Comerica Bank Sells 15,687 Shares of Applied Industrial Technologies, Inc. $AIT

Comerica Bank lessened its stake in Applied Industrial Technologies, Inc. (NYSE:AIT) by 47.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 17,224 shares of the industrial products company’s stock after selling 15,687 shares during the quarter. Comerica Bank’s holdings in Applied Industrial Technologies were worth $4,423,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC increased its position in shares of Applied Industrial Technologies by 890.0% during the third quarter. Smartleaf Asset Management LLC now owns 99 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 89 shares during the period. Root Financial Partners LLC purchased a new stake in shares of Applied Industrial Technologies in the third quarter valued at approximately $27,000. Abich Financial Wealth Management LLC bought a new position in Applied Industrial Technologies in the third quarter worth approximately $29,000. V Square Quantitative Management LLC bought a new position in Applied Industrial Technologies in the fourth quarter worth approximately $34,000. Finally, Allworth Financial LP increased its holdings in Applied Industrial Technologies by 446.4% during the 3rd quarter. Allworth Financial LP now owns 153 shares of the industrial products company’s stock worth $40,000 after purchasing an additional 125 shares during the period. Institutional investors own 93.52% of the company’s stock.

Insider Activity

In related news, VP Jason W. Vasquez sold 5,447 shares of the business’s stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $287.87, for a total transaction of $1,568,027.89. Following the completion of the transaction, the vice president owned 14,491 shares in the company, valued at $4,171,524.17. The trade was a 27.32% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Warren E. Hoffner III sold 4,000 shares of the stock in a transaction that occurred 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 sale, 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. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 28,654 shares of company stock worth $8,212,829. Corporate insiders own 1.60% of the company’s stock.

Applied Industrial Technologies Stock Down 0.9%

Shares of NYSE AIT opened at $302.85 on Friday. The company has a current ratio of 2.95, a quick ratio of 2.56 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $11.19 billion, a PE ratio of 28.60, a price-to-earnings-growth ratio of 2.89 and a beta of 0.86. The stock’s fifty day simple moving average is $276.67 and its two-hundred day simple moving average is $268.19. Applied Industrial Technologies, Inc. has a 12-month low of $213.78 and a 12-month high of $309.67.

Applied Industrial Technologies (NYSE:AIT) last released its quarterly earnings results on Tuesday, April 28th. The industrial products company reported $2.65 EPS for the quarter, topping the consensus estimate of $2.63 by $0.02. The firm had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.23 billion. Applied Industrial Technologies had a return on equity of 21.64% and a net margin of 8.34%.The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period in the previous year, the company posted $2.57 EPS. Applied Industrial Technologies has set its Q4 2026 guidance at 2.850-2.960 EPS and its FY 2026 guidance at 10.640-10.750 EPS. As a group, analysts expect that Applied Industrial Technologies, Inc. will post 10.7 EPS for the current fiscal year.

Applied Industrial Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Shareholders of record on Friday, May 15th will be given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Friday, May 15th. Applied Industrial Technologies’s dividend payout ratio is presently 19.26%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on AIT. KeyCorp upped their target price on Applied Industrial Technologies from $300.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday, February 26th. Wall Street Zen lowered Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research note on Saturday. Weiss Ratings restated a “buy (b)” rating on shares of Applied Industrial Technologies in a report on Friday, April 24th. Oppenheimer upped their price objective on shares of Applied Industrial Technologies from $300.00 to $350.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, Robert W. Baird set a $317.00 target price on shares of Applied Industrial Technologies in a report on Wednesday. Five analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Applied Industrial Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $313.67.

Applied Industrial Technologies 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.