Inceptionr LLC Purchases Shares of 3,626 Applied Industrial Technologies, Inc. $AIT

Inceptionr LLC acquired a new position in Applied Industrial Technologies, Inc. (NYSE:AIT) during the third quarter, according to its most recent 13F filing with the SEC. The firm acquired 3,626 shares of the industrial products company’s stock, valued at approximately $947,000.

A number of other institutional investors have also modified their holdings of the company. First Trust Advisors LP raised its holdings in Applied Industrial Technologies by 22.7% in the third quarter. First Trust Advisors LP now owns 933,067 shares of the industrial products company’s stock valued at $243,577,000 after buying an additional 172,857 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Applied Industrial Technologies by 1.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 720,352 shares of the industrial products company’s stock valued at $188,040,000 after acquiring an additional 10,408 shares during the period. Norges Bank acquired a new position in shares of Applied Industrial Technologies during the 2nd quarter valued at $107,228,000. Royal London Asset Management Ltd. lifted its stake in shares of Applied Industrial Technologies by 69.2% during the second 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 in the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in shares of Applied Industrial Technologies by 4.1% in the first quarter. Goldman Sachs Group Inc. now owns 381,187 shares of the industrial products company’s stock worth $85,897,000 after buying an additional 14,926 shares during the period. Hedge funds and other institutional investors own 93.52% of the company’s stock.

Applied Industrial Technologies Price Performance

Shares of NYSE:AIT opened at $267.79 on Tuesday. The firm has a market cap of $9.99 billion, a price-to-earnings ratio of 25.48, a P/E/G ratio of 2.56 and a beta of 0.80. Applied Industrial Technologies, Inc. has a 1 year low of $199.96 and a 1 year high of $296.70. The company has a current ratio of 3.68, a quick ratio of 2.56 and a debt-to-equity ratio of 0.31. The business has a fifty day simple moving average of $275.34 and a 200 day simple moving average of $264.25.

Applied Industrial Technologies (NYSE:AIT) last announced its quarterly earnings results on Tuesday, January 27th. The industrial products company reported $2.51 EPS for the quarter, topping the consensus estimate of $2.48 by $0.03. The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.17 billion. Applied Industrial Technologies had a net margin of 8.49% and a return on equity of 21.74%. Applied Industrial Technologies’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.39 EPS. Applied Industrial Technologies has set its FY 2026 guidance at 10.450-10.750 EPS. As a group, sell-side analysts predict that Applied Industrial Technologies, Inc. will post 9.9 earnings per share for the current fiscal year.

Applied Industrial Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Friday, February 13th were issued a $0.51 dividend. 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 0.8%. The ex-dividend date was Friday, February 13th. Applied Industrial Technologies’s dividend payout ratio is currently 19.41%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on AIT. Weiss Ratings reiterated a “buy (b)” rating on shares of Applied Industrial Technologies in a research note on Monday, December 29th. Wall Street Zen raised shares of Applied Industrial Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, February 28th. Finally, KeyCorp boosted their price target on Applied Industrial Technologies from $300.00 to $330.00 and gave the stock an “overweight” rating in a research note on Thursday, February 26th. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $294.38.

Insiders Place Their Bets

In other Applied Industrial Technologies news, CEO Neil A. Schrimsher sold 19,207 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer owned 130,528 shares of the company’s stock, valued at $37,311,428.80. This represents a 12.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Jason W. Vasquez sold 5,447 shares of the stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $287.87, for a total value of $1,568,027.89. Following the transaction, the vice president owned 14,491 shares in the company, valued at approximately $4,171,524.17. This trade represents a 27.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 28,654 shares of company stock valued at $8,212,829 over the last three months. 1.60% of the stock is currently owned by insiders.

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.