Principal Financial Group Inc. Has $31.32 Million Position in Applied Industrial Technologies, Inc. $AIT

Principal Financial Group Inc. decreased its holdings in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 13.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 119,988 shares of the industrial products company’s stock after selling 19,255 shares during the period. Principal Financial Group Inc. owned 0.32% of Applied Industrial Technologies worth $31,323,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in AIT. Root Financial Partners LLC acquired a new stake in Applied Industrial Technologies in the third quarter worth $27,000. Hantz Financial Services Inc. boosted its holdings 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 worth $30,000 after acquiring an additional 122 shares in the last quarter. First Horizon Corp acquired a new stake in Applied Industrial Technologies in the third quarter valued at approximately $47,000. Headlands Technologies LLC acquired a new position in shares of Applied Industrial Technologies during the second quarter worth approximately $72,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new stake in Applied Industrial Technologies in the 2nd quarter valued at $81,000. 93.52% of the stock is currently owned by institutional investors.

Applied Industrial Technologies Price Performance

AIT stock opened at $292.27 on Friday. The firm has a 50 day moving average of $267.30 and a 200-day moving average of $262.41. The firm has a market capitalization of $10.90 billion, a P/E ratio of 27.81, a price-to-earnings-growth ratio of 2.92 and a beta of 0.84. Applied Industrial Technologies, Inc. has a 12 month low of $199.96 and a 12 month high of $295.26. The company has a current ratio of 3.68, a quick ratio of 2.56 and a debt-to-equity ratio of 0.31.

Applied Industrial Technologies (NYSE:AIT) last released its quarterly earnings results on Tuesday, January 27th. The industrial products company reported $2.51 earnings per share for the quarter, beating analysts’ consensus estimates of $2.48 by $0.03. The business had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.17 billion. Applied Industrial Technologies had a return on equity of 21.74% and a net margin of 8.49%.The company’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter last year, the business posted $2.39 earnings per share. Applied Industrial Technologies has set its FY 2026 guidance at 10.450-10.750 EPS. As a group, 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 company also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 13th will be issued a dividend of $0.51 per share. This is an increase from Applied Industrial Technologies’s previous quarterly dividend of $0.46. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Friday, February 13th. Applied Industrial Technologies’s dividend payout ratio (DPR) is currently 17.51%.

Insider Activity at Applied Industrial Technologies

In other Applied Industrial Technologies news, VP Jason W. Vasquez sold 5,447 shares of Applied Industrial Technologies stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $287.87, for a total transaction of $1,568,027.89. Following the sale, the vice president directly owned 14,491 shares of the company’s stock, valued at approximately $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 can be accessed through this link. Also, CEO Neil A. Schrimsher sold 19,207 shares of Applied Industrial Technologies stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $285.85, for a total value of $5,490,320.95. Following the sale, the chief executive officer owned 130,528 shares in the company, valued at $37,311,428.80. This represents a 12.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 28,654 shares of company stock worth $8,212,829 in the last 90 days. Company insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on AIT shares. Weiss Ratings restated a “buy (b)” rating on shares of Applied Industrial Technologies in a report on Monday, December 29th. Mizuho set a $305.00 price target on Applied Industrial Technologies in a research report on Wednesday, October 29th. KeyCorp cut their price objective on shares of Applied Industrial Technologies from $310.00 to $300.00 and set an “overweight” rating on the stock in a report on Wednesday, January 28th. Finally, Wall Street Zen downgraded shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Six research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Applied Industrial Technologies presently has an average rating of “Moderate Buy” and an average target price of $290.63.

Applied Industrial Technologies Company 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.