Kennedy Capital Management LLC Purchases 7,507 Shares of Applied Industrial Technologies, Inc. $AIT

Kennedy Capital Management LLC lifted its position in Applied Industrial Technologies, Inc. (NYSE:AIT) by 13.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 63,864 shares of the industrial products company’s stock after purchasing an additional 7,507 shares during the quarter. Kennedy Capital Management LLC owned about 0.17% of Applied Industrial Technologies worth $16,398,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. First Trust Advisors LP increased its holdings in shares of Applied Industrial Technologies by 22.7% in the third quarter. First Trust Advisors LP now owns 933,067 shares of the industrial products company’s stock worth $243,577,000 after purchasing an additional 172,857 shares during the period. Distillate Capital Partners LLC purchased a new position in Applied Industrial Technologies in the third quarter worth $13,281,000. Citigroup Inc. grew its position in Applied Industrial Technologies by 44.4% in the third quarter. Citigroup Inc. now owns 30,319 shares of the industrial products company’s stock worth $7,915,000 after acquiring an additional 9,321 shares in the last quarter. Westfield Capital Management Co. LP grew its position in Applied Industrial Technologies by 6.4% in the third quarter. Westfield Capital Management Co. LP now owns 234,734 shares of the industrial products company’s stock worth $61,277,000 after acquiring an additional 14,094 shares in the last quarter. Finally, Barclays PLC grew its position in Applied Industrial Technologies by 91.4% in the third quarter. Barclays PLC now owns 100,244 shares of the industrial products company’s stock worth $26,169,000 after acquiring an additional 47,868 shares in the last quarter. Institutional investors own 93.52% of the company’s stock.

Insider Transactions at Applied Industrial Technologies

In other Applied Industrial Technologies news, VP Warren E. Hoffner III sold 8,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $306.04, for a total transaction of $2,448,320.00. Following the transaction, the vice president owned 40,751 shares in the company, valued at approximately $12,471,436.04. This represents a 16.41% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on AIT. Robert W. Baird set a $317.00 target price on shares of Applied Industrial Technologies in a research report on Wednesday, April 29th. Wall Street Zen lowered shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Weiss Ratings reiterated a “buy (b)” rating on shares of Applied Industrial Technologies in a research report on Friday, April 24th. Oppenheimer upped their target price on shares of Applied Industrial Technologies from $300.00 to $350.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 29th. Finally, KeyCorp upped their target price on shares of Applied Industrial Technologies from $300.00 to $330.00 and gave the stock an “overweight” rating in a research report on Thursday, February 26th. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Applied Industrial Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $313.67.

Applied Industrial Technologies Stock Performance

NYSE AIT opened at $319.51 on Friday. The company has a 50-day simple moving average of $301.24 and a two-hundred day simple moving average of $279.90. The company has a quick ratio of 1.97, a current ratio of 2.95 and a debt-to-equity ratio of 0.19. Applied Industrial Technologies, Inc. has a 12-month low of $223.13 and a 12-month high of $326.41. The firm has a market cap of $11.81 billion, a price-to-earnings ratio of 30.17, a PEG ratio of 3.05 and a beta of 0.84.

Applied Industrial Technologies (NYSE:AIT) last posted its quarterly earnings results on Tuesday, April 28th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.63 by $0.02. Applied Industrial Technologies had a net margin of 8.34% and a return on equity of 21.64%. The business had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.23 billion. During the same period in the prior year, the business posted $2.57 earnings per share. The company’s revenue was up 7.3% on a year-over-year basis. Applied Industrial Technologies has set its Q4 2026 guidance at 2.850-2.960 EPS and its FY 2026 guidance at 10.640-10.750 EPS. On average, equities analysts forecast that Applied Industrial Technologies, Inc. will post 10.7 EPS for the current year.

Applied Industrial Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 15th were issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Friday, May 15th. Applied Industrial Technologies’s dividend payout ratio is currently 19.26%.

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.