Algert Global LLC Boosts Position in Applied Industrial Technologies, Inc. $AIT

Algert Global LLC increased its position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 3.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 62,533 shares of the industrial products company’s stock after acquiring an additional 2,183 shares during the quarter. Algert Global LLC owned approximately 0.17% of Applied Industrial Technologies worth $16,324,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of AIT. Ameriprise Financial Inc. boosted its holdings in Applied Industrial Technologies by 7.2% in the 3rd quarter. Ameriprise Financial Inc. now owns 266,166 shares of the industrial products company’s stock valued at $69,483,000 after purchasing an additional 17,808 shares during the last quarter. Creative Planning increased its holdings in shares of Applied Industrial Technologies by 22.6% during the 3rd quarter. Creative Planning now owns 17,842 shares of the industrial products company’s stock worth $4,658,000 after buying an additional 3,293 shares during the last quarter. AQR Capital Management LLC raised its position in shares of Applied Industrial Technologies by 44.0% during the 3rd quarter. AQR Capital Management LLC now owns 224,009 shares of the industrial products company’s stock valued at $58,195,000 after buying an additional 68,498 shares during the period. Credit Agricole S A purchased a new stake in shares of Applied Industrial Technologies during the 3rd quarter valued at approximately $2,739,000. Finally, Amundi lifted its holdings in Applied Industrial Technologies by 15.4% in the third quarter. Amundi now owns 54,318 shares of the industrial products company’s stock valued at $14,071,000 after acquiring an additional 7,256 shares during the last quarter. Hedge funds and other institutional investors own 93.52% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently 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. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Applied Industrial Technologies in a research note on Monday, December 29th. Finally, KeyCorp increased their price target on 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. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $294.38.

Applied Industrial Technologies Trading Down 1.7%

AIT opened at $255.43 on Friday. 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 business has a fifty day simple moving average of $275.66 and a 200-day simple moving average of $264.16. The firm has a market cap of $9.53 billion, a P/E ratio of 24.30, a P/E/G ratio of 2.45 and a beta of 0.81.

Applied Industrial Technologies (NYSE:AIT) last posted its quarterly earnings data on Tuesday, January 27th. The industrial products company reported $2.51 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the previous year, the business earned $2.39 EPS. The company’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, equities analysts expect that Applied Industrial Technologies, Inc. will post 9.9 earnings per share for the current year.

Applied Industrial Technologies Increases Dividend

The firm also recently declared 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 dividend on an annualized basis and a yield of 0.8%. This is a boost from Applied Industrial Technologies’s previous quarterly dividend of $0.46. The ex-dividend date was Friday, February 13th. Applied Industrial Technologies’s payout ratio is currently 19.41%.

Insiders Place Their Bets

In other news, VP Jason W. Vasquez sold 5,447 shares of the stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $287.87, for a total transaction of $1,568,027.89. Following the sale, the vice president owned 14,491 shares of the company’s stock, valued at approximately $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 Securities & Exchange Commission, which can be accessed through the SEC website. 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 transaction of $5,490,320.95. Following the completion of the transaction, the chief executive officer directly owned 130,528 shares of the company’s stock, valued at approximately $37,311,428.80. The trade was a 12.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 28,654 shares of company stock worth $8,212,829 over the last three months. Company insiders own 1.60% of the company’s stock.

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.