Jason Vasquez Sells 5,447 Shares of Applied Industrial Technologies (NYSE:AIT) Stock

Applied Industrial Technologies, Inc. (NYSE:AIT) VP Jason Vasquez sold 5,447 shares of the stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $287.87, for a total transaction of $1,568,027.89. Following the sale, the vice president directly owned 14,491 shares in the company, valued at $4,171,524.17. This trade represents a 27.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Applied Industrial Technologies Stock Performance

AIT traded up $5.24 on Friday, reaching $292.27. The stock had a trading volume of 409,726 shares, compared to its average volume of 380,281. The business’s 50-day moving average price is $266.63 and its two-hundred day moving average price is $262.19. The company has a market cap of $10.90 billion, a P/E ratio of 27.81, a price-to-earnings-growth ratio of 2.95 and a beta of 0.84. Applied Industrial Technologies, Inc. has a 12-month low of $199.96 and a 12-month high of $295.26. The company has a current ratio of 3.68, a quick ratio of 2.56 and a debt-to-equity ratio of 0.31.

Applied Industrial Technologies (NYSE:AIT) last posted its earnings results on Tuesday, January 27th. The industrial products company reported $2.51 EPS for the quarter, beating analysts’ consensus estimates of $2.48 by $0.03. Applied Industrial Technologies had a return on equity of 21.74% and a net margin of 8.49%.The firm had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same period last year, the firm earned $2.39 EPS. The company’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. Sell-side analysts forecast 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 announced a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 13th will be paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Friday, February 13th. This is a positive change from Applied Industrial Technologies’s previous quarterly dividend of $0.46. Applied Industrial Technologies’s dividend payout ratio is currently 17.51%.

Hedge Funds Weigh In On Applied Industrial Technologies

Several hedge funds and other institutional investors have recently modified their holdings of the business. Capital International Investors purchased a new stake in Applied Industrial Technologies during the 3rd quarter valued at about $200,456,000. Norges Bank acquired a new position in shares of Applied Industrial Technologies during the 2nd quarter worth approximately $107,228,000. Qube Research & Technologies Ltd acquired a new position in shares of Applied Industrial Technologies during the 2nd quarter worth approximately $81,722,000. M&T Bank Corp grew its position in shares of Applied Industrial Technologies by 33,181.4% in the fourth quarter. M&T Bank Corp now owns 300,864 shares of the industrial products company’s stock valued at $81,322,000 after purchasing an additional 299,960 shares in the last quarter. Finally, Dundas Partners LLP increased its holdings in shares of Applied Industrial Technologies by 12,956.0% in the second quarter. Dundas Partners LLP now owns 266,212 shares of the industrial products company’s stock valued at $61,881,000 after purchasing an additional 264,173 shares during the last quarter. 93.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Wall Street Zen cut shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. KeyCorp dropped their target price on shares of Applied Industrial Technologies from $310.00 to $300.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 28th. Mizuho set a $305.00 target price on shares of Applied Industrial Technologies in a research note on Wednesday, October 29th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Applied Industrial Technologies in a research note on Monday, December 29th. Six equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $290.63.

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.