Victory Capital Management Inc. Reduces Position in Applied Industrial Technologies, Inc. $AIT

Victory Capital Management Inc. lowered its holdings in Applied Industrial Technologies, Inc. (NYSE:AIT) by 45.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 86,330 shares of the industrial products company’s stock after selling 71,308 shares during the period. Victory Capital Management Inc. owned about 0.23% of Applied Industrial Technologies worth $22,536,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of AIT. Wolverine Asset Management LLC bought a new position in Applied Industrial Technologies during the 3rd quarter valued at $1,044,000. Alps Advisors Inc. lifted its position in shares of Applied Industrial Technologies by 33.0% during the third quarter. Alps Advisors Inc. now owns 32,824 shares of the industrial products company’s stock worth $8,569,000 after purchasing an additional 8,153 shares during the last quarter. AlphaQuest LLC grew its stake in Applied Industrial Technologies by 210.3% in the third quarter. AlphaQuest LLC now owns 12,789 shares of the industrial products company’s stock worth $3,339,000 after purchasing an additional 8,668 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its holdings in Applied Industrial Technologies by 27.3% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 46,126 shares of the industrial products company’s stock valued at $12,041,000 after buying an additional 9,898 shares during the last quarter. Finally, Citigroup Inc. raised its stake in Applied Industrial Technologies by 44.4% during the third quarter. Citigroup Inc. now owns 30,319 shares of the industrial products company’s stock valued at $7,915,000 after buying an additional 9,321 shares in the last quarter. 93.52% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Applied Industrial Technologies

In other Applied Industrial Technologies news, VP Jason W. Vasquez sold 5,447 shares of the company’s stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $287.87, for a total value of $1,568,027.89. Following the completion of the transaction, the vice president owned 14,491 shares in the company, valued at approximately $4,171,524.17. This represents a 27.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Warren E. Hoffner III sold 4,000 shares of the firm’s 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 in the company, valued at $15,224,993.62. The trade was a 7.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 28,654 shares of company stock valued at $8,212,829 in the last ninety days. Company insiders own 1.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on AIT shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Applied Industrial Technologies in a research report on Monday, December 29th. Wall Street Zen raised shares of Applied Industrial Technologies from a “hold” rating to a “buy” rating in a report on Saturday, February 28th. Finally, KeyCorp increased their target price on shares of Applied Industrial Technologies from $300.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday, February 26th. Six research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Applied Industrial Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $294.38.

Applied Industrial Technologies Price Performance

Shares of AIT opened at $267.79 on Tuesday. The company has a market cap of $9.99 billion, a P/E ratio of 25.48, a PEG ratio of 2.56 and a beta of 0.80. The stock has a fifty day moving average price of $275.34 and a 200 day moving average price of $264.25. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.68 and a quick ratio of 2.56. Applied Industrial Technologies, Inc. has a 12 month low of $199.96 and a 12 month 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.48 by $0.03. Applied Industrial Technologies had a return on equity of 21.74% and a net margin of 8.49%.The company had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same period last year, the business posted $2.39 earnings per share. The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. Applied Industrial Technologies has set its FY 2026 guidance at 10.450-10.750 EPS. On average, research analysts forecast that Applied Industrial Technologies, Inc. will post 9.9 earnings per share for the current year.

Applied Industrial Technologies Increases Dividend

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