Regents Gate Capital LLP Sells 17,835 Shares of Applied Industrial Technologies, Inc. $AIT

Regents Gate Capital LLP lowered its stake in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 36.4% during the 3rd quarter, Holdings Channel.com reports. The fund owned 31,153 shares of the industrial products company’s stock after selling 17,835 shares during the quarter. Applied Industrial Technologies makes up approximately 2.9% of Regents Gate Capital LLP’s portfolio, making the stock its 15th largest holding. Regents Gate Capital LLP’s holdings in Applied Industrial Technologies were worth $8,132,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in shares of Applied Industrial Technologies during the second quarter valued at approximately $107,228,000. Royal London Asset Management Ltd. grew its position in Applied Industrial Technologies by 69.2% in the 2nd quarter. Royal London Asset Management Ltd. now owns 393,743 shares of the industrial products company’s stock worth $91,526,000 after purchasing an additional 161,048 shares during the period. Goldman Sachs Group Inc. raised its stake in Applied Industrial Technologies by 4.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 381,187 shares of the industrial products company’s stock valued at $85,897,000 after buying an additional 14,926 shares during the last quarter. Bank of America Corp DE raised its stake in Applied Industrial Technologies by 47.8% during the 2nd quarter. Bank of America Corp DE now owns 374,627 shares of the industrial products company’s stock valued at $87,082,000 after buying an additional 121,163 shares during the last quarter. Finally, Qube Research & Technologies Ltd bought a new position in shares of Applied Industrial Technologies during the 2nd quarter valued at $81,722,000. 93.52% of the stock is currently owned by institutional investors.

Applied Industrial Technologies Stock Performance

Shares of AIT opened at $282.85 on Monday. The business has a 50-day simple moving average of $273.98 and a two-hundred day simple moving average of $263.71. 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, Inc. has a 52 week low of $199.96 and a 52 week high of $296.70. The stock has a market cap of $10.55 billion, a price-to-earnings ratio of 26.91, a PEG ratio of 2.70 and a beta of 0.80.

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 (EPS) for the quarter, beating analysts’ consensus estimates of $2.48 by $0.03. The company had revenue of $1.16 billion during 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%.The firm’s revenue was up 8.4% on a year-over-year basis. During the same period in the previous year, the company posted $2.39 EPS. Applied Industrial Technologies has set its FY 2026 guidance at 10.450-10.750 EPS. On average, analysts expect that Applied Industrial Technologies, Inc. will post 9.9 EPS for the current year.

Applied Industrial Technologies Increases Dividend

The company 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. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.7%. This is a boost from Applied Industrial Technologies’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Friday, February 13th. Applied Industrial Technologies’s dividend payout ratio is currently 19.41%.

Insider Activity

In other Applied Industrial Technologies news, CEO Neil A. Schrimsher sold 19,207 shares of the firm’s stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $285.85, for a total transaction of $5,490,320.95. Following the sale, the chief executive officer directly owned 130,528 shares of the company’s stock, valued at $37,311,428.80. This trade represents a 12.83% 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, VP Warren E. Hoffner III sold 4,000 shares of the business’s stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $288.62, for a total value of $1,154,480.00. Following the completion of the transaction, the vice president owned 52,751 shares in the company, valued at $15,224,993.62. The trade was a 7.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 28,654 shares of company stock worth $8,212,829 in the last three months. Company insiders own 1.60% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on AIT shares. Wall Street Zen raised Applied Industrial Technologies from a “hold” rating to a “buy” rating in a report on Saturday. Weiss Ratings reissued a “buy (b)” rating on shares of Applied Industrial Technologies in a research report on Monday, December 29th. Finally, KeyCorp upped their price target on shares of Applied Industrial Technologies from $300.00 to $330.00 and gave the company an “overweight” rating in a research report on Thursday. Six analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company has a consensus 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.