Artisan Partners Limited Partnership Decreases Stock Position in Applied Industrial Technologies, Inc. $AIT

Artisan Partners Limited Partnership cut its position in Applied Industrial Technologies, Inc. (NYSE:AIT) by 3.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 310,238 shares of the industrial products company’s stock after selling 12,584 shares during the period. Artisan Partners Limited Partnership owned 0.82% of Applied Industrial Technologies worth $80,988,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Applied Industrial Technologies during the 2nd quarter worth $107,228,000. Royal London Asset Management Ltd. lifted its stake in shares of Applied Industrial Technologies by 69.2% in the second quarter. Royal London Asset Management Ltd. now owns 393,743 shares of the industrial products company’s stock worth $91,526,000 after buying an additional 161,048 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in Applied Industrial Technologies by 4.1% during the first quarter. Goldman Sachs Group Inc. now owns 381,187 shares of the industrial products company’s stock worth $85,897,000 after acquiring an additional 14,926 shares during the last quarter. Bank of America Corp DE boosted its position in Applied Industrial Technologies by 47.8% during the second quarter. Bank of America Corp DE now owns 374,627 shares of the industrial products company’s stock worth $87,082,000 after acquiring an additional 121,163 shares during the last quarter. Finally, Qube Research & Technologies Ltd purchased a new stake in Applied Industrial Technologies during the 2nd quarter valued at about $81,722,000. 93.52% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Applied Industrial Technologies

In related news, CEO Neil A. Schrimsher sold 19,207 shares of the stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $285.85, for a total transaction of $5,490,320.95. Following the completion of the transaction, the chief executive officer 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 is accessible through this hyperlink. Also, VP Warren E. Hoffner III sold 4,000 shares of Applied Industrial Technologies stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $288.62, for a total transaction of $1,154,480.00. Following the completion of the sale, the vice president owned 52,751 shares of the company’s stock, valued at $15,224,993.62. This trade represents a 7.05% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 28,654 shares of company stock worth $8,212,829 over the last three months. Insiders own 1.60% of the company’s stock.

Applied Industrial Technologies Trading Down 0.2%

Shares of Applied Industrial Technologies stock opened at $282.85 on Friday. The stock has a 50 day moving average of $273.98 and a 200 day moving average of $263.84. 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 firm has a market capitalization of $10.55 billion, a price-to-earnings ratio of 26.91, a PEG ratio of 2.71 and a beta of 0.84. Applied Industrial Technologies, Inc. has a fifty-two week low of $199.96 and a fifty-two week high of $296.70.

Applied Industrial Technologies (NYSE:AIT) last posted its earnings results on Tuesday, January 27th. The industrial products company reported $2.51 EPS for the quarter, beating analysts’ consensus estimates of $2.48 by $0.03. The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.17 billion. Applied Industrial Technologies had a return on equity of 21.74% and a net margin of 8.49%.The company’s revenue for the quarter was up 8.4% on a year-over-year basis. 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, research analysts predict 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 announced a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Friday, February 13th were paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 0.7%. This is a boost from Applied Industrial Technologies’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Friday, February 13th. Applied Industrial Technologies’s payout ratio is 19.41%.

Wall Street Analysts Forecast Growth

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

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.