GW&K Investment Management LLC Purchases 5,882 Shares of Applied Industrial Technologies, Inc. $AIT

GW&K Investment Management LLC lifted its position in Applied Industrial Technologies, Inc. (NYSE:AIT) by 2.9% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 211,182 shares of the industrial products company’s stock after purchasing an additional 5,882 shares during the period. GW&K Investment Management LLC’s holdings in Applied Industrial Technologies were worth $55,131,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Goldman Sachs Group Inc. lifted its holdings in Applied Industrial Technologies by 4.1% in the first quarter. Goldman Sachs Group Inc. now owns 381,187 shares of the industrial products company’s stock valued at $85,897,000 after acquiring an additional 14,926 shares during the period. Empowered Funds LLC purchased a new stake in shares of Applied Industrial Technologies during the 1st quarter valued at about $318,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Applied Industrial Technologies by 12.4% in the 1st 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% in the first quarter. Focus Partners Wealth now owns 1,341 shares of the industrial products company’s stock worth $302,000 after buying an additional 58 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its position in Applied Industrial Technologies by 38.6% during the second quarter. Envestnet Asset Management Inc. now owns 73,784 shares of the industrial products company’s stock valued at $17,151,000 after buying an additional 20,535 shares during the period. Hedge funds and other institutional investors own 93.52% of the company’s stock.

Wall Street Analysts Forecast Growth

AIT has been the topic of several recent research reports. Wall Street Zen upgraded shares of Applied Industrial Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, February 28th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Applied Industrial Technologies in a report on Monday, December 29th. Finally, KeyCorp boosted their price target 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 research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $294.38.

Insiders Place Their Bets

In other news, VP Warren E. Hoffner III sold 4,000 shares of the 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 transaction, the vice president directly owned 52,751 shares in the company, valued at approximately $15,224,993.62. This represents a 7.05% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Jason W. Vasquez sold 5,447 shares of the business’s stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $287.87, for a total transaction of $1,568,027.89. Following the completion of the sale, the vice president owned 14,491 shares in the company, valued at $4,171,524.17. This represents a 27.32% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 28,654 shares of company stock valued at $8,212,829 in the last quarter. 1.60% of the stock is currently owned by insiders.

Applied Industrial Technologies Price Performance

Shares of NYSE:AIT opened at $279.85 on Thursday. The firm has a market cap of $10.44 billion, a price-to-earnings ratio of 26.63, a P/E/G ratio of 2.66 and a beta of 0.81. The firm has a fifty day moving average price of $274.98 and a 200 day moving average price of $264.05. Applied Industrial Technologies, Inc. has a fifty-two week low of $199.96 and a fifty-two week high of $296.70. 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 announced its quarterly earnings results on Tuesday, January 27th. The industrial products company reported $2.51 EPS for the quarter, topping the consensus estimate of $2.48 by $0.03. The business had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.17 billion. Applied Industrial Technologies had a net margin of 8.49% and a return on equity of 21.74%. The business’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.39 EPS. Applied Industrial Technologies has set its FY 2026 guidance at 10.450-10.750 EPS. As a group, sell-side analysts expect that Applied Industrial Technologies, Inc. will post 9.9 earnings per share for the current fiscal year.

Applied Industrial Technologies Increases Dividend

The company also recently declared 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. The ex-dividend date was Friday, February 13th. This represents a $2.04 annualized dividend and a 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 19.41%.

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.