Applied Industrial Technologies, Inc. $AIT Shares Sold by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC lowered its position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 15.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 19,802 shares of the industrial products company’s stock after selling 3,542 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Applied Industrial Technologies were worth $5,085,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in AIT. Jones Financial Companies Lllp increased its holdings in shares of Applied Industrial Technologies by 3.3% in the third quarter. Jones Financial Companies Lllp now owns 1,410 shares of the industrial products company’s stock valued at $369,000 after purchasing an additional 45 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Applied Industrial Technologies by 7.4% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 653 shares of the industrial products company’s stock worth $170,000 after purchasing an additional 45 shares during the period. Quadrant Capital Group LLC lifted its holdings in shares of Applied Industrial Technologies by 1.1% during the third quarter. Quadrant Capital Group LLC now owns 4,631 shares of the industrial products company’s stock worth $1,209,000 after purchasing an additional 51 shares during the period. Farther Finance Advisors LLC boosted its position in Applied Industrial Technologies by 13.1% in the third quarter. Farther Finance Advisors LLC now owns 457 shares of the industrial products company’s stock valued at $119,000 after buying an additional 53 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ boosted its position in Applied Industrial Technologies by 11.9% in the third quarter. Skandinaviska Enskilda Banken AB publ now owns 516 shares of the industrial products company’s stock valued at $135,000 after buying an additional 55 shares during the last quarter. Hedge funds and other institutional investors own 93.52% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on AIT. KeyCorp raised their price target on shares of Applied Industrial Technologies from $300.00 to $330.00 and gave the stock an “overweight” rating in a research report on Thursday, February 26th. Wall Street Zen downgraded shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a report on Saturday, March 21st. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Applied Industrial Technologies in a research note on Monday, December 29th. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $294.38.

Applied Industrial Technologies Price Performance

Shares of Applied Industrial Technologies stock opened at $260.30 on Friday. The firm has a market cap of $9.71 billion, a PE ratio of 24.77, a P/E/G ratio of 2.50 and a beta of 0.81. Applied Industrial Technologies, Inc. has a twelve month low of $199.96 and a twelve month high of $296.70. The company has a quick ratio of 2.56, a current ratio of 3.68 and a debt-to-equity ratio of 0.31. The business has a 50-day moving average price of $273.29 and a 200 day moving average price of $263.85.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $2.48 by $0.03. Applied Industrial Technologies had a return on equity of 21.74% and a net margin of 8.49%.The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the prior year, the business posted $2.39 earnings per share. Applied Industrial Technologies’s revenue for the quarter was up 8.4% on a year-over-year basis. Applied Industrial Technologies has set its FY 2026 guidance at 10.450-10.750 EPS. 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 announced a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Friday, February 13th were given a dividend of $0.51 per share. This is a positive change from Applied Industrial Technologies’s previous quarterly dividend of $0.46. The ex-dividend date was Friday, February 13th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.8%. Applied Industrial Technologies’s payout ratio is 19.41%.

Insider Activity at Applied Industrial Technologies

In other Applied Industrial Technologies news, VP Warren E. Hoffner III sold 4,000 shares of the company’s stock in a transaction on Thursday, February 5th. The shares were 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 in the company, valued at approximately $15,224,993.62. This represents a 7.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Neil A. Schrimsher sold 19,207 shares of the stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $285.85, for a total transaction of $5,490,320.95. Following the transaction, the chief executive officer directly owned 130,528 shares in the company, valued at approximately $37,311,428.80. The trade was a 12.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 28,654 shares of company stock valued at $8,212,829. 1.60% of the stock is owned by company insiders.

About Applied Industrial Technologies

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.