First Trust Advisors LP Buys 172,857 Shares of Applied Industrial Technologies, Inc. $AIT

First Trust Advisors LP increased its position in Applied Industrial Technologies, Inc. (NYSE:AIT) by 22.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 933,067 shares of the industrial products company’s stock after buying an additional 172,857 shares during the period. First Trust Advisors LP’s holdings in Applied Industrial Technologies were worth $243,577,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Smartleaf Asset Management LLC grew its stake in shares of Applied Industrial Technologies by 890.0% in the 3rd quarter. Smartleaf Asset Management LLC now owns 99 shares of the industrial products company’s stock worth $26,000 after buying an additional 89 shares in the last quarter. Root Financial Partners LLC purchased a new position in Applied Industrial Technologies in the third quarter worth about $27,000. Abich Financial Wealth Management LLC bought a new stake in shares of Applied Industrial Technologies in the 3rd quarter valued at approximately $29,000. First Horizon Corp purchased a new position in Applied Industrial Technologies during the third quarter worth $47,000. Finally, Headlands Technologies LLC purchased a new position in shares of Applied Industrial Technologies during the 2nd quarter worth about $72,000. 93.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on AIT shares. Weiss Ratings restated a “buy (b)” rating on shares of Applied Industrial Technologies in a report on Monday, December 29th. KeyCorp boosted their target price on shares of Applied Industrial Technologies from $300.00 to $330.00 and gave the company an “overweight” rating in a research note on Thursday, February 26th. Finally, Wall Street Zen upgraded shares of Applied Industrial Technologies from a “hold” rating to a “buy” rating in a report on Saturday, February 28th. Six 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, Applied Industrial Technologies has an average rating of “Moderate Buy” and an average target price of $294.38.

Insider Buying and Selling

In other Applied Industrial Technologies news, CEO Neil A. Schrimsher sold 19,207 shares of the firm’s stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $285.85, for a total transaction of $5,490,320.95. Following the transaction, the chief executive officer owned 130,528 shares of the company’s stock, valued at approximately $37,311,428.80. This trade represents a 12.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at 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 Stock Down 2.5%

Shares of NYSE:AIT opened at $267.99 on Friday. The business’s 50 day moving average is $275.25 and its 200 day moving average is $264.17. The stock has a market cap of $10.00 billion, a P/E ratio of 25.50, a price-to-earnings-growth ratio of 2.56 and a beta of 0.81. Applied Industrial Technologies, Inc. has a 52-week low of $199.96 and a 52-week high of $296.70. The company has a quick ratio of 2.56, a current ratio of 3.68 and a debt-to-equity ratio of 0.31.

Applied Industrial Technologies (NYSE:AIT) last issued its earnings results on Tuesday, January 27th. The industrial products company reported $2.51 earnings per share for the quarter, beating analysts’ consensus estimates of $2.48 by $0.03. Applied Industrial Technologies had a return on equity of 21.74% and a net margin of 8.49%.The business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same period in the previous year, the company posted $2.39 EPS. Applied Industrial Technologies’s revenue was up 8.4% on a year-over-year basis. Applied Industrial Technologies has set its FY 2026 guidance at 10.450-10.750 EPS. Sell-side analysts predict that Applied Industrial Technologies, Inc. will post 9.9 EPS for the current year.

Applied Industrial Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Friday, February 13th were issued a $0.51 dividend. The ex-dividend date was Friday, February 13th. This is an increase from Applied Industrial Technologies’s previous quarterly dividend of $0.46. This represents a $2.04 annualized dividend and a dividend yield of 0.8%. Applied Industrial Technologies’s dividend payout ratio is presently 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.