Capital World Investors Has $89.36 Million Holdings in Applied Industrial Technologies, Inc. $AIT

Capital World Investors grew its holdings in Applied Industrial Technologies, Inc. (NYSE:AIT) by 3.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 348,005 shares of the industrial products company’s stock after purchasing an additional 12,386 shares during the period. Capital World Investors owned about 0.93% of Applied Industrial Technologies worth $89,357,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Capital International Investors raised its holdings in shares of Applied Industrial Technologies by 25.4% in the fourth quarter. Capital International Investors now owns 962,925 shares of the industrial products company’s stock valued at $247,250,000 after purchasing an additional 195,043 shares during the last quarter. First Trust Advisors LP increased its holdings in 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 worth $243,577,000 after buying an additional 172,857 shares during the last quarter. Wellington Management Group LLP increased its holdings in Applied Industrial Technologies by 24.7% during the third quarter. Wellington Management Group LLP now owns 769,441 shares of the industrial products company’s stock worth $200,863,000 after buying an additional 152,197 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Applied Industrial Technologies by 1.5% during the third quarter. Dimensional Fund Advisors LP now owns 720,352 shares of the industrial products company’s stock worth $188,040,000 after buying an additional 10,408 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in Applied Industrial Technologies by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 687,161 shares of the industrial products company’s stock worth $176,479,000 after buying an additional 1,889 shares during the last quarter. 93.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Applied Industrial Technologies

In other Applied Industrial Technologies news, VP Warren E. Hoffner III sold 8,000 shares of the company’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $306.04, for a total value of $2,448,320.00. Following 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 Securities & Exchange Commission, which is available at this hyperlink. 1.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages recently weighed in on AIT. Weiss Ratings restated a “buy (b)” rating on shares of Applied Industrial Technologies in a report on Friday, April 24th. Robert W. Baird set a $317.00 target price on shares of Applied Industrial Technologies in a report on Wednesday, April 29th. Wall Street Zen downgraded shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. KeyCorp boosted 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. Finally, Oppenheimer boosted their target price on shares of Applied Industrial Technologies from $300.00 to $350.00 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. Five investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $313.67.

Applied Industrial Technologies Price Performance

NYSE:AIT opened at $322.91 on Wednesday. Applied Industrial Technologies, Inc. has a one year low of $223.13 and a one year high of $324.34. The company has a market cap of $11.93 billion, a P/E ratio of 30.49, a P/E/G ratio of 3.00 and a beta of 0.84. The firm’s fifty day moving average price is $298.02 and its two-hundred day moving average price is $278.62. 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 released its quarterly earnings data on Tuesday, April 28th. The industrial products company reported $2.65 EPS for the quarter, beating the consensus estimate of $2.63 by $0.02. Applied Industrial Technologies had a net margin of 8.34% and a return on equity of 21.64%. The firm had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.23 billion. During the same period in the previous year, the company earned $2.57 earnings per share. The company’s quarterly revenue was up 7.3% on a year-over-year basis. 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. Equities analysts expect that Applied Industrial Technologies, Inc. will post 10.7 earnings per share for the current year.

Applied Industrial Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were issued a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Friday, May 15th. Applied Industrial Technologies’s payout ratio is currently 19.26%.

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.