarter. Focus Partners Wealth boosted its stake in Applied Industrial Technologies by 4.5% in 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, Truist Financial Corp boosted its position in shares of Applied Industrial Technologies by 216.8% in the second quarter. Truist Financial Corp now owns 11,148 shares of the industrial products company’s stock worth $2,591,000 after acquiring an additional 7,629 shares during the last quarter. 93.52% of the stock is currently owned by hedge funds and other institutional investors.

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.