Kingsview Wealth Management LLC Buys 2,548 Shares of Applied Industrial Technologies, Inc. $AIT

Kingsview Wealth Management LLC lifted its position in Applied Industrial Technologies, Inc. (NYSE:AIT) by 12.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 22,837 shares of the industrial products company’s stock after purchasing an additional 2,548 shares during the period. Kingsview Wealth Management LLC’s holdings in Applied Industrial Technologies were worth $5,962,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Goldman Sachs Group Inc. boosted its position in Applied Industrial Technologies by 4.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 381,187 shares of the industrial products company’s stock valued at $85,897,000 after buying an additional 14,926 shares during the period. Empowered Funds LLC bought a new position in shares of Applied Industrial Technologies during the first quarter valued at about $318,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Applied Industrial Technologies by 12.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 98,348 shares of the industrial products company’s stock worth $22,162,000 after purchasing an additional 10,863 shares during the period. Focus Partners Wealth boosted its holdings in shares of Applied Industrial Technologies by 4.5% during the first quarter. Focus Partners Wealth now owns 1,341 shares of the industrial products company’s stock worth $302,000 after purchasing an additional 58 shares during the period. Finally, Envestnet Asset Management Inc. grew its stake in shares of Applied Industrial Technologies by 38.6% in the second quarter. Envestnet Asset Management Inc. now owns 73,784 shares of the industrial products company’s stock worth $17,151,000 after purchasing an additional 20,535 shares during the last quarter. 93.52% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Applied Industrial Technologies

In other news, VP Jason W. Vasquez sold 5,447 shares of the business’s stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $287.87, for a total transaction of $1,568,027.89. Following the sale, 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. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Warren E. Hoffner III sold 4,000 shares of the stock in a transaction dated 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 transaction, the vice president owned 52,751 shares of the company’s stock, valued at approximately $15,224,993.62. The trade was a 7.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 28,654 shares of company stock valued at $8,212,829. 1.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

AIT has been the subject of a number of recent analyst reports. Wall Street Zen raised Applied Industrial Technologies from a “hold” rating to a “buy” rating in a research report on Saturday. Weiss Ratings reissued a “buy (b)” rating on shares of Applied Industrial Technologies in a research note on Monday, December 29th. Finally, KeyCorp upped their target price on Applied Industrial Technologies from $300.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, February 26th. Six equities research 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $294.38.

Applied Industrial Technologies Stock Performance

Shares of AIT opened at $283.91 on Tuesday. The company has a 50-day simple moving average of $274.39 and a two-hundred day simple moving average of $263.78. 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 firm has a market capitalization of $10.59 billion, a PE ratio of 27.01, a price-to-earnings-growth ratio of 2.70 and a beta of 0.80. Applied Industrial Technologies, Inc. has a one year low of $199.96 and a one year high of $296.70.

Applied Industrial Technologies (NYSE:AIT) last announced its earnings results on Tuesday, January 27th. The industrial products company reported $2.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.48 by $0.03. The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.17 billion. Applied Industrial Technologies had a return on equity of 21.74% and a net margin of 8.49%.The business’s revenue was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.39 EPS. Applied Industrial Technologies has set its FY 2026 guidance at 10.450-10.750 EPS. On average, analysts anticipate that Applied Industrial Technologies, Inc. will post 9.9 EPS for the current fiscal 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 given a dividend of $0.51 per share. This is an increase from Applied Industrial Technologies’s previous quarterly dividend of $0.46. This represents a $2.04 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Friday, February 13th. Applied Industrial Technologies’s payout ratio is 19.41%.

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.