Applied Industrial Technologies, Inc. $AIT Shares Sold by Granite Investment Partners LLC

Granite Investment Partners LLC decreased its position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 14.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 16,287 shares of the industrial products company’s stock after selling 2,698 shares during the period. Granite Investment Partners LLC’s holdings in Applied Industrial Technologies were worth $3,786,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Rise Advisors LLC lifted its stake in shares of Applied Industrial Technologies by 111.1% during the 1st quarter. Rise Advisors LLC now owns 133 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 70 shares during the period. Hantz Financial Services Inc. increased its stake in Applied Industrial Technologies by 2,033.3% in the second quarter. Hantz Financial Services Inc. now owns 128 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 122 shares during the last quarter. Maseco LLP purchased a new position in Applied Industrial Technologies during the second quarter worth about $35,000. SVB Wealth LLC acquired a new stake in Applied Industrial Technologies in the 1st quarter worth about $48,000. Finally, Harbor Investment Advisory LLC boosted its stake in Applied Industrial Technologies by 100.6% in the 2nd quarter. Harbor Investment Advisory LLC now owns 321 shares of the industrial products company’s stock worth $75,000 after buying an additional 161 shares during the last quarter. 93.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on AIT. Raymond James Financial cut shares of Applied Industrial Technologies from an “outperform” rating to a “market perform” rating in a research report on Friday, August 15th. Industrial Alliance Securities set a $290.00 price target on shares of Applied Industrial Technologies in a research note on Friday, August 22nd. Weiss Ratings reissued a “buy (b-)” rating on shares of Applied Industrial Technologies in a research note on Monday. Mizuho set a $305.00 price objective on Applied Industrial Technologies in a report on Wednesday, October 29th. Finally, Robert W. Baird lifted their target price on Applied Industrial Technologies from $265.00 to $300.00 and gave the company an “outperform” rating in a report on Friday, August 15th. Six equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Applied Industrial Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $287.50.

Applied Industrial Technologies Stock Performance

Shares of AIT stock opened at $257.45 on Wednesday. The company has a current ratio of 3.55, a quick ratio of 2.50 and a debt-to-equity ratio of 0.30. The company has a market cap of $9.71 billion, a PE ratio of 24.78, a P/E/G ratio of 2.62 and a beta of 0.85. The company’s fifty day simple moving average is $254.36 and its 200-day simple moving average is $252.13. Applied Industrial Technologies, Inc. has a 52 week low of $199.96 and a 52 week high of $280.95.

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

Applied Industrial Technologies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 28th. Investors of record on Friday, November 14th were issued a dividend of $0.46 per share. 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 (DPR) is presently 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.