Applied Industrial Technologies, Inc. $AIT Shares Bought by Citigroup Inc.

Citigroup Inc. lifted its holdings in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 44.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 30,319 shares of the industrial products company’s stock after acquiring an additional 9,321 shares during the quarter. Citigroup Inc. owned 0.08% of Applied Industrial Technologies worth $7,915,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AIT. Smartleaf Asset Management LLC grew its stake in Applied Industrial Technologies by 890.0% during 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 in the last quarter. Root Financial Partners LLC purchased a new position in shares of Applied Industrial Technologies during the 3rd quarter valued at approximately $27,000. Abich Financial Wealth Management LLC acquired a new stake in shares of Applied Industrial Technologies during the third quarter worth approximately $29,000. Hantz Financial Services Inc. increased its stake in shares of Applied Industrial Technologies by 2,033.3% in the second quarter. Hantz Financial Services Inc. now owns 128 shares of the industrial products company’s stock worth $30,000 after buying an additional 122 shares during the last quarter. Finally, First Horizon Corp acquired a new stake in Applied Industrial Technologies in the third quarter valued at $47,000. Hedge funds and other institutional investors own 93.52% of the company’s stock.

Insider Buying and Selling

In other Applied Industrial Technologies news, VP Warren E. Hoffner III sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $288.62, for a total value of $1,154,480.00. Following the sale, the vice president owned 52,751 shares in the company, valued at approximately $15,224,993.62. This trade represents a 7.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Jason W. Vasquez sold 5,447 shares of Applied Industrial Technologies stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $287.87, for a total value of $1,568,027.89. Following the sale, the vice president directly owned 14,491 shares in the company, valued at approximately $4,171,524.17. This trade represents a 27.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 28,654 shares of company stock valued at $8,212,829 in the last quarter. Company insiders own 1.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on AIT. KeyCorp increased their price objective on shares of Applied Industrial Technologies from $300.00 to $330.00 and gave the company an “overweight” rating in a research note on Thursday. Wall Street Zen raised shares of Applied Industrial Technologies from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Applied Industrial Technologies in a research note on Monday, December 29th. Six equities research 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.com, Applied Industrial Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $294.38.

Applied Industrial Technologies Stock Down 0.2%

Shares of Applied Industrial Technologies stock opened at $282.85 on Monday. The stock has a market capitalization of $10.55 billion, a price-to-earnings ratio of 26.91, a PEG ratio of 2.70 and a beta of 0.80. Applied Industrial Technologies, Inc. has a twelve month low of $199.96 and a twelve month high of $296.70. The company has a current ratio of 3.68, a quick ratio of 2.56 and a debt-to-equity ratio of 0.31. The business’s 50 day simple moving average is $273.98 and its 200-day simple moving average is $263.71.

Applied Industrial Technologies (NYSE:AIT) last issued its quarterly earnings data 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 firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same period in the prior year, the business earned $2.39 EPS. The firm’s revenue was up 8.4% on a year-over-year basis. Applied Industrial Technologies has set its FY 2026 guidance at 10.450-10.750 EPS. Equities research analysts forecast that Applied Industrial Technologies, Inc. will post 9.9 earnings per share for the current year.

Applied Industrial Technologies Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Friday, February 13th were 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 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Friday, February 13th. Applied Industrial Technologies’s payout ratio is currently 19.41%.

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.