Advisors Asset Management Inc. Increases Stake in Applied Industrial Technologies, Inc. $AIT

Advisors Asset Management Inc. increased its stake in Applied Industrial Technologies, Inc. (NYSE:AIT) by 1.7% in the second quarter, Holdings Channel reports. The firm owned 12,424 shares of the industrial products company’s stock after purchasing an additional 203 shares during the period. Advisors Asset Management Inc.’s holdings in Applied Industrial Technologies were worth $2,888,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the stock. XTX Topco Ltd lifted its stake in shares of Applied Industrial Technologies by 353.8% during the second quarter. XTX Topco Ltd now owns 21,528 shares of the industrial products company’s stock worth $5,004,000 after buying an additional 16,784 shares during the period. Edmond DE Rothschild Holding S.A. raised its stake in Applied Industrial Technologies by 18.1% in the 2nd quarter. Edmond DE Rothschild Holding S.A. now owns 418 shares of the industrial products company’s stock worth $97,000 after acquiring an additional 64 shares during the last quarter. Bullseye Asset Management LLC lifted its position in Applied Industrial Technologies by 370.4% during the 2nd quarter. Bullseye Asset Management LLC now owns 6,350 shares of the industrial products company’s stock worth $1,476,000 after acquiring an additional 5,000 shares during the period. Steward Partners Investment Advisory LLC grew its stake in Applied Industrial Technologies by 5.0% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 6,884 shares of the industrial products company’s stock valued at $1,600,000 after purchasing an additional 326 shares during the last quarter. Finally, Jefferies Financial Group Inc. purchased a new stake in Applied Industrial Technologies during the 2nd quarter valued at about $933,000. Institutional investors and hedge funds own 93.52% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Weiss Ratings reiterated a “buy (b-)” rating on shares of Applied Industrial Technologies in a research report on Tuesday. Mizuho set a $305.00 price objective on shares of Applied Industrial Technologies in a report on Wednesday, October 29th. Oppenheimer raised their target price on shares of Applied Industrial Technologies from $290.00 to $300.00 and gave the stock an “outperform” rating in a report on Friday, August 15th. Bank of America upped their price target on shares of Applied Industrial Technologies from $275.00 to $290.00 and gave the company a “buy” rating in a report on Friday, August 22nd. Finally, Robert W. Baird lifted their price objective on Applied Industrial Technologies from $265.00 to $300.00 and gave the company an “outperform” rating in a research note on Friday, August 15th. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $287.50.

Applied Industrial Technologies Stock Performance

NYSE:AIT opened at $258.82 on Friday. The company has a current ratio of 3.55, a quick ratio of 2.36 and a debt-to-equity ratio of 0.30. Applied Industrial Technologies, Inc. has a twelve month low of $199.96 and a twelve month high of $280.95. The company’s 50-day moving average price is $254.69 and its 200-day moving average price is $251.52. The company has a market cap of $9.76 billion, a P/E ratio of 24.91, a P/E/G ratio of 2.61 and a beta of 0.99.

Applied Industrial Technologies (NYSE:AIT) last issued its earnings results on Tuesday, October 28th. The industrial products company reported $2.63 EPS for the quarter, topping analysts’ consensus estimates of $2.47 by $0.16. The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.19 billion. Applied Industrial Technologies had a net margin of 8.61% and a return on equity of 21.86%. Applied Industrial Technologies’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.36 earnings per share. Applied Industrial Technologies has set its FY 2026 guidance at 10.100-10.850 EPS. On average, sell-side analysts forecast that Applied Industrial Technologies, Inc. will post 9.9 earnings per share for the current fiscal year.

Applied Industrial Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Friday, November 14th were issued a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Friday, November 14th. Applied Industrial Technologies’s dividend payout ratio is currently 17.71%.

Applied Industrial Technologies Profile

Applied Industrial Technologies, Inc distributes industrial motion, power, control, and automation technology solutions in North America, Australia, New Zealand, and Singapore. It operates in two segments, Service Center Based Distribution, and Engineered Solutions. The company distributes bearings, power transmission products, engineered fluid power components and systems, specialty flow control solutions, advanced automation products, industrial rubber products, linear motion components, automation solutions, tools, safety products, oilfield supplies, and other industrial and maintenance supplies; and motors, belting, drives, couplings, pumps, hydraulic and pneumatic components, filtration supplies, valves, fittings, process instrumentation, actuators, and hoses, filtration supplies, as well as other related supplies for general operational needs of customers' machinery and equipment.