ArrowMark Colorado Holdings LLC Sells 2,748 Shares of Applied Industrial Technologies, Inc. $AIT

ArrowMark Colorado Holdings LLC trimmed its position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 1.4% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 195,393 shares of the industrial products company’s stock after selling 2,748 shares during the quarter. ArrowMark Colorado Holdings LLC owned about 0.52% of Applied Industrial Technologies worth $51,007,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Jones Financial Companies Lllp grew its position in shares of Applied Industrial Technologies by 3.3% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,410 shares of the industrial products company’s stock worth $369,000 after buying an additional 45 shares during the last quarter. Quadrant Capital Group LLC lifted its position in Applied Industrial Technologies by 1.1% during the third quarter. Quadrant Capital Group LLC now owns 4,631 shares of the industrial products company’s stock valued at $1,209,000 after acquiring an additional 51 shares during the last quarter. Farther Finance Advisors LLC lifted its position in Applied Industrial Technologies by 13.1% during the third quarter. Farther Finance Advisors LLC now owns 457 shares of the industrial products company’s stock valued at $119,000 after acquiring an additional 53 shares during the last quarter. Skandinaviska Enskilda Banken AB publ boosted its stake in Applied Industrial Technologies by 11.9% in the third quarter. Skandinaviska Enskilda Banken AB publ now owns 516 shares of the industrial products company’s stock valued at $135,000 after acquiring an additional 55 shares in the last quarter. Finally, Harfst & Associates Inc. boosted its stake in Applied Industrial Technologies by 0.6% in the third quarter. Harfst & Associates Inc. now owns 10,167 shares of the industrial products company’s stock valued at $2,654,000 after acquiring an additional 56 shares in the last quarter. 93.52% of the stock is currently owned by institutional investors.

Insider Activity at Applied Industrial Technologies

In other news, VP Warren E. Hoffner III sold 4,000 shares of the stock in a transaction dated 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 transaction, the vice president directly owned 52,751 shares of the company’s stock, valued at approximately $15,224,993.62. This 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 is accessible through the SEC website. Also, VP Jason W. Vasquez sold 5,447 shares of the stock in a transaction dated 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 completion of the transaction, the vice president directly owned 14,491 shares in the company, valued at $4,171,524.17. This represents a 27.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 28,654 shares of company stock valued at $8,212,829 in the last ninety days. Company insiders own 1.60% of the company’s stock.

Applied Industrial Technologies Stock Down 1.7%

AIT stock opened at $255.43 on Friday. The stock has a market capitalization of $9.53 billion, a PE ratio of 24.30, a price-to-earnings-growth ratio of 2.45 and a beta of 0.81. Applied Industrial Technologies, Inc. has a 52 week low of $199.96 and a 52 week high of $296.70. The company has a quick ratio of 2.56, a current ratio of 3.68 and a debt-to-equity ratio of 0.31. The firm has a 50 day moving average of $275.66 and a 200 day moving average of $264.16.

Applied Industrial Technologies (NYSE:AIT) last issued its quarterly earnings results on Tuesday, January 27th. The industrial products company reported $2.51 earnings per share (EPS) for the quarter, beating 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 for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.39 EPS. Applied Industrial Technologies has set its FY 2026 guidance at 10.450-10.750 EPS. Sell-side 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 announced a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Friday, February 13th were given a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Friday, February 13th. This is a positive change from Applied Industrial Technologies’s previous quarterly dividend of $0.46. Applied Industrial Technologies’s payout ratio is currently 19.41%.

Wall Street Analysts Forecast Growth

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

Applied Industrial Technologies 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.