Bank of New York Mellon Corp Has $77.03 Million Stock Position in Applied Industrial Technologies, Inc. $AIT

Bank of New York Mellon Corp lowered its stake in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 2.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 290,328 shares of the industrial products company’s stock after selling 6,224 shares during the period. Bank of New York Mellon Corp owned 0.79% of Applied Industrial Technologies worth $77,030,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Compound Planning Inc. increased its position in Applied Industrial Technologies by 4.7% during the fourth quarter. Compound Planning Inc. now owns 822 shares of the industrial products company’s stock worth $211,000 after buying an additional 37 shares during the last quarter. US Asset Management LLC boosted its stake in shares of Applied Industrial Technologies by 3.3% during the 4th quarter. US Asset Management LLC now owns 1,266 shares of the industrial products company’s stock worth $325,000 after acquiring an additional 41 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Applied Industrial Technologies by 7.4% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 653 shares of the industrial products company’s stock worth $170,000 after acquiring an additional 45 shares during the period. Sanctuary Advisors LLC increased its holdings in shares of Applied Industrial Technologies by 4.5% during the 1st quarter. Sanctuary Advisors LLC now owns 1,160 shares of the industrial products company’s stock worth $308,000 after acquiring an additional 50 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in Applied Industrial Technologies by 3.6% in the 4th quarter. GAMMA Investing LLC now owns 1,585 shares of the industrial products company’s stock valued at $407,000 after acquiring an additional 55 shares during the period. Institutional investors and hedge funds own 93.52% of the company’s stock.

Insider Buying and Selling at Applied Industrial Technologies

In related news, Director Madhuri A. Andrews sold 3,845 shares of the firm’s stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $329.89, for a total value of $1,268,427.05. Following the transaction, the director owned 4,951 shares in the company, valued at approximately $1,633,285.39. This trade represents a 43.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Warren E. Hoffner III sold 8,000 shares of the company’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $306.04, for a total transaction of $2,448,320.00. Following the sale, the vice president directly owned 40,751 shares of the company’s stock, valued at $12,471,436.04. This represents a 16.41% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on AIT. Oppenheimer lifted their target price on shares of Applied Industrial Technologies from $300.00 to $350.00 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. Wall Street Zen downgraded shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Weiss Ratings restated a “buy (b)” rating on shares of Applied Industrial Technologies in a report on Friday, April 24th. Mizuho upped their target price on Applied Industrial Technologies from $330.00 to $355.00 and gave the company an “outperform” rating in a research report on Tuesday. Finally, DA Davidson assumed coverage on Applied Industrial Technologies in a research note on Tuesday, June 16th. They set a “buy” rating and a $380.00 target price on the stock. Seven analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $336.71.

Applied Industrial Technologies Price Performance

Shares of Applied Industrial Technologies stock opened at $340.91 on Wednesday. The company has a quick ratio of 1.97, a current ratio of 2.95 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $12.60 billion, a price-to-earnings ratio of 32.19, a price-to-earnings-growth ratio of 2.91 and a beta of 0.83. Applied Industrial Technologies, Inc. has a twelve month low of $238.34 and a twelve month high of $345.48. The company has a 50-day simple moving average of $321.81 and a two-hundred day simple moving average of $293.64.

Applied Industrial Technologies (NYSE:AIT) last announced its earnings results on Tuesday, April 28th. The industrial products company reported $2.65 EPS for the quarter, topping the consensus estimate of $2.63 by $0.02. The company had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.23 billion. Applied Industrial Technologies had a net margin of 8.34% and a return on equity of 21.64%. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period last year, the firm earned $2.57 earnings per share. Applied Industrial Technologies has set its Q4 2026 guidance at 2.850-2.960 EPS and its FY 2026 guidance at 10.640-10.750 EPS. Analysts forecast that Applied Industrial Technologies, Inc. will post 10.71 EPS for the current year.

Applied Industrial Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Friday, August 14th will be given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Friday, August 14th. Applied Industrial Technologies’s dividend payout ratio is presently 19.26%.

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.