Allspring Global Investments Holdings LLC Sells 77,719 Shares of Applied Industrial Technologies, Inc. $AIT

Allspring Global Investments Holdings LLC reduced its stake in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 25.2% in the fourth quarter, HoldingsChannel reports. The firm owned 231,240 shares of the industrial products company’s stock after selling 77,719 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Applied Industrial Technologies were worth $60,037,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AIT. Jones Financial Companies Lllp raised its holdings in Applied Industrial Technologies by 3.3% in the third quarter. Jones Financial Companies Lllp now owns 1,410 shares of the industrial products company’s stock worth $369,000 after purchasing an additional 45 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Applied Industrial Technologies by 7.4% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 653 shares of the industrial products company’s stock valued at $170,000 after buying an additional 45 shares in the last quarter. Quadrant Capital Group LLC boosted its holdings in shares of Applied Industrial Technologies by 1.1% in the 3rd quarter. Quadrant Capital Group LLC now owns 4,631 shares of the industrial products company’s stock valued at $1,209,000 after buying an additional 51 shares in the last quarter. Farther Finance Advisors LLC grew its position in shares of Applied Industrial Technologies by 13.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 457 shares of the industrial products company’s stock worth $119,000 after buying an additional 53 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ raised its stake in shares of Applied Industrial Technologies by 11.9% during the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 516 shares of the industrial products company’s stock worth $135,000 after acquiring an additional 55 shares in the last quarter. Hedge funds and other institutional investors own 93.52% of the company’s stock.

Insiders Place Their Bets

In other news, VP Warren E. Hoffner III sold 4,000 shares of Applied Industrial Technologies stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $288.62, for a total transaction of $1,154,480.00. Following the completion of the transaction, the vice president directly owned 52,751 shares of the company’s stock, valued at $15,224,993.62. The trade was a 7.05% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Jason W. Vasquez sold 5,447 shares of the business’s stock in a transaction 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 transaction, the vice president owned 14,491 shares of the company’s stock, valued at approximately $4,171,524.17. This represents a 27.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 28,654 shares of company stock worth $8,212,829. Corporate insiders own 1.60% of the company’s stock.

Applied Industrial Technologies Price Performance

Shares of AIT opened at $269.42 on Thursday. The business’s 50-day moving average is $272.28 and its two-hundred day moving average is $263.82. The company has a market capitalization of $10.05 billion, a P/E ratio of 25.63, a P/E/G ratio of 2.54 and a beta of 0.82. Applied Industrial Technologies, Inc. has a fifty-two week low of $199.96 and a fifty-two week high of $296.70. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.56 and a current ratio of 3.68.

Applied Industrial Technologies (NYSE:AIT) last issued its quarterly earnings data on Tuesday, January 27th. The industrial products company reported $2.51 earnings per share (EPS) for the quarter, beating 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 business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter in the previous year, the firm posted $2.39 EPS. The company’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. Research analysts predict that Applied Industrial Technologies, Inc. will post 9.9 earnings per share for the current year.

Applied Industrial Technologies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Friday, February 13th were issued a $0.51 dividend. The ex-dividend date of this dividend was Friday, February 13th. This is a boost 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 0.8%. Applied Industrial Technologies’s dividend payout ratio is presently 19.41%.

Wall Street Analyst Weigh In

AIT has been the subject of a number of analyst reports. KeyCorp increased their target price on shares of Applied Industrial Technologies from $300.00 to $330.00 and gave the company an “overweight” rating in a research report on Thursday, February 26th. Wall Street Zen lowered shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a report on Saturday, March 21st. Finally, Weiss Ratings reiterated 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 stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $294.38.

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.