Geode Capital Management LLC Decreases Position in Applied Industrial Technologies, Inc. $AIT

Geode Capital Management LLC reduced its stake in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 27.8% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 672,336 shares of the industrial products company’s stock after selling 259,029 shares during the quarter. Geode Capital Management LLC owned 1.77% of Applied Industrial Technologies worth $156,310,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Rise Advisors LLC grew its position in Applied Industrial Technologies by 111.1% in the first quarter. Rise Advisors LLC now owns 133 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 70 shares in the last quarter. Hantz Financial Services Inc. boosted its stake in shares of Applied Industrial Technologies by 2,033.3% in the second quarter. Hantz Financial Services Inc. now owns 128 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 122 shares during the period. Maseco LLP acquired a new stake in Applied Industrial Technologies during the 2nd quarter valued at $35,000. SVB Wealth LLC acquired a new stake in Applied Industrial Technologies during the 1st quarter valued at $48,000. Finally, Harbor Investment Advisory LLC increased its stake in Applied Industrial Technologies by 100.6% during the 2nd quarter. Harbor Investment Advisory LLC now owns 321 shares of the industrial products company’s stock worth $75,000 after buying an additional 161 shares during the period. 93.52% of the stock is owned by institutional investors and hedge funds.

Applied Industrial Technologies Stock Up 0.8%

AIT stock opened at $242.46 on Wednesday. The firm has a market cap of $9.14 billion, a price-to-earnings ratio of 23.34, a PEG ratio of 2.61 and a beta of 0.99. Applied Industrial Technologies, Inc. has a 1-year low of $199.96 and a 1-year high of $282.98. The firm has a fifty day moving average price of $256.47 and a two-hundred day moving average price of $250.29. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.55 and a quick ratio of 2.36.

Applied Industrial Technologies (NYSE:AIT) last posted its quarterly earnings results on Tuesday, October 28th. The industrial products company reported $2.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.47 by $0.16. Applied Industrial Technologies had a net margin of 8.61% and a return on equity of 21.86%. The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same period last year, the firm posted $2.36 EPS. The company’s revenue for the quarter was up 9.2% on a year-over-year basis. Applied Industrial Technologies has set its FY 2026 guidance at 10.100-10.850 EPS. Research analysts predict that Applied Industrial Technologies, Inc. will post 9.9 EPS for the current year.

Applied Industrial Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Friday, November 14th. Applied Industrial Technologies’s payout ratio is presently 17.71%.

Wall Street Analyst Weigh In

AIT has been the subject of a number of analyst reports. Mizuho set a $305.00 price objective on shares of Applied Industrial Technologies in a research report on Wednesday, October 29th. Robert W. Baird lifted their price objective on Applied Industrial Technologies from $265.00 to $300.00 and gave the stock an “outperform” rating in a report on Friday, August 15th. Bank of America increased their target price on Applied Industrial Technologies from $275.00 to $290.00 and gave the company a “buy” rating in a research note on Friday, August 22nd. Weiss Ratings reissued a “buy (b-)” rating on shares of Applied Industrial Technologies in a research report on Thursday, November 13th. Finally, Raymond James Financial cut shares of Applied Industrial Technologies from an “outperform” rating to a “market perform” rating in a report on Friday, August 15th. Six research 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, Applied Industrial Technologies has an average rating of “Moderate Buy” and an average target price of $287.50.

Insider Buying and Selling at Applied Industrial Technologies

In related news, VP Jason W. Vasquez sold 7,466 shares of the firm’s stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $260.08, for a total value of $1,941,757.28. Following the sale, the vice president owned 14,491 shares of the company’s stock, valued at approximately $3,768,819.28. This trade represents a 34.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Kurt W. Loring sold 8,523 shares of the business’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $267.06, for a total value of $2,276,152.38. Following the transaction, the vice president owned 19,273 shares of the company’s stock, valued at $5,147,047.38. This represents a 30.66% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 42,660 shares of company stock worth $11,217,980 over the last ninety days. Company insiders own 1.60% of the company’s stock.

About Applied Industrial Technologies

Applied Industrial Technologies, Inc distributes industrial motion, power, control, and automation technology solutions in North America, Australia, New Zealand, and Singapore. It operates in two segments, Service Center Based Distribution, and Engineered Solutions. The company distributes bearings, power transmission products, engineered fluid power components and systems, specialty flow control solutions, advanced automation products, industrial rubber products, linear motion components, automation solutions, tools, safety products, oilfield supplies, and other industrial and maintenance supplies; and motors, belting, drives, couplings, pumps, hydraulic and pneumatic components, filtration supplies, valves, fittings, process instrumentation, actuators, and hoses, filtration supplies, as well as other related supplies for general operational needs of customers' machinery and equipment.