Neil Schrimsher Sells 19,207 Shares of Applied Industrial Technologies (NYSE:AIT) Stock

Applied Industrial Technologies, Inc. (NYSE:AIT) CEO Neil Schrimsher sold 19,207 shares of the firm’s stock in a transaction that occurred 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 directly owned 130,528 shares in the company, valued at approximately $37,311,428.80. This trade represents a 12.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link.

Applied Industrial Technologies Stock Up 1.8%

NYSE AIT traded up $5.24 on Friday, reaching $292.27. 409,726 shares of the stock traded hands, compared to its average volume of 380,281. Applied Industrial Technologies, Inc. has a 12 month low of $199.96 and a 12 month high of $295.26. The company has a market cap of $10.90 billion, a price-to-earnings ratio of 27.81, a PEG ratio of 2.95 and a beta of 0.84. The company has a fifty day moving average price of $266.63 and a 200-day moving average price of $262.19. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.56 and a current ratio of 3.68.

Applied Industrial Technologies (NYSE:AIT) last released its quarterly earnings data on Tuesday, January 27th. The industrial products company reported $2.51 earnings per share for the quarter, topping analysts’ consensus estimates of $2.48 by $0.03. The company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.17 billion. Applied Industrial Technologies had a net margin of 8.49% and a return on equity of 21.74%. The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.39 earnings per share. Applied Industrial Technologies has set its FY 2026 guidance at 10.450-10.750 EPS. As a group, research analysts forecast that Applied Industrial Technologies, Inc. will post 9.9 EPS for the current fiscal year.

Applied Industrial Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 13th will be issued a $0.51 dividend. The ex-dividend date is Friday, February 13th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.7%. This is a boost from Applied Industrial Technologies’s previous quarterly dividend of $0.46. Applied Industrial Technologies’s dividend payout ratio (DPR) is 17.51%.

Institutional Trading of Applied Industrial Technologies

Several institutional investors have recently bought and sold shares of the business. Capital International Investors acquired a new position in Applied Industrial Technologies during the third quarter worth $200,456,000. Norges Bank purchased a new position in Applied Industrial Technologies in the 2nd quarter valued at about $107,228,000. Qube Research & Technologies Ltd acquired a new stake in Applied Industrial Technologies in the 2nd quarter worth about $81,722,000. M&T Bank Corp increased its stake in Applied Industrial Technologies by 33,181.4% during the 4th quarter. M&T Bank Corp now owns 300,864 shares of the industrial products company’s stock worth $81,322,000 after buying an additional 299,960 shares in the last quarter. Finally, Dundas Partners LLP increased its stake in Applied Industrial Technologies by 12,956.0% during the 2nd quarter. Dundas Partners LLP now owns 266,212 shares of the industrial products company’s stock worth $61,881,000 after buying an additional 264,173 shares in the last quarter. 93.52% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AIT has been the topic of a number of recent analyst reports. KeyCorp lowered their price target on shares of Applied Industrial Technologies from $310.00 to $300.00 and set an “overweight” rating on the stock in a report on Wednesday, January 28th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Applied Industrial Technologies in a report on Monday, December 29th. Wall Street Zen downgraded Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Finally, Mizuho set a $305.00 price objective on Applied Industrial Technologies in a report on Wednesday, October 29th. Six equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $290.63.

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.