Applied Industrial Technologies, Inc. $AIT Shares Bought by Truist Financial Corp

Truist Financial Corp boosted its position in Applied Industrial Technologies, Inc. (NYSE:AIT) by 26.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,081 shares of the industrial products company’s stock after purchasing an additional 2,933 shares during the period. Truist Financial Corp’s holdings in Applied Industrial Technologies were worth $3,676,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Root Financial Partners LLC bought a new position in Applied Industrial Technologies during the third quarter valued at about $27,000. Hantz Financial Services Inc. lifted its holdings in Applied Industrial Technologies by 2,033.3% in 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 last quarter. First Horizon Corp acquired a new stake in Applied Industrial Technologies in the 3rd quarter valued at about $47,000. Headlands Technologies LLC bought a new position in shares of Applied Industrial Technologies during the 2nd quarter valued at about $72,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new position in shares of Applied Industrial Technologies in the 2nd quarter worth approximately $81,000. 93.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AIT has been the subject of several recent research reports. KeyCorp cut their target price on shares of Applied Industrial Technologies from $310.00 to $300.00 and set an “overweight” rating for the company in a research note on Wednesday, January 28th. Mizuho set a $305.00 price objective on Applied Industrial Technologies in a research report on Wednesday, October 29th. Wall Street Zen cut Applied Industrial Technologies from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Applied Industrial Technologies in a research report 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 company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $290.63.

Applied Industrial Technologies Price Performance

Shares of NYSE:AIT opened at $289.95 on Thursday. The company’s fifty day moving average is $266.04 and its two-hundred day moving average is $262.01. The company has a market cap of $10.82 billion, a P/E ratio of 27.59, a price-to-earnings-growth ratio of 2.78 and a beta of 0.84. Applied Industrial Technologies, Inc. has a 12-month low of $199.96 and a 12-month high of $290.09. The company has a quick ratio of 2.56, a current ratio of 3.68 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 earnings per share for the quarter, beating analysts’ consensus estimates of $2.48 by $0.03. The business had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.17 billion. Applied Industrial Technologies had a return on equity of 21.74% and a net margin of 8.49%.Applied Industrial Technologies’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.39 earnings per share. Applied Industrial Technologies has set its FY 2026 guidance at 10.450-10.750 EPS. Equities analysts expect that Applied Industrial Technologies, Inc. will post 9.9 earnings per share for the current fiscal year.

Applied Industrial Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Friday, February 13th will be given a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, February 13th. This is a boost from Applied Industrial Technologies’s previous quarterly dividend of $0.46. This represents a $2.04 dividend on an annualized basis and a yield of 0.7%. Applied Industrial Technologies’s payout ratio is presently 17.51%.

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.