Numerai GP LLC Has $2.83 Million Holdings in Applied Industrial Technologies, Inc. $AIT

Numerai GP LLC cut its position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 41.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,821 shares of the industrial products company’s stock after selling 7,669 shares during the period. Numerai GP LLC’s holdings in Applied Industrial Technologies were worth $2,825,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Smartleaf Asset Management LLC boosted its stake 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 buying an additional 89 shares in the last quarter. Root Financial Partners LLC acquired a new position in shares of Applied Industrial Technologies in the 3rd quarter valued at $27,000. Abich Financial Wealth Management LLC acquired a new position in shares of Applied Industrial Technologies in the 3rd quarter valued at $29,000. First Horizon Corp bought a new position in shares of Applied Industrial Technologies during the 3rd quarter worth about $47,000. Finally, Johnson Financial Group Inc. bought a new position in shares of Applied Industrial Technologies during the 3rd quarter worth about $69,000. 93.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Applied Industrial Technologies

In related news, CEO Neil A. Schrimsher sold 19,207 shares of the firm’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $285.85, for a total transaction of $5,490,320.95. Following the completion of the sale, the chief executive officer directly owned 130,528 shares of the company’s stock, valued at $37,311,428.80. This trade represents a 12.83% decrease in their position. The transaction was disclosed in a document filed 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 shares were sold at an average price of $287.87, for a total value of $1,568,027.89. Following the completion of the transaction, the vice president owned 14,491 shares of the company’s stock, valued at approximately $4,171,524.17. The trade was a 27.32% decrease in their position. 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 three months. 1.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on AIT shares. Wall Street Zen raised shares of Applied Industrial Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, February 28th. Weiss Ratings restated a “buy (b)” rating on shares of Applied Industrial Technologies in a research note on Monday, December 29th. Finally, KeyCorp lifted their price objective on Applied Industrial Technologies from $300.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, February 26th. Six analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Applied Industrial Technologies has a consensus rating of “Moderate Buy” and a consensus target price of $294.38.

Applied Industrial Technologies Stock Up 0.5%

Shares of NYSE:AIT opened at $256.86 on Tuesday. The company’s fifty day moving average is $275.53 and its 200-day moving average is $264.07. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.56 and a current ratio of 3.68. Applied Industrial Technologies, Inc. has a 52 week low of $199.96 and a 52 week high of $296.70. The company has a market capitalization of $9.58 billion, a PE ratio of 24.44, a P/E/G ratio of 2.45 and a beta of 0.80.

Applied Industrial Technologies (NYSE:AIT) last announced its earnings results on Tuesday, January 27th. The industrial products company reported $2.51 earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of $1.17 billion. During the same quarter last year, the company posted $2.39 EPS. The firm’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. Equities research analysts predict that Applied Industrial Technologies, Inc. will post 9.9 earnings per share for the current fiscal year.

Applied Industrial Technologies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Friday, February 13th were paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.8%. This is an increase from Applied Industrial Technologies’s previous quarterly dividend of $0.46. The ex-dividend date was Friday, February 13th. Applied Industrial Technologies’s dividend payout ratio 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.