AIA Group Ltd Acquires New Holdings in Applied Industrial Technologies, Inc. $AIT

AIA Group Ltd bought a new stake in Applied Industrial Technologies, Inc. (NYSE:AIT) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 3,207 shares of the industrial products company’s stock, valued at approximately $837,000.

Other hedge funds have also modified their holdings of the company. First Trust Advisors LP grew its position in shares of Applied Industrial Technologies by 22.7% in the 3rd quarter. First Trust Advisors LP now owns 933,067 shares of the industrial products company’s stock worth $243,577,000 after buying an additional 172,857 shares during the last quarter. Wellington Management Group LLP grew its holdings in Applied Industrial Technologies by 24.7% in the third quarter. Wellington Management Group LLP now owns 769,441 shares of the industrial products company’s stock worth $200,863,000 after purchasing an additional 152,197 shares during the last quarter. Capital International Investors acquired a new position in shares of Applied Industrial Technologies during the third quarter worth $200,456,000. Dimensional Fund Advisors LP lifted its holdings in shares of Applied Industrial Technologies by 1.5% during 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 purchasing an additional 10,408 shares during the last quarter. Finally, Alyeska Investment Group L.P. lifted its holdings in shares of Applied Industrial Technologies by 7.7% during the 3rd quarter. Alyeska Investment Group L.P. now owns 471,218 shares of the industrial products company’s stock valued at $123,011,000 after purchasing an additional 33,790 shares during the last quarter. 93.52% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, VP Warren E. Hoffner III sold 4,000 shares of the stock in a transaction that occurred on 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 completion of the sale, the vice president owned 52,751 shares of the company’s stock, valued at approximately $15,224,993.62. This trade represents a 7.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Jason W. Vasquez sold 5,447 shares of Applied Industrial Technologies stock in a transaction that occurred 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 transaction, the vice president owned 14,491 shares in the company, valued at approximately $4,171,524.17. The trade was a 27.32% 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 valued at $8,212,829 in the last ninety days. 1.60% of the stock is currently owned by corporate insiders.

Applied Industrial Technologies Stock Performance

Shares of NYSE:AIT opened at $253.46 on Friday. 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 1 year low of $199.96 and a 1 year high of $296.70. The firm has a market capitalization of $9.45 billion, a PE ratio of 24.12, a P/E/G ratio of 2.46 and a beta of 0.81. The business’s 50 day moving average price is $274.90 and its 200-day moving average price is $263.90.

Applied Industrial Technologies (NYSE:AIT) last announced its quarterly earnings data on Tuesday, January 27th. The industrial products company reported $2.51 earnings per share 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 analyst estimates of $1.17 billion. During the same quarter last year, the firm posted $2.39 EPS. The firm’s revenue for the quarter 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. As a group, equities research analysts expect that Applied Industrial Technologies, Inc. will post 9.9 earnings per share for the current fiscal year.

Applied Industrial Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Friday, February 13th were issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Friday, February 13th. This is a positive change from Applied Industrial Technologies’s previous quarterly dividend of $0.46. Applied Industrial Technologies’s payout ratio is currently 19.41%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. 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 note on Thursday, February 26th. Wall Street Zen cut Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Applied Industrial Technologies in a research note on Monday, December 29th. Six analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Applied Industrial Technologies presently has an average rating of “Moderate Buy” and an average price target 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.