Distillate Capital Partners LLC Acquires New Stake in Applied Industrial Technologies, Inc. $AIT

Distillate Capital Partners LLC acquired a new stake in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 50,877 shares of the industrial products company’s stock, valued at approximately $13,281,000.

Other hedge funds have also added to or reduced their stakes in the company. Jones Financial Companies Lllp grew its stake in shares of Applied Industrial Technologies by 3.3% in the third quarter. Jones Financial Companies Lllp now owns 1,410 shares of the industrial products company’s stock worth $369,000 after acquiring an additional 45 shares during the last quarter. Quadrant Capital Group LLC raised its position in shares of Applied Industrial Technologies by 1.1% in the 3rd quarter. Quadrant Capital Group LLC now owns 4,631 shares of the industrial products company’s stock worth $1,209,000 after purchasing an additional 51 shares during the last quarter. Farther Finance Advisors LLC raised its position in shares of Applied Industrial Technologies by 13.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 457 shares of the industrial products company’s stock worth $119,000 after purchasing an additional 53 shares during the last quarter. Skandinaviska Enskilda Banken AB publ boosted its stake in Applied Industrial Technologies by 11.9% in the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 516 shares of the industrial products company’s stock worth $135,000 after purchasing an additional 55 shares in the last quarter. Finally, Harfst & Associates Inc. grew its position in Applied Industrial Technologies by 0.6% during the 3rd quarter. Harfst & Associates Inc. now owns 10,167 shares of the industrial products company’s stock valued at $2,654,000 after purchasing an additional 56 shares during the last quarter. 93.52% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

AIT has been the subject of a number of analyst reports. KeyCorp raised their price objective 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. Weiss Ratings reiterated a “buy (b)” rating on shares of Applied Industrial Technologies in a research note on Monday, December 29th. Finally, Wall Street Zen raised shares of Applied Industrial Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, February 28th. Six 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 has an average rating of “Moderate Buy” and a consensus price target of $294.38.

Insider Activity

In other news, VP Jason W. Vasquez sold 5,447 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the vice president directly owned 14,491 shares of the company’s stock, valued at $4,171,524.17. The trade was a 27.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Warren E. Hoffner III sold 4,000 shares of the stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $288.62, for a total transaction of $1,154,480.00. Following the transaction, the vice president owned 52,751 shares in the company, valued at approximately $15,224,993.62. This trade represents a 7.05% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 28,654 shares of company stock valued at $8,212,829 over the last three months. Insiders own 1.60% of the company’s stock.

Applied Industrial Technologies Trading Down 1.7%

Applied Industrial Technologies stock opened at $255.43 on Monday. 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 one year low of $199.96 and a one year high of $296.70. The stock has a market capitalization of $9.53 billion, a PE ratio of 24.30, a price-to-earnings-growth ratio of 2.45 and a beta of 0.81. The business’s fifty day moving average is $275.66 and its 200 day moving average is $264.13.

Applied Industrial Technologies (NYSE:AIT) last released its quarterly earnings data 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. Applied Industrial Technologies had a return on equity of 21.74% and a net margin of 8.49%.The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same period last year, the company earned $2.39 EPS. Applied Industrial Technologies’s revenue for the quarter 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. On average, sell-side analysts predict that Applied Industrial Technologies, Inc. will post 9.9 EPS for the current 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 paid a $0.51 dividend. This is a boost from Applied Industrial Technologies’s previous quarterly dividend of $0.46. 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. Applied Industrial Technologies’s dividend payout ratio (DPR) is presently 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.