Fifth Third Bancorp Purchases 17,398 Shares of Applied Industrial Technologies, Inc. $AIT

Fifth Third Bancorp lifted its stake in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 784.0% in the first quarter, according to its most recent filing with the SEC. The fund owned 19,617 shares of the industrial products company’s stock after acquiring an additional 17,398 shares during the period. Fifth Third Bancorp owned approximately 0.05% of Applied Industrial Technologies worth $5,205,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of AIT. Capital International Investors increased its stake in Applied Industrial Technologies by 25.4% in the 4th quarter. Capital International Investors now owns 962,925 shares of the industrial products company’s stock worth $247,250,000 after purchasing an additional 195,043 shares during the period. Wellington Management Group LLP lifted its holdings in Applied Industrial Technologies by 0.9% in the 4th quarter. Wellington Management Group LLP now owns 776,394 shares of the industrial products company’s stock worth $199,355,000 after buying an additional 6,953 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Applied Industrial Technologies by 0.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 723,700 shares of the industrial products company’s stock worth $185,833,000 after buying an additional 3,348 shares during the last quarter. Geode Capital Management LLC increased its position in Applied Industrial Technologies by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 687,161 shares of the industrial products company’s stock valued at $176,479,000 after purchasing an additional 1,889 shares during the period. Finally, Corient Private Wealth LLC lifted its holdings in Applied Industrial Technologies by 22,451.0% in the fourth quarter. Corient Private Wealth LLC now owns 585,423 shares of the industrial products company’s stock worth $150,319,000 after buying an additional 582,827 shares during the period. 93.52% of the stock is currently owned by institutional investors.

Applied Industrial Technologies Trading Up 1.3%

AIT stock opened at $336.35 on Friday. Applied Industrial Technologies, Inc. has a 12 month low of $238.34 and a 12 month high of $345.48. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.95 and a quick ratio of 1.97. The firm’s 50-day moving average is $320.78 and its 200 day moving average is $292.32. The company has a market capitalization of $12.43 billion, a PE ratio of 31.76, a P/E/G ratio of 2.87 and a beta of 0.83.

Applied Industrial Technologies (NYSE:AIT) last released its quarterly earnings data on Tuesday, April 28th. The industrial products company reported $2.65 earnings per share for the quarter, beating the consensus estimate of $2.63 by $0.02. The firm had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.23 billion. Applied Industrial Technologies had a return on equity of 21.64% and a net margin of 8.34%.The firm’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.57 earnings per share. 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, research analysts anticipate that Applied Industrial Technologies, Inc. will post 10.71 EPS for the current year.

Applied Industrial Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Friday, August 14th will be paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 0.6%. The ex-dividend date is Friday, August 14th. Applied Industrial Technologies’s payout ratio is 19.26%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. DA Davidson initiated coverage on shares of Applied Industrial Technologies in a research report on Tuesday, June 16th. They set a “buy” rating and a $380.00 price objective on the stock. Oppenheimer lifted their target price on Applied Industrial Technologies from $300.00 to $350.00 and gave the company an “outperform” rating 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. KeyCorp lifted their target price on shares of Applied Industrial Technologies from $350.00 to $375.00 and gave the company an “overweight” rating in a research note on Monday. Finally, Robert W. Baird set a $317.00 target price on shares of Applied Industrial Technologies in a report on Wednesday, April 29th. Six research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Applied Industrial Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $329.57.

Insider Activity

In other news, VP Warren E. Hoffner III sold 8,000 shares of the stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $306.04, for a total value of $2,448,320.00. Following the sale, the vice president owned 40,751 shares in the company, valued at $12,471,436.04. This represents a 16.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Madhuri A. Andrews sold 3,845 shares of Applied Industrial Technologies stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $329.89, for a total value of $1,268,427.05. Following the transaction, the director owned 4,951 shares of the company’s stock, valued at $1,633,285.39. The trade was a 43.71% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.60% of the company’s stock.

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.