GSA Capital Partners LLP Sells 2,503 Shares of Applied Industrial Technologies, Inc. $AIT

GSA Capital Partners LLP cut its position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 26.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 6,961 shares of the industrial products company’s stock after selling 2,503 shares during the period. GSA Capital Partners LLP’s holdings in Applied Industrial Technologies were worth $1,787,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of AIT. Torren Management LLC bought a new position in shares of Applied Industrial Technologies during the 4th quarter valued at about $25,000. Smartleaf Asset Management LLC increased its position in shares of Applied Industrial Technologies by 890.0% during the 3rd 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 last quarter. Root Financial Partners LLC bought a new position in shares of Applied Industrial Technologies during the 3rd quarter valued at about $27,000. Abich Financial Wealth Management LLC bought a new position in shares of Applied Industrial Technologies during the 3rd quarter valued at about $29,000. Finally, V Square Quantitative Management LLC bought a new position in shares of Applied Industrial Technologies during the 4th quarter valued at about $34,000. 93.52% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on AIT. Robert W. Baird set a $317.00 price objective on Applied Industrial Technologies in a research report on Wednesday, April 29th. KeyCorp raised their price target on Applied Industrial Technologies from $300.00 to $330.00 and gave the stock an “overweight” rating in a research report on Thursday, February 26th. Wall Street Zen lowered Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Oppenheimer raised their price target on Applied Industrial Technologies from $300.00 to $350.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 29th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Applied Industrial Technologies in a research report on Friday, April 24th. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $313.67.

Applied Industrial Technologies Trading Down 0.9%

NYSE AIT opened at $302.36 on Wednesday. Applied Industrial Technologies, Inc. has a fifty-two week low of $218.48 and a fifty-two week high of $317.10. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.97 and a current ratio of 2.95. The stock has a 50 day simple moving average of $283.33 and a two-hundred day simple moving average of $272.59. The stock has a market cap of $11.18 billion, a P/E ratio of 28.55, a price-to-earnings-growth ratio of 2.91 and a beta of 0.86.

Applied Industrial Technologies (NYSE:AIT) last released its quarterly earnings data 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 return on equity of 21.64% and a net margin of 8.34%.The business had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.23 billion. During the same quarter last year, the business posted $2.57 EPS. The business’s revenue was up 7.3% on a year-over-year basis. 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, analysts forecast that Applied Industrial Technologies, Inc. will post 10.7 earnings per share for the current year.

Applied Industrial Technologies Announces Dividend

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

Insiders Place Their Bets

In other Applied Industrial Technologies news, VP Warren E. Hoffner III sold 8,000 shares of the stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $306.04, for a total value of $2,448,320.00. Following the completion of the sale, the vice president owned 40,751 shares in the company, valued at approximately $12,471,436.04. This trade represents a 16.41% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.60% of the company’s stock.

About Applied Industrial Technologies

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.