Applied Industrial Technologies, Inc. $AIT Shares Sold by Dundas Partners LLP

Dundas Partners LLP lessened its holdings in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 99.2% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,110 shares of the industrial products company’s stock after selling 264,102 shares during the quarter. Dundas Partners LLP’s holdings in Applied Industrial Technologies were worth $551,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Smartleaf Asset Management LLC lifted its holdings in Applied Industrial Technologies by 890.0% during the 3rd 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 bought a new position in Applied Industrial Technologies during the 3rd quarter worth $27,000. Abich Financial Wealth Management LLC acquired a new position in Applied Industrial Technologies during the 3rd quarter valued at about $29,000. First Horizon Corp bought a new stake in shares of Applied Industrial Technologies during the third quarter valued at approximately $47,000. Finally, Headlands Technologies LLC bought a new stake in Applied Industrial Technologies during the 2nd quarter valued at $72,000. Institutional investors and hedge funds own 93.52% of the company’s stock.

Insider Buying and Selling

In other news, VP Jason W. Vasquez sold 5,447 shares of Applied Industrial Technologies stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $287.87, for a total value of $1,568,027.89. Following the completion of the sale, the vice president directly owned 14,491 shares of the company’s stock, valued at approximately $4,171,524.17. This trade represents a 27.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Warren E. Hoffner III sold 4,000 shares of the business’s stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $288.62, for a total value of $1,154,480.00. Following the sale, the vice president directly owned 52,751 shares of the company’s stock, valued at $15,224,993.62. This represents a 7.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 28,654 shares of company stock worth $8,212,829 in the last quarter. Insiders own 1.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on AIT. Wall Street Zen upgraded Applied Industrial Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, February 28th. KeyCorp lifted their target price on shares of 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, Weiss Ratings reissued a “buy (b)” rating on shares of Applied Industrial Technologies in a research report on Monday, December 29th. Six equities 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, Applied Industrial Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $294.38.

Applied Industrial Technologies Stock Down 2.5%

AIT stock opened at $267.99 on Monday. The company has a market cap of $10.00 billion, a PE ratio of 25.50, a price-to-earnings-growth ratio of 2.56 and a beta of 0.80. The company has a quick ratio of 2.56, a current ratio of 3.68 and a debt-to-equity ratio of 0.31. Applied Industrial Technologies, Inc. has a twelve month low of $199.96 and a twelve month high of $296.70. The business’s 50-day simple moving average is $275.25 and its 200 day simple moving average is $264.18.

Applied Industrial Technologies (NYSE:AIT) last issued its earnings results on Tuesday, January 27th. The industrial products company reported $2.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.48 by $0.03. The business 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%.Applied Industrial Technologies’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.39 EPS. Applied Industrial Technologies has set its FY 2026 guidance at 10.450-10.750 EPS. On average, research analysts anticipate 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 $0.51 dividend. This is a boost from Applied Industrial Technologies’s previous quarterly dividend of $0.46. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Friday, February 13th. Applied Industrial Technologies’s payout ratio is presently 19.41%.

Applied Industrial Technologies Company 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.