Allspring Global Investments Holdings LLC Decreases Stock Holdings in Applied Industrial Technologies, Inc. $AIT

Allspring Global Investments Holdings LLC lowered its holdings in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 25.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 231,240 shares of the industrial products company’s stock after selling 77,719 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.61% of Applied Industrial Technologies worth $60,037,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Wolverine Asset Management LLC bought a new stake in shares of Applied Industrial Technologies in the 3rd quarter valued at approximately $1,044,000. Alps Advisors Inc. increased its position in shares of Applied Industrial Technologies by 33.0% during the 3rd quarter. Alps Advisors Inc. now owns 32,824 shares of the industrial products company’s stock valued at $8,569,000 after purchasing an additional 8,153 shares during the last quarter. Citigroup Inc. raised its holdings in Applied Industrial Technologies by 44.4% during the 3rd 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 during the period. AlphaQuest LLC lifted its position 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 buying an additional 8,668 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its position 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 worth $12,041,000 after buying an additional 9,898 shares during the last quarter. 93.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in 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 lowered shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a report on Saturday, March 21st. Finally, KeyCorp upped their price target on shares of Applied Industrial Technologies from $300.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, February 26th. Six analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $294.38.

Applied Industrial Technologies Trading Up 1.5%

Shares of AIT opened at $269.42 on Thursday. The firm has a market capitalization of $10.05 billion, a price-to-earnings ratio of 25.63, a PEG ratio of 2.54 and a beta of 0.82. 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 company has a 50-day moving average of $272.28 and a 200 day moving average of $263.82.

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 the consensus estimate of $1.17 billion. During the same period in the prior year, the firm earned $2.39 EPS. The company’s revenue for the quarter 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 expect that Applied Industrial Technologies, Inc. will post 9.9 EPS for the current year.

Applied Industrial Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Friday, February 13th were paid a $0.51 dividend. 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 of this dividend was Friday, February 13th. Applied Industrial Technologies’s payout ratio is currently 19.41%.

Insider Buying and Selling

In other news, CEO Neil A. Schrimsher sold 19,207 shares of the business’s stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $285.85, for a total value of $5,490,320.95. Following the completion of the sale, the chief executive officer owned 130,528 shares in the company, valued at approximately $37,311,428.80. The trade was a 12.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Warren E. Hoffner III sold 4,000 shares of the company’s stock in a transaction that occurred on Thursday, February 5th. The stock was 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 directly owned 52,751 shares of the company’s stock, 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 a total of 28,654 shares of company stock valued at $8,212,829 over the last three months. 1.60% of the stock is owned by company insiders.

Applied Industrial Technologies 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.