Chicago Partners Investment Group LLC Takes $520,000 Position in Applied Industrial Technologies, Inc. $AIT

Chicago Partners Investment Group LLC purchased a new stake in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 1,793 shares of the industrial products company’s stock, valued at approximately $520,000.

Other large investors have also recently bought and sold shares of the company. Goldman Sachs Group Inc. grew its stake in Applied Industrial Technologies by 4.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 381,187 shares of the industrial products company’s stock valued at $85,897,000 after acquiring an additional 14,926 shares in the last quarter. Empowered Funds LLC purchased a new stake in shares of Applied Industrial Technologies in the first quarter worth approximately $318,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of 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 worth $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% during 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 position in Applied Industrial Technologies in the 2nd quarter valued at approximately $217,000. 93.52% of the stock is owned by institutional investors and hedge funds.

Applied Industrial Technologies Trading Up 1.3%

NYSE:AIT opened at $336.35 on Friday. The company has a market capitalization of $12.43 billion, a P/E ratio of 31.76, a P/E/G ratio of 2.91 and a beta of 0.83. The stock’s 50 day moving average price is $320.78 and its 200 day moving average price is $292.32. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.97 and a current ratio of 2.95. Applied Industrial Technologies, Inc. has a 52 week low of $238.34 and a 52 week high of $345.48.

Applied Industrial Technologies (NYSE:AIT) last posted its earnings results 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. The firm had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.23 billion. Applied Industrial Technologies had a net margin of 8.34% and a return on equity of 21.64%. The company’s revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the company earned $2.57 earnings per share. 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, research analysts forecast that Applied Industrial Technologies, Inc. will post 10.71 EPS for the current fiscal year.

Applied Industrial Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Friday, August 14th will be paid a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Friday, August 14th. Applied Industrial Technologies’s payout ratio is presently 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 the firm’s stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $329.89, for a total transaction of $1,268,427.05. Following the transaction, the director directly owned 4,951 shares in the company, valued at $1,633,285.39. This trade represents a 43.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Warren E. Hoffner III sold 8,000 shares of the business’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $306.04, for a total value of $2,448,320.00. Following the completion of the sale, the vice president directly owned 40,751 shares of the company’s stock, valued at $12,471,436.04. This represents a 16.41% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. KeyCorp increased their target price 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. DA Davidson began coverage on shares of Applied Industrial Technologies in a report on Tuesday, June 16th. They set a “buy” rating and a $380.00 price target on the stock. Oppenheimer upped their price target on shares of Applied Industrial Technologies from $300.00 to $350.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 29th. Robert W. Baird set a $317.00 price objective on Applied Industrial Technologies in a report on Wednesday, April 29th. Finally, Wall Street Zen cut Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Six research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Applied Industrial Technologies has a consensus rating of “Moderate Buy” and an average price target of $329.57.

About Applied Industrial Technologies

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.