Dynamic Technology Lab Private Ltd Cuts Stake in Applied Industrial Technologies, Inc. $AIT

Dynamic Technology Lab Private Ltd lowered its stake in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 54.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,450 shares of the industrial products company’s stock after selling 5,393 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Applied Industrial Technologies were worth $1,162,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. First Trust Advisors LP boosted its position in shares of Applied Industrial Technologies by 22.7% during the third quarter. First Trust Advisors LP now owns 933,067 shares of the industrial products company’s stock worth $243,577,000 after acquiring an additional 172,857 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Applied Industrial Technologies by 1.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 720,352 shares of the industrial products company’s stock valued at $188,040,000 after acquiring an additional 10,408 shares during the last quarter. Norges Bank bought a new stake in Applied Industrial Technologies in the 2nd quarter valued at $107,228,000. Royal London Asset Management Ltd. lifted its stake in Applied Industrial Technologies by 69.2% in the 2nd quarter. Royal London Asset Management Ltd. now owns 393,743 shares of the industrial products company’s stock worth $91,526,000 after purchasing an additional 161,048 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in Applied Industrial Technologies by 4.1% in the 1st 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. Hedge funds and other institutional investors own 93.52% of the company’s stock.

Insider Buying and Selling

In other Applied Industrial Technologies news, VP Jason W. Vasquez sold 5,447 shares of the company’s stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $287.87, for a total transaction of $1,568,027.89. Following the sale, the vice president directly owned 14,491 shares in the company, valued at $4,171,524.17. This represents a 27.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Neil A. Schrimsher sold 19,207 shares of the firm’s stock in a transaction that occurred on 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. Over the last quarter, insiders sold 28,654 shares of company stock worth $8,212,829. Corporate insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on AIT. Weiss Ratings restated a “buy (b)” rating on shares of Applied Industrial Technologies in a research report on Monday, December 29th. KeyCorp boosted their target price on Applied Industrial Technologies from $300.00 to $330.00 and gave the stock an “overweight” rating in a research report on Thursday, February 26th. Finally, Wall Street Zen raised Applied Industrial Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, February 28th. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $294.38.

Applied Industrial Technologies Price Performance

Applied Industrial Technologies stock opened at $267.99 on Monday. Applied Industrial Technologies, Inc. has a 52-week low of $199.96 and a 52-week high of $296.70. The company has a quick ratio of 2.56, a current ratio of 3.68 and a debt-to-equity ratio of 0.31. The firm’s fifty day moving average is $275.25 and its 200 day moving average is $264.18. The company has a market cap of $10.00 billion, a price-to-earnings ratio of 25.50, a PEG ratio of 2.56 and a beta of 0.80.

Applied Industrial Technologies (NYSE:AIT) last issued its quarterly earnings data on Tuesday, January 27th. The industrial products company reported $2.51 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same period last year, the company posted $2.39 EPS. The business’s 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. Sell-side analysts forecast that Applied Industrial Technologies, Inc. will post 9.9 EPS for the current fiscal year.

Applied Industrial Technologies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Friday, February 13th were given a $0.51 dividend. This is an increase from Applied Industrial Technologies’s previous quarterly dividend of $0.46. This represents a $2.04 annualized dividend and a yield of 0.8%. The ex-dividend date was Friday, February 13th. Applied Industrial Technologies’s dividend payout ratio (DPR) is 19.41%.

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.