Handelsbanken Fonder AB Increases Stake in Applied Industrial Technologies, Inc. $AIT

Handelsbanken Fonder AB grew its holdings in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 14.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 182,623 shares of the industrial products company’s stock after purchasing an additional 23,000 shares during the quarter. Handelsbanken Fonder AB’s holdings in Applied Industrial Technologies were worth $47,674,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of AIT. R Squared Ltd lifted its stake in shares of Applied Industrial Technologies by 27.5% in the third quarter. R Squared Ltd now owns 3,482 shares of the industrial products company’s stock worth $909,000 after buying an additional 752 shares in the last quarter. Westfield Capital Management Co. LP raised its holdings in Applied Industrial Technologies by 6.4% in the 3rd quarter. Westfield Capital Management Co. LP now owns 234,734 shares of the industrial products company’s stock valued at $61,277,000 after acquiring an additional 14,094 shares during the last quarter. US Bancorp DE raised its holdings in Applied Industrial Technologies by 0.5% in the 3rd quarter. US Bancorp DE now owns 47,029 shares of the industrial products company’s stock valued at $12,277,000 after acquiring an additional 218 shares during the last quarter. Fox Run Management L.L.C. purchased a new position in Applied Industrial Technologies in the 3rd quarter worth approximately $351,000. Finally, Waratah Capital Advisors Ltd. acquired a new position in shares of Applied Industrial Technologies during the 3rd quarter worth approximately $362,000. 93.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Applied Industrial Technologies

In related news, VP Warren E. Hoffner III sold 4,000 shares of the business’s stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $288.62, for a total transaction of $1,154,480.00. Following the completion of the transaction, the vice president directly owned 52,751 shares of the company’s stock, valued at $15,224,993.62. The trade was a 7.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 value of $5,490,320.95. Following the sale, the chief executive officer owned 130,528 shares in the company, valued at approximately $37,311,428.80. This trade represents a 12.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 28,654 shares of company stock worth $8,212,829. Company insiders own 1.60% of the company’s stock.

Applied Industrial Technologies Stock Down 0.2%

Shares of NYSE:AIT opened at $282.85 on Friday. The firm has a market capitalization of $10.55 billion, a PE ratio of 26.91, a price-to-earnings-growth ratio of 2.71 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 debt-to-equity ratio of 0.31, a current ratio of 3.68 and a quick ratio of 2.56. The firm’s 50-day moving average is $273.98 and its two-hundred day moving average is $263.84.

Applied Industrial Technologies (NYSE:AIT) last announced its quarterly earnings data 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. Applied Industrial Technologies had a net margin of 8.49% and a return on equity of 21.74%. The firm had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter in the previous year, the business posted $2.39 earnings per share. The business’s quarterly revenue was up 8.4% compared to the same quarter last year. Applied Industrial Technologies has set its FY 2026 guidance at 10.450-10.750 EPS. Analysts predict that Applied Industrial Technologies, Inc. will post 9.9 EPS for the current year.

Applied Industrial Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Friday, February 13th were paid a $0.51 dividend. The ex-dividend date was Friday, February 13th. This is an increase from Applied Industrial Technologies’s previous quarterly dividend of $0.46. This represents a $2.04 annualized dividend and a dividend yield of 0.7%. Applied Industrial Technologies’s payout ratio is 19.41%.

Wall Street Analyst Weigh In

AIT has been the subject of several recent research reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Applied Industrial Technologies in a report on Monday, December 29th. KeyCorp upped their target price on Applied Industrial Technologies from $300.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday. Finally, Wall Street Zen raised Applied Industrial Technologies from a “hold” rating to a “buy” rating in a research note on Saturday. Six analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $294.38.

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.