Bessemer Group Inc. Has $31.38 Million Stock Holdings in Applied Industrial Technologies, Inc. $AIT

Bessemer Group Inc. decreased its position in Applied Industrial Technologies, Inc. (NYSE:AIT) by 6.9% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 118,275 shares of the industrial products company’s stock after selling 8,790 shares during the period. Bessemer Group Inc. owned about 0.32% of Applied Industrial Technologies worth $31,382,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Goldman Sachs Group Inc. lifted 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 worth $85,897,000 after purchasing an additional 14,926 shares in the last quarter. Empowered Funds LLC acquired a new position in Applied Industrial Technologies during the first quarter worth $318,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Applied Industrial Technologies by 12.4% in 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 valued at $22,162,000 after purchasing an additional 10,863 shares in the last quarter. Focus Partners Wealth grew its position in Applied Industrial Technologies by 4.5% in the first 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. Finally, M&T Bank Corp acquired a new stake in Applied Industrial Technologies in the 2nd quarter valued at $217,000. Institutional investors and hedge funds own 93.52% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on AIT shares. DA Davidson initiated coverage on shares of Applied Industrial Technologies in a research report on Tuesday, June 16th. They set a “buy” rating and a $380.00 price target on the stock. Oppenheimer raised their target price on shares of Applied Industrial Technologies from $300.00 to $350.00 and gave the company an “outperform” rating in a research note on Wednesday, April 29th. Wall Street Zen downgraded shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Applied Industrial Technologies in a research report on Friday, April 24th. Finally, KeyCorp upped their price target on shares of Applied Industrial Technologies from $350.00 to $375.00 and gave the stock an “overweight” rating in a research report on Monday, July 13th. 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 MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $329.57.

Applied Industrial Technologies Price Performance

Shares of NYSE AIT opened at $336.35 on Friday. The company has a quick ratio of 1.97, a current ratio of 2.95 and a debt-to-equity ratio of 0.19. The business’s 50 day moving average price is $320.78 and its two-hundred day moving average price is $292.32. The company has a market cap of $12.43 billion, a PE ratio of 31.76, a price-to-earnings-growth ratio of 2.91 and a beta of 0.83. Applied Industrial Technologies, Inc. has a twelve month low of $238.34 and a twelve month high of $345.48.

Applied Industrial Technologies (NYSE:AIT) last released its quarterly earnings data on Tuesday, April 28th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.63 by $0.02. Applied Industrial Technologies had a return on equity of 21.64% and a net margin of 8.34%.The company had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.23 billion. During the same period last year, the firm posted $2.57 earnings per share. The business’s revenue was up 7.3% on a year-over-year basis. Applied Industrial Technologies has set its Q4 2026 guidance at 2.850-2.960 EPS and its FY 2026 guidance at 10.640-10.750 EPS. On average, analysts predict that Applied Industrial Technologies, Inc. will post 10.71 EPS for the current year.

Applied Industrial Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Friday, August 14th will be issued a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $2.04 annualized dividend and a yield of 0.6%. Applied Industrial Technologies’s dividend payout ratio (DPR) is currently 19.26%.

Insider Buying and Selling at Applied Industrial Technologies

In other Applied Industrial Technologies news, Director Madhuri A. Andrews sold 3,845 shares of Applied Industrial Technologies stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $329.89, for a total transaction of $1,268,427.05. Following the completion of the transaction, the director directly owned 4,951 shares of the company’s stock, valued at $1,633,285.39. The trade was a 43.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Warren E. Hoffner III sold 8,000 shares of the company’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $306.04, for a total transaction of $2,448,320.00. Following the completion of the transaction, the vice president owned 40,751 shares in the company, valued at approximately $12,471,436.04. This represents a 16.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company 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.