Applied Industrial Technologies (NYSE:AIT) VP Sells $2,448,320.00 in Stock

Applied Industrial Technologies, Inc. (NYSE:AIT) VP Warren Hoffner III sold 8,000 shares of the business’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $306.04, for a total transaction of $2,448,320.00. Following the completion of the sale, the vice president directly owned 40,751 shares of the company’s stock, valued at approximately $12,471,436.04. This trade represents a 16.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Applied Industrial Technologies Price Performance

Applied Industrial Technologies stock opened at $308.83 on Friday. The stock has a market cap of $11.41 billion, a price-to-earnings ratio of 29.16, a price-to-earnings-growth ratio of 2.96 and a beta of 0.86. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.95 and a quick ratio of 1.97. Applied Industrial Technologies, Inc. has a 1 year low of $218.48 and a 1 year high of $317.10. The firm has a 50-day moving average of $278.46 and a two-hundred day moving average of $269.64.

Applied Industrial Technologies (NYSE:AIT) last announced its quarterly earnings results on Tuesday, April 28th. The industrial products company reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.63 by $0.02. Applied Industrial Technologies had a net margin of 8.34% and a return on equity of 21.64%. The firm had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.23 billion. During the same quarter in the prior year, the company earned $2.57 EPS. The company’s revenue was up 7.3% compared to the same quarter last year. 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. On average, research analysts forecast that Applied Industrial Technologies, Inc. will post 10.7 earnings per share for the current year.

Applied Industrial Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Friday, May 15th will be paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Friday, May 15th. Applied Industrial Technologies’s payout ratio is 19.26%.

Institutional Investors Weigh In On Applied Industrial Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the company. Torren Management LLC acquired a new stake in Applied Industrial Technologies during the fourth quarter worth about $25,000. Smartleaf Asset Management LLC increased its position in Applied Industrial Technologies by 890.0% during the third quarter. Smartleaf Asset Management LLC now owns 99 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 89 shares during the last quarter. Root Financial Partners LLC acquired a new stake in Applied Industrial Technologies during the third quarter worth about $27,000. Abich Financial Wealth Management LLC acquired a new stake in shares of Applied Industrial Technologies during the third quarter valued at about $29,000. Finally, Anchor Investment Management LLC acquired a new stake in shares of Applied Industrial Technologies during the fourth quarter valued at about $32,000. 93.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Wall Street Zen lowered shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Robert W. Baird set a $317.00 price target on shares of Applied Industrial Technologies in a research note on Wednesday, April 29th. Oppenheimer upped their price target on shares of Applied Industrial Technologies from $300.00 to $350.00 and gave the company an “outperform” rating in a research note on Wednesday, April 29th. Weiss Ratings restated a “buy (b)” rating on shares of Applied Industrial Technologies in a research note on Friday, April 24th. Finally, KeyCorp upped their price target 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. Five analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $313.67.

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.