Applied Industrial Technologies (NYSE:AIT) CEO Sells $5,490,320.95 in Stock

Applied Industrial Technologies, Inc. (NYSE:AIT) CEO Neil Schrimsher sold 19,207 shares of the firm’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $285.85, for a total value of $5,490,320.95. Following the sale, the chief executive officer directly owned 130,528 shares of the company’s stock, valued at approximately $37,311,428.80. This trade represents a 12.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Applied Industrial Technologies Stock Up 1.8%

Shares of NYSE:AIT opened at $292.27 on Monday. The company has a current ratio of 3.68, a quick ratio of 2.56 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $10.90 billion, a price-to-earnings ratio of 27.81, a PEG ratio of 2.97 and a beta of 0.84. The business has a 50-day moving average price of $267.30 and a 200 day moving average price of $262.36. Applied Industrial Technologies, Inc. has a 12-month low of $199.96 and a 12-month high of $295.26.

Applied Industrial Technologies (NYSE:AIT) last announced 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 during the quarter, compared to analysts’ expectations of $1.17 billion. Applied Industrial Technologies had a net margin of 8.49% and a return on equity of 21.74%. The business’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period last year, the business earned $2.39 earnings per share. Applied Industrial Technologies has set its FY 2026 guidance at 10.450-10.750 EPS. Sell-side analysts expect that Applied Industrial Technologies, Inc. will post 9.9 EPS for the current year.

Applied Industrial Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 13th will be given a $0.51 dividend. The ex-dividend date of this dividend is Friday, February 13th. This is a positive change from Applied Industrial Technologies’s previous quarterly dividend of $0.46. This represents a $2.04 dividend on an annualized basis and a yield of 0.7%. Applied Industrial Technologies’s dividend payout ratio is presently 17.51%.

Analyst Ratings Changes

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

Hedge Funds Weigh In On Applied Industrial Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in AIT. Capital International Investors acquired a new stake in Applied Industrial Technologies in the third quarter valued at approximately $200,456,000. Norges Bank purchased a new stake in shares of Applied Industrial Technologies in the 2nd quarter valued at approximately $107,228,000. Qube Research & Technologies Ltd acquired a new stake in shares of Applied Industrial Technologies in the 2nd quarter valued at $81,722,000. M&T Bank Corp raised its holdings in shares of Applied Industrial Technologies by 33,181.4% in the 4th quarter. M&T Bank Corp now owns 300,864 shares of the industrial products company’s stock valued at $81,322,000 after purchasing an additional 299,960 shares in the last quarter. Finally, Dundas Partners LLP lifted its position in shares of Applied Industrial Technologies by 12,956.0% during the 2nd quarter. Dundas Partners LLP now owns 266,212 shares of the industrial products company’s stock worth $61,881,000 after purchasing an additional 264,173 shares during the last quarter. Hedge funds and other institutional investors own 93.52% of the company’s stock.

About Applied Industrial Technologies

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.