NEOS Investment Management LLC Grows Stock Position in Applied Industrial Technologies, Inc. $AIT

NEOS Investment Management LLC grew its position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 16.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 36,418 shares of the industrial products company’s stock after buying an additional 5,063 shares during the period. NEOS Investment Management LLC owned 0.10% of Applied Industrial Technologies worth $9,507,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in AIT. Smartleaf Asset Management LLC increased its stake in shares of Applied Industrial Technologies by 890.0% in the third quarter. Smartleaf Asset Management LLC now owns 99 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 89 shares in the last quarter. Root Financial Partners LLC purchased a new position in Applied Industrial Technologies in the 3rd quarter valued at approximately $27,000. Abich Financial Wealth Management LLC purchased a new position in Applied Industrial Technologies in the 3rd quarter valued at approximately $29,000. Hantz Financial Services Inc. raised its holdings in Applied Industrial Technologies by 2,033.3% during the 2nd quarter. Hantz Financial Services Inc. now owns 128 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 122 shares during the period. Finally, First Horizon Corp bought a new position in shares of Applied Industrial Technologies in the third quarter worth $47,000. Hedge funds and other institutional investors own 93.52% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on AIT. Mizuho set a $305.00 price objective on Applied Industrial Technologies in a research note on Wednesday, October 29th. KeyCorp lowered their price target on shares of Applied Industrial Technologies from $310.00 to $300.00 and set an “overweight” rating on the stock in a report on Wednesday, January 28th. 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. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Applied Industrial Technologies in a research note on Monday, December 29th. Six analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Applied Industrial Technologies has an average rating of “Moderate Buy” and a consensus target price of $290.63.

Applied Industrial Technologies Stock Performance

Shares of NYSE AIT opened at $278.52 on Wednesday. The stock’s 50-day moving average is $270.67 and its 200 day moving average is $262.91. The stock has a market cap of $10.39 billion, a price-to-earnings ratio of 26.50, a P/E/G ratio of 2.69 and a beta of 0.84. 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.

Applied Industrial Technologies (NYSE:AIT) last issued its quarterly 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 net margin of 8.49% and a return on equity of 21.74%. The business had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same period last year, the business earned $2.39 earnings per share. The business’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. On average, sell-side analysts anticipate that Applied Industrial Technologies, Inc. will post 9.9 EPS for the current fiscal year.

Applied Industrial Technologies Increases Dividend

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

Insider Activity at Applied Industrial Technologies

In other news, VP Jason W. Vasquez sold 5,447 shares of the firm’s 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 completion of the transaction, 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Neil A. Schrimsher sold 19,207 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer owned 130,528 shares in the company, valued at approximately $37,311,428.80. The trade was a 12.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 28,654 shares of company stock valued at $8,212,829 in the last 90 days. Corporate insiders own 1.60% of the company’s stock.

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.