Dakota Wealth Management Takes Position in Applied Industrial Technologies, Inc. $AIT

Dakota Wealth Management bought a new position in Applied Industrial Technologies, Inc. (NYSE:AIT) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 2,351 shares of the industrial products company’s stock, valued at approximately $604,000.

A number of other large investors have also recently made changes to their positions in AIT. First Trust Advisors LP raised its position in 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 purchasing an additional 172,857 shares during the period. Wellington Management Group LLP lifted its stake 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 purchased a new position in shares of Applied Industrial Technologies during the third quarter valued at approximately $200,456,000. Dimensional Fund Advisors LP boosted its position in shares of Applied Industrial Technologies by 1.5% during the third quarter. Dimensional Fund Advisors LP now owns 720,352 shares of the industrial products company’s stock valued at $188,040,000 after buying an additional 10,408 shares during the period. Finally, Alyeska Investment Group L.P. grew its stake in shares of Applied Industrial Technologies by 7.7% during the third quarter. Alyeska Investment Group L.P. now owns 471,218 shares of the industrial products company’s stock valued at $123,011,000 after buying 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 other news, CEO Neil A. Schrimsher sold 19,207 shares of the stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $285.85, for a total transaction of $5,490,320.95. Following the transaction, the chief executive officer owned 130,528 shares of the company’s stock, valued at approximately $37,311,428.80. This represents a 12.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Warren E. Hoffner III sold 4,000 shares of the stock in a transaction 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 transaction, the vice president directly 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 have sold 28,654 shares of company stock worth $8,212,829 in the last ninety days. 1.60% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

AIT has been the topic of several recent analyst reports. Wall Street Zen downgraded Applied Industrial Technologies from a “buy” rating to a “hold” rating in a report on Saturday, March 21st. KeyCorp boosted their price objective on Applied Industrial Technologies from $300.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, February 26th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Applied Industrial Technologies in a research report on Monday, December 29th. Six research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $294.38.

Applied Industrial Technologies Price Performance

Applied Industrial Technologies stock opened at $257.62 on Tuesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.68 and a quick ratio of 2.56. The stock has a market cap of $9.61 billion, a price-to-earnings ratio of 24.51, a price-to-earnings-growth ratio of 2.50 and a beta of 0.81. The firm has a 50-day moving average of $272.81 and a two-hundred day moving average of $263.77. Applied Industrial Technologies, Inc. has a 1 year low of $199.96 and a 1 year high of $296.70.

Applied Industrial Technologies (NYSE:AIT) last issued its earnings results 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 for the quarter, compared to analyst estimates of $1.17 billion. During the same period last year, the company posted $2.39 earnings per share. 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, 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. Shareholders of record on Friday, February 13th were issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 0.8%. The ex-dividend date was Friday, February 13th. This is an increase from Applied Industrial Technologies’s previous quarterly dividend of $0.46. 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.