Applied Industrial Technologies, Inc. $AIT Shares Sold by Kennedy Capital Management LLC

Kennedy Capital Management LLC trimmed its stake in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 9.4% in the third quarter, Holdings Channel reports. The fund owned 56,357 shares of the industrial products company’s stock after selling 5,823 shares during the period. Kennedy Capital Management LLC’s holdings in Applied Industrial Technologies were worth $14,712,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Smartleaf Asset Management LLC increased its holdings in shares of Applied Industrial Technologies by 890.0% in the third quarter. Smartleaf Asset Management LLC now owns 99 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 89 shares during the period. Root Financial Partners LLC acquired a new stake in shares of Applied Industrial Technologies during the third quarter worth $27,000. Abich Financial Wealth Management LLC purchased a new position in Applied Industrial Technologies in the 3rd quarter valued at $29,000. First Horizon Corp purchased a new position in Applied Industrial Technologies in the 3rd quarter valued at $47,000. Finally, Johnson Financial Group Inc. acquired a new position in Applied Industrial Technologies in the 3rd quarter valued at $69,000. 93.52% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on AIT shares. Weiss Ratings restated a “buy (b)” rating on shares of Applied Industrial Technologies in a research report on Monday, December 29th. KeyCorp boosted their price target on shares of Applied Industrial Technologies from $300.00 to $330.00 and gave the stock an “overweight” rating in a research note on Thursday, February 26th. Finally, Wall Street Zen raised 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 assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $294.38.

Insider Transactions at Applied Industrial Technologies

In related news, CEO Neil A. Schrimsher sold 19,207 shares of the company’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 value of $5,490,320.95. Following the sale, the chief executive officer owned 130,528 shares in the company, valued at $37,311,428.80. This represents a 12.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Jason W. Vasquez sold 5,447 shares of Applied Industrial Technologies stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $287.87, for a total value of $1,568,027.89. Following the transaction, the vice president directly owned 14,491 shares of the company’s stock, valued at approximately $4,171,524.17. This represents a 27.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 28,654 shares of company stock valued at $8,212,829 in the last quarter. 1.60% of the stock is currently owned by corporate insiders.

Applied Industrial Technologies Price Performance

Shares of NYSE AIT traded down $3.51 during trading on Friday, hitting $256.37. 17,352 shares of the company were exchanged, compared to its average volume of 332,365. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.68 and a quick ratio of 2.56. Applied Industrial Technologies, Inc. has a 1 year low of $199.96 and a 1 year high of $296.70. The company has a market cap of $9.56 billion, a price-to-earnings ratio of 24.36, a PEG ratio of 2.59 and a beta of 0.81. The firm’s fifty day moving average price is $275.74 and its 200 day moving average price is $264.24.

Applied Industrial Technologies (NYSE:AIT) last announced its quarterly earnings results on Tuesday, January 27th. The industrial products company reported $2.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.48 by $0.03. Applied Industrial Technologies had a net margin of 8.49% and a return on equity of 21.74%. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter last year, the firm posted $2.39 EPS. The business’s revenue was up 8.4% compared to the same quarter last year. Applied Industrial Technologies has set its FY 2026 guidance at 10.450-10.750 EPS. On average, 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 business also recently declared a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Friday, February 13th were given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Friday, February 13th. This is a positive change from Applied Industrial Technologies’s previous quarterly dividend of $0.46. 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.