Westfield Capital Management Co. LP Purchases 14,094 Shares of Applied Industrial Technologies, Inc. $AIT

Westfield Capital Management Co. LP grew its position in Applied Industrial Technologies, Inc. (NYSE:AIT) by 6.4% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 234,734 shares of the industrial products company’s stock after purchasing an additional 14,094 shares during the quarter. Westfield Capital Management Co. LP’s holdings in Applied Industrial Technologies were worth $61,277,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in AIT. Norges Bank acquired a new position in Applied Industrial Technologies during the second quarter valued at approximately $107,228,000. Royal London Asset Management Ltd. raised its holdings in shares of Applied Industrial Technologies by 69.2% during the 2nd quarter. Royal London Asset Management Ltd. now owns 393,743 shares of the industrial products company’s stock worth $91,526,000 after buying an additional 161,048 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Applied Industrial Technologies by 4.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 381,187 shares of the industrial products company’s stock worth $85,897,000 after buying an additional 14,926 shares during the last quarter. Bank of America Corp DE lifted its position in shares of Applied Industrial Technologies by 47.8% during the 2nd quarter. Bank of America Corp DE now owns 374,627 shares of the industrial products company’s stock worth $87,082,000 after buying an additional 121,163 shares during the last quarter. Finally, Qube Research & Technologies Ltd acquired a new stake in Applied Industrial Technologies in the second quarter valued at about $81,722,000. Institutional investors and hedge funds own 93.52% of the company’s stock.

Applied Industrial Technologies Stock Performance

NYSE:AIT opened at $283.66 on Friday. The stock’s 50-day moving average is $273.57 and its 200-day moving average is $263.70. Applied Industrial Technologies, Inc. has a 1-year low of $199.96 and a 1-year high of $296.70. The company has a current ratio of 3.68, a quick ratio of 2.56 and a debt-to-equity ratio of 0.31. The stock has a market cap of $10.58 billion, a P/E ratio of 26.99, a price-to-earnings-growth ratio of 2.69 and a beta of 0.84.

Applied Industrial Technologies (NYSE:AIT) last issued its quarterly earnings data 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 analyst estimates of $1.17 billion. During the same quarter last year, the business earned $2.39 EPS. The firm’s quarterly revenue 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 anticipate that Applied Industrial Technologies, Inc. will post 9.9 earnings per share for the current year.

Applied Industrial Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 13th will be issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.7%. This is a boost from Applied Industrial Technologies’s previous quarterly dividend of $0.46. The ex-dividend date is Friday, February 13th. Applied Industrial Technologies’s dividend payout ratio (DPR) is presently 19.41%.

Insider Buying and Selling

In other Applied Industrial Technologies news, VP Warren E. Hoffner III sold 4,000 shares of the company’s stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $288.62, for a total value of $1,154,480.00. Following the sale, the vice president owned 52,751 shares in the company, valued at approximately $15,224,993.62. The trade was a 7.05% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Jason W. Vasquez sold 5,447 shares of the stock in a transaction dated 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 sale, the vice president directly 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 disclosure for this sale is available in the SEC filing. Insiders have sold a total of 28,654 shares of company stock valued at $8,212,829 over the last 90 days. 1.60% of the stock is owned by insiders.

Analyst Ratings Changes

AIT has been the subject of several research analyst reports. Weiss Ratings reissued a “buy (b)” rating on shares of Applied Industrial Technologies in a research note on Monday, December 29th. Wall Street Zen cut shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Finally, KeyCorp increased 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. Six analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $294.38.

Applied Industrial Technologies Company 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.