Lisanti Capital Growth LLC Cuts Stake in Applied Industrial Technologies, Inc. $AIT

Lisanti Capital Growth LLC decreased its position in Applied Industrial Technologies, Inc. (NYSE:AIT) by 26.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,565 shares of the industrial products company’s stock after selling 6,270 shares during the period. Lisanti Capital Growth LLC’s holdings in Applied Industrial Technologies were worth $4,083,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Rise Advisors LLC increased its position in Applied Industrial Technologies by 111.1% during the 1st quarter. Rise Advisors LLC now owns 133 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 70 shares during the period. Hantz Financial Services Inc. grew its holdings in Applied Industrial Technologies by 2,033.3% during the second quarter. Hantz Financial Services Inc. now owns 128 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 122 shares during the period. Maseco LLP purchased a new position in Applied Industrial Technologies in the second quarter worth $35,000. SVB Wealth LLC acquired a new stake in Applied Industrial Technologies in the first quarter valued at $48,000. Finally, Harbor Investment Advisory LLC boosted its position in shares of 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 purchasing an additional 161 shares in the last quarter. Institutional investors and hedge funds own 93.52% of the company’s stock.

Insider Transactions at Applied Industrial Technologies

In other Applied Industrial Technologies news, VP Kurt W. Loring sold 8,523 shares of the stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $267.06, for a total transaction 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 trade represents a 30.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Neil A. Schrimsher sold 26,671 shares of the business’s stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $262.46, for a total transaction of $7,000,070.66. Following the sale, the chief executive officer directly owned 149,735 shares of the company’s stock, valued at $39,299,448.10. This represents a 15.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 42,660 shares of company stock worth $11,217,980 in the last three months. Company insiders own 1.60% of the company’s stock.

Applied Industrial Technologies Stock Down 0.4%

AIT stock opened at $258.56 on Friday. The company has a 50 day moving average price of $258.34 and a two-hundred day moving average price of $249.47. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.36 and a current ratio of 3.55. The stock has a market capitalization of $9.75 billion, a P/E ratio of 24.89, a PEG ratio of 2.61 and a beta of 0.99. Applied Industrial Technologies, Inc. has a one year low of $199.96 and a one year high of $282.98.

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

Applied Industrial Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be issued a $0.46 dividend. The ex-dividend date is Friday, November 14th. This represents a $1.84 annualized dividend and a yield of 0.7%. Applied Industrial Technologies’s payout ratio is 17.71%.

Analyst Ratings Changes

Several analysts recently commented on the stock. Oppenheimer raised their price objective on shares of Applied Industrial Technologies from $290.00 to $300.00 and gave the company an “outperform” rating in a research note on Friday, August 15th. Bank of America boosted their price target on Applied Industrial Technologies from $275.00 to $290.00 and gave the stock a “buy” rating in a research note on Friday, August 22nd. Weiss Ratings restated a “buy (b)” rating on shares of Applied Industrial Technologies in a report on Wednesday, October 8th. Industrial Alliance Securities set a $290.00 target price on Applied Industrial Technologies in a research report on Friday, August 22nd. Finally, Raymond James Financial lowered 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 assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Applied Industrial Technologies currently has an average rating of “Moderate Buy” and an average target price of $287.50.

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.