Applied Industrial Technologies, Inc. $AIT Shares Acquired by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. grew its stake in Applied Industrial Technologies, Inc. (NYSE:AIT) by 7.7% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 79,436 shares of the industrial products company’s stock after acquiring an additional 5,652 shares during the period. Envestnet Asset Management Inc. owned about 0.21% of Applied Industrial Technologies worth $20,737,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in the stock. Root Financial Partners LLC purchased a new stake in Applied Industrial Technologies in the third quarter valued at approximately $27,000. Hantz Financial Services Inc. grew its stake in shares of Applied Industrial Technologies by 2,033.3% in the second quarter. Hantz Financial Services Inc. now owns 128 shares of the industrial products company’s stock valued at $30,000 after buying an additional 122 shares in the last quarter. First Horizon Corp purchased a new stake in shares of Applied Industrial Technologies in the 3rd quarter valued at $47,000. Headlands Technologies LLC acquired a new position in Applied Industrial Technologies during the 2nd quarter worth about $72,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new position in Applied Industrial Technologies during the 2nd quarter valued at about $81,000. Hedge funds and other institutional investors own 93.52% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. KeyCorp cut their price target on shares of Applied Industrial Technologies from $310.00 to $300.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 28th. Weiss Ratings reissued a “buy (b)” rating on shares of Applied Industrial Technologies in a research report on Monday, December 29th. Wall Street Zen lowered Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Finally, Mizuho set a $305.00 price objective on Applied Industrial Technologies in a research note on Wednesday, October 29th. Six equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $290.63.

Insider Buying and Selling

In other news, VP Warren E. Hoffner III sold 4,000 shares of Applied Industrial Technologies stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $288.62, for a total transaction of $1,154,480.00. Following the sale, the vice president owned 52,751 shares in the company, valued at approximately $15,224,993.62. The trade was a 7.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Neil A. Schrimsher sold 19,207 shares of the business’s stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $285.85, for a total value 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 $37,311,428.80. The trade was a 12.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 28,654 shares of company stock worth $8,212,829 in the last ninety days. 1.60% of the stock is owned by corporate insiders.

Applied Industrial Technologies Trading Up 0.3%

NYSE:AIT opened at $279.82 on Friday. Applied Industrial Technologies, Inc. has a 1 year low of $199.96 and a 1 year high of $296.70. The stock has a market cap of $10.44 billion, a P/E ratio of 26.62, a P/E/G ratio of 2.69 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 stock has a 50-day simple moving average of $269.79 and a 200-day simple moving average of $262.82.

Applied Industrial Technologies (NYSE:AIT) last posted its earnings results 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. The firm had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.17 billion. Applied Industrial Technologies had a return on equity of 21.74% and a net margin of 8.49%.The firm’s revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.39 earnings per share. Applied Industrial Technologies has set its FY 2026 guidance at 10.450-10.750 EPS. As a group, 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 will be paid on Friday, February 27th. Investors of record on Friday, February 13th will be given a $0.51 dividend. This is a positive change from Applied Industrial Technologies’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend 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 payout ratio is 17.51%.

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.