American Century Companies Inc. Reduces Stock Position in Applied Industrial Technologies, Inc. $AIT

American Century Companies Inc. lessened its holdings in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 6.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 194,438 shares of the industrial products company’s stock after selling 13,530 shares during the period. American Century Companies Inc. owned about 0.52% of Applied Industrial Technologies worth $50,759,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of AIT. Jones Financial Companies Lllp increased its stake in shares of Applied Industrial Technologies by 3.3% during the third quarter. Jones Financial Companies Lllp now owns 1,410 shares of the industrial products company’s stock valued at $369,000 after buying an additional 45 shares during the period. Farther Finance Advisors LLC increased its position in Applied Industrial Technologies by 13.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 457 shares of the industrial products company’s stock valued at $119,000 after purchasing an additional 53 shares during the period. Skandinaviska Enskilda Banken AB publ raised its holdings in Applied Industrial Technologies by 11.9% in the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 516 shares of the industrial products company’s stock worth $135,000 after purchasing an additional 55 shares in the last quarter. Harfst & Associates Inc. lifted its position in shares of Applied Industrial Technologies by 0.6% in the 3rd quarter. Harfst & Associates Inc. now owns 10,167 shares of the industrial products company’s stock worth $2,654,000 after purchasing an additional 56 shares during the period. Finally, Focus Partners Wealth boosted its stake 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 valued at $302,000 after purchasing an additional 58 shares in the last quarter. Hedge funds and other institutional investors own 93.52% of the company’s stock.

Applied Industrial Technologies Stock Performance

Shares of AIT opened at $274.39 on Friday. The company has a market cap of $10.23 billion, a price-to-earnings ratio of 26.11, a P/E/G ratio of 2.68 and a beta of 0.81. The business’s fifty day simple moving average is $275.19 and its two-hundred day simple moving average is $264.12. Applied Industrial Technologies, Inc. has a 12 month low of $199.96 and a 12 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.

Applied Industrial Technologies (NYSE:AIT) last released its quarterly earnings data on Tuesday, January 27th. The industrial products company reported $2.51 EPS for the quarter, topping the consensus estimate of $2.48 by $0.03. The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.17 billion. Applied Industrial Technologies had a return on equity of 21.74% and a net margin of 8.49%.Applied Industrial Technologies’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period last year, the company earned $2.39 EPS. Applied Industrial Technologies has set its FY 2026 guidance at 10.450-10.750 EPS. Research analysts anticipate that Applied Industrial Technologies, Inc. will post 9.9 earnings per share for the current fiscal year.

Applied Industrial Technologies Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Friday, February 13th were given a $0.51 dividend. This is a boost from Applied Industrial Technologies’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Friday, February 13th. This represents a $2.04 dividend on an annualized basis and a yield of 0.7%. Applied Industrial Technologies’s payout ratio is presently 19.41%.

Wall Street Analyst Weigh In

AIT has been the subject of several research reports. Weiss Ratings reissued a “buy (b)” rating on shares of Applied Industrial Technologies in a research report on Monday, December 29th. Wall Street Zen raised Applied Industrial Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, February 28th. Finally, KeyCorp boosted their target price on shares of Applied Industrial Technologies from $300.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, February 26th. Six analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Applied Industrial Technologies has a consensus rating of “Moderate Buy” and a consensus target price of $294.38.

Insider Buying and Selling at Applied Industrial Technologies

In other Applied Industrial Technologies news, CEO Neil A. Schrimsher sold 19,207 shares of the stock in a transaction dated Wednesday, February 4th. The stock was 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 of the company’s stock, valued at approximately $37,311,428.80. This represents a 12.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Jason W. Vasquez sold 5,447 shares of the firm’s stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $287.87, for a total value of $1,568,027.89. Following the completion of the transaction, the vice president directly owned 14,491 shares in the company, valued at $4,171,524.17. The trade was a 27.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 28,654 shares of company stock worth $8,212,829. Insiders own 1.60% of the company’s stock.

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.