Applied Industrial Technologies, Inc. $AIT Stock Holdings Lowered by Victory Capital Management Inc.

Victory Capital Management Inc. trimmed its holdings in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 45.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 86,330 shares of the industrial products company’s stock after selling 71,308 shares during the period. Victory Capital Management Inc.’s holdings in Applied Industrial Technologies were worth $22,536,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Norges Bank acquired a new stake in shares of Applied Industrial Technologies during the 2nd quarter valued at $107,228,000. Royal London Asset Management Ltd. grew its holdings in shares of Applied Industrial Technologies by 69.2% in the 2nd quarter. Royal London Asset Management Ltd. now owns 393,743 shares of the industrial products company’s stock worth $91,526,000 after acquiring an additional 161,048 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Applied Industrial Technologies by 4.1% during the first quarter. Goldman Sachs Group Inc. now owns 381,187 shares of the industrial products company’s stock worth $85,897,000 after purchasing an additional 14,926 shares during the period. Bank of America Corp DE raised its position in shares of Applied Industrial Technologies by 47.8% during the second quarter. Bank of America Corp DE now owns 374,627 shares of the industrial products company’s stock worth $87,082,000 after purchasing an additional 121,163 shares during the period. Finally, Qube Research & Technologies Ltd purchased a new stake in shares of Applied Industrial Technologies during the second quarter valued at $81,722,000. Institutional investors own 93.52% of the company’s stock.

Applied Industrial Technologies Stock Performance

Shares of AIT stock opened at $267.79 on Tuesday. Applied Industrial Technologies, Inc. has a 1-year low of $199.96 and a 1-year high of $296.70. 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 $9.99 billion, a price-to-earnings ratio of 25.48, a P/E/G ratio of 2.56 and a beta of 0.80. The stock’s fifty day simple moving average is $275.34 and its 200-day simple moving average is $264.25.

Applied Industrial Technologies (NYSE:AIT) last announced its quarterly earnings data on Tuesday, January 27th. The industrial products company reported $2.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.48 by $0.03. Applied Industrial Technologies had a return on equity of 21.74% and a net margin of 8.49%.The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same period in the prior year, the business earned $2.39 EPS. The business’s revenue for the quarter was up 8.4% on a year-over-year basis. Applied Industrial Technologies has set its FY 2026 guidance at 10.450-10.750 EPS. On average, 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 business also recently declared a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Friday, February 13th were given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.8%. This is a positive change from Applied Industrial Technologies’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Friday, February 13th. Applied Industrial Technologies’s payout ratio is currently 19.41%.

Insider Buying and Selling

In related news, VP Jason W. Vasquez sold 5,447 shares of the firm’s stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $287.87, for a total transaction of $1,568,027.89. Following the completion of the sale, the vice president directly owned 14,491 shares in the company, valued at approximately $4,171,524.17. This trade represents a 27.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Neil A. Schrimsher sold 19,207 shares of the business’s stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $285.85, for a total transaction of $5,490,320.95. Following the transaction, the chief executive officer directly owned 130,528 shares in the company, valued at $37,311,428.80. The trade was a 12.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 28,654 shares of company stock worth $8,212,829. 1.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on AIT shares. Wall Street Zen upgraded Applied Industrial Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, February 28th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Applied Industrial Technologies in a research note on Monday, December 29th. Finally, KeyCorp raised their target price on shares of Applied Industrial Technologies from $300.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday, February 26th. Six analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $294.38.

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.