Wellington Management Group LLP Sells 122,998 Shares of Applied Industrial Technologies, Inc. $AIT

Wellington Management Group LLP trimmed its position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 16.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 631,562 shares of the industrial products company’s stock after selling 122,998 shares during the quarter. Wellington Management Group LLP’s holdings in Applied Industrial Technologies were worth $213,563,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Compound Planning Inc. raised its holdings in shares of Applied Industrial Technologies by 4.7% in the fourth quarter. Compound Planning Inc. now owns 822 shares of the industrial products company’s stock valued at $211,000 after purchasing an additional 37 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in 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 last quarter. Sanctuary Advisors LLC boosted its holdings in Applied Industrial Technologies by 4.5% during the first quarter. Sanctuary Advisors LLC now owns 1,160 shares of the industrial products company’s stock worth $308,000 after purchasing an additional 50 shares during the last quarter. Focus Partners Wealth grew its position in Applied Industrial Technologies by 4.5% in the 1st quarter. Focus Partners Wealth now owns 1,341 shares of the industrial products company’s stock worth $302,000 after purchasing an additional 58 shares in the last quarter. Finally, Cetera Investment Advisers grew its position in Applied Industrial Technologies by 0.5% in the 4th quarter. Cetera Investment Advisers now owns 10,900 shares of the industrial products company’s stock worth $2,799,000 after purchasing an additional 58 shares in the last quarter. Institutional investors own 93.52% of the company’s stock.

Applied Industrial Technologies Price Performance

AIT opened at $324.20 on Tuesday. Applied Industrial Technologies, Inc. has a fifty-two week low of $238.34 and a fifty-two week high of $374.80. The firm has a 50-day moving average of $340.32 and a 200 day moving average of $308.58. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.75 and a current ratio of 2.58. The firm has a market cap of $11.90 billion, a P/E ratio of 29.58, a PEG ratio of 2.59 and a beta of 0.84.

Applied Industrial Technologies (NYSE:AIT) last announced its quarterly earnings data on Thursday, August 13th. The industrial products company reported $3.17 EPS for the quarter, topping the consensus estimate of $2.92 by $0.25. The business had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.29 billion. Applied Industrial Technologies had a net margin of 8.35% and a return on equity of 22.17%. The company’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.80 earnings per share. Applied Industrial Technologies has set its FY 2027 guidance at 11.650-12.150 EPS. On average, research analysts expect that Applied Industrial Technologies, Inc. will post 11.95 EPS for the current year.

Applied Industrial Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Friday, August 14th were issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Friday, August 14th. Applied Industrial Technologies’s payout ratio is 18.61%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Robert W. Baird lifted their target price on shares of Applied Industrial Technologies from $317.00 to $400.00 and gave the stock an “outperform” rating in a research report on Friday, August 14th. DA Davidson boosted their target price on Applied Industrial Technologies from $380.00 to $400.00 and gave the stock a “buy” rating in a research note on Friday, August 14th. Wall Street Zen raised Applied Industrial Technologies from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. KeyCorp increased their price target on Applied Industrial Technologies from $375.00 to $420.00 and gave the company an “overweight” rating in a research report on Friday, August 14th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Applied Industrial Technologies in a report on Tuesday, July 21st. Seven investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $400.00.

Insider Buying and Selling

In other Applied Industrial Technologies news, Director Madhuri A. Andrews sold 3,845 shares of the firm’s stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $329.89, for a total value of $1,268,427.05. Following the completion of the sale, the director directly owned 4,951 shares of the company’s stock, valued at $1,633,285.39. This trade represents a 43.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO David K. Wells sold 1,812 shares of the business’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $355.10, for a total value of $643,441.20. Following the completion of the sale, the chief financial officer owned 32,050 shares in the company, valued at approximately $11,380,955. The trade was a 5.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 7,561 shares of company stock valued at $2,560,085. 1.60% of the stock is owned by company insiders.

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.