Neil Schrimsher Sells 19,207 Shares of Applied Industrial Technologies (NYSE:AIT) Stock

Applied Industrial Technologies, Inc. (NYSE:AIT) CEO Neil Schrimsher sold 19,207 shares of Applied Industrial Technologies stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $285.85, for a total transaction of $5,490,320.95. Following the completion of the sale, the chief executive officer directly owned 130,528 shares of the company’s stock, valued at approximately $37,311,428.80. This trade represents a 12.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Applied Industrial Technologies Stock Up 1.8%

AIT stock opened at $292.27 on Friday. Applied Industrial Technologies, Inc. has a fifty-two week low of $199.96 and a fifty-two week high of $295.26. The company has a market cap of $10.90 billion, a price-to-earnings ratio of 27.81, a P/E/G ratio of 2.97 and a beta of 0.84. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.56 and a current ratio of 3.68. The business’s 50-day moving average is $267.30 and its two-hundred day moving average is $262.39.

Applied Industrial Technologies (NYSE:AIT) last issued its quarterly earnings data on Tuesday, January 27th. The industrial products company reported $2.51 earnings per share for the quarter, topping the consensus estimate of $2.48 by $0.03. Applied Industrial Technologies had a net margin of 8.49% and a return on equity of 21.74%. The firm had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter in the prior year, the business earned $2.39 EPS. The business’s quarterly 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. As a group, analysts forecast that Applied Industrial Technologies, Inc. will post 9.9 earnings per share for the current year.

Applied Industrial Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Friday, February 13th will be paid a dividend of $0.51 per share. This is a boost from Applied Industrial Technologies’s previous quarterly dividend of $0.46. The ex-dividend date is Friday, February 13th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.7%. Applied Industrial Technologies’s dividend payout ratio is presently 17.51%.

Hedge Funds Weigh In On Applied Industrial Technologies

Institutional investors have recently bought and sold shares of the business. Torren Management LLC purchased a new position in shares of Applied Industrial Technologies in the 4th quarter valued at $25,000. Smartleaf Asset Management LLC raised its holdings in shares of Applied Industrial Technologies by 890.0% in the third quarter. Smartleaf Asset Management LLC now owns 99 shares of the industrial products company’s stock worth $26,000 after buying an additional 89 shares during the last quarter. Root Financial Partners LLC purchased a new position in Applied Industrial Technologies in the 3rd quarter worth $27,000. Abich Financial Wealth Management LLC purchased a new position in shares of Applied Industrial Technologies in the third quarter worth about $29,000. Finally, Hantz Financial Services Inc. raised its position in Applied Industrial Technologies by 2,033.3% during the 2nd 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. 93.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on AIT. KeyCorp dropped their price objective on Applied Industrial Technologies from $310.00 to $300.00 and set an “overweight” rating for the company in a research note on Wednesday, January 28th. Mizuho set a $305.00 price objective on shares of Applied Industrial Technologies in a research note on Wednesday, October 29th. Weiss Ratings reiterated a “buy (b)” rating on shares of Applied Industrial Technologies in a report on Monday, December 29th. Finally, Wall Street Zen cut shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Six investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $290.63.

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.