Applied Industrial Technologies, Inc. $AIT Shares Acquired by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund lifted its holdings in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 25.7% during the first quarter, HoldingsChannel.com reports. The fund owned 16,643 shares of the industrial products company’s stock after purchasing an additional 3,405 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Applied Industrial Technologies were worth $4,416,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of AIT. Torren Management LLC purchased a new stake in Applied Industrial Technologies in the 4th quarter valued at $25,000. Anchor Investment Management LLC purchased a new position in Applied Industrial Technologies during the 4th quarter worth $32,000. V Square Quantitative Management LLC purchased a new position in Applied Industrial Technologies during the 4th quarter worth $34,000. Allworth Financial LP grew its position in Applied Industrial Technologies by 446.4% during the 3rd quarter. Allworth Financial LP now owns 153 shares of the industrial products company’s stock worth $40,000 after purchasing an additional 125 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its stake in Applied Industrial Technologies by 78.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 177 shares of the industrial products company’s stock valued at $46,000 after purchasing an additional 78 shares during the period. 93.52% of the stock is owned by institutional investors and hedge funds.

Applied Industrial Technologies Trading Up 1.3%

Shares of Applied Industrial Technologies stock opened at $336.35 on Friday. The firm has a market cap of $12.43 billion, a price-to-earnings ratio of 31.76, a price-to-earnings-growth ratio of 2.91 and a beta of 0.83. Applied Industrial Technologies, Inc. has a 52-week low of $238.34 and a 52-week high of $345.48. The company’s 50-day simple moving average is $320.78 and its 200-day simple moving average is $292.32. 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 (NYSE:AIT) last announced its quarterly earnings data on Tuesday, April 28th. The industrial products company reported $2.65 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.23 billion. During the same quarter last year, the firm earned $2.57 earnings per share. The firm’s revenue was up 7.3% compared to the same quarter last year. 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. As a group, equities research analysts anticipate that Applied Industrial Technologies, Inc. will post 10.71 earnings per share for the current year.

Applied Industrial Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Friday, August 14th will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Friday, August 14th. Applied Industrial Technologies’s dividend payout ratio (DPR) is currently 19.26%.

Insider Buying and Selling

In related news, VP Warren E. Hoffner III sold 8,000 shares of the company’s stock in a transaction 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 of the company’s stock, valued at $12,471,436.04. This represents a 16.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Madhuri A. Andrews sold 3,845 shares of the company’s stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $329.89, for a total value of $1,268,427.05. Following the transaction, the director directly owned 4,951 shares in the company, valued at $1,633,285.39. This represents a 43.71% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.60% of the stock is owned by insiders.

Analysts Set New Price Targets

AIT has been the subject of a number of research reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Applied Industrial Technologies in a report on Friday, April 24th. DA Davidson began coverage on Applied Industrial Technologies in a research report on Tuesday, June 16th. They issued a “buy” rating and a $380.00 price target on the stock. Oppenheimer upped their price objective on Applied Industrial Technologies from $300.00 to $350.00 and gave the company an “outperform” rating in a research note on Wednesday, April 29th. KeyCorp increased their price objective on Applied Industrial Technologies from $350.00 to $375.00 and gave the stock an “overweight” rating in a research report on Monday, July 13th. Finally, Robert W. Baird set a $317.00 target price on Applied Industrial Technologies in a research note on Wednesday, April 29th. Six analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $329.57.

Applied Industrial Technologies 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.