Geode Capital Management LLC Grows Stake in Applied Industrial Technologies, Inc. $AIT

Geode Capital Management LLC grew its position in Applied Industrial Technologies, Inc. (NYSE:AIT) by 0.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 687,161 shares of the industrial products company’s stock after purchasing an additional 1,889 shares during the quarter. Geode Capital Management LLC owned about 1.84% of Applied Industrial Technologies worth $176,479,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. First Trust Advisors LP grew its holdings in shares of Applied Industrial Technologies by 22.7% during the third quarter. First Trust Advisors LP now owns 933,067 shares of the industrial products company’s stock valued at $243,577,000 after buying an additional 172,857 shares during the last quarter. Alps Advisors Inc. grew its holdings in shares of Applied Industrial Technologies by 33.0% during the third quarter. Alps Advisors Inc. now owns 32,824 shares of the industrial products company’s stock valued at $8,569,000 after buying an additional 8,153 shares during the last quarter. Distillate Capital Partners LLC purchased a new stake in shares of Applied Industrial Technologies during the third quarter valued at $13,281,000. Citigroup Inc. grew its holdings in shares of Applied Industrial Technologies by 44.4% during the third quarter. Citigroup Inc. now owns 30,319 shares of the industrial products company’s stock valued at $7,915,000 after buying an additional 9,321 shares during the last quarter. Finally, Westfield Capital Management Co. LP grew its holdings in shares of Applied Industrial Technologies by 6.4% during the third quarter. Westfield Capital Management Co. LP now owns 234,734 shares of the industrial products company’s stock valued at $61,277,000 after buying an additional 14,094 shares during the last quarter. 93.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Applied Industrial Technologies in a report on Friday, April 24th. KeyCorp boosted their price objective on shares of Applied Industrial Technologies from $300.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, February 26th. Oppenheimer boosted their price objective on shares of Applied Industrial Technologies from $300.00 to $350.00 and gave the company an “outperform” rating in a report on Wednesday, April 29th. Robert W. Baird set a $317.00 price objective on shares of Applied Industrial Technologies in a report on Wednesday, April 29th. Finally, Wall Street Zen lowered shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Five 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, the company currently has an average rating of “Moderate Buy” and an average target price of $313.67.

Insider Transactions at Applied Industrial Technologies

In related news, VP Warren E. Hoffner III sold 8,000 shares of the business’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $306.04, for a total transaction of $2,448,320.00. Following the completion of the transaction, the vice president directly owned 40,751 shares in the company, valued at $12,471,436.04. The trade was a 16.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.60% of the stock is owned by corporate insiders.

Applied Industrial Technologies Trading Up 1.6%

NYSE AIT opened at $313.32 on Thursday. The company has a market capitalization of $11.58 billion, a PE ratio of 29.59, a P/E/G ratio of 2.94 and a beta of 0.84. The company has a fifty day moving average of $293.70 and a 200 day moving average of $276.57. Applied Industrial Technologies, Inc. has a 1 year low of $223.13 and a 1 year high of $317.10. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.95 and a quick ratio of 1.97.

Applied Industrial Technologies (NYSE:AIT) last posted its earnings results on Tuesday, April 28th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.63 by $0.02. The company had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.23 billion. Applied Industrial Technologies had a net margin of 8.34% and a return on equity of 21.64%. The firm’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the firm posted $2.57 earnings per share. Applied Industrial Technologies has set its Q4 2026 guidance at 2.850-2.960 EPS and its FY 2026 guidance at 10.640-10.750 EPS. Research analysts forecast that Applied Industrial Technologies, Inc. will post 10.7 earnings per share for the current year.

Applied Industrial Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were given a dividend of $0.51 per share. The ex-dividend date was Friday, May 15th. This represents a $2.04 dividend on an annualized basis and a yield of 0.7%. Applied Industrial Technologies’s payout ratio is currently 19.26%.

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.