Louisiana State Employees Retirement System Takes Position in Applied Industrial Technologies, Inc. $AIT

Louisiana State Employees Retirement System bought a new stake in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 10,800 shares of the industrial products company’s stock, valued at approximately $2,865,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AIT. Distillate Capital Partners LLC purchased a new stake in shares of Applied Industrial Technologies in the 3rd quarter worth about $13,281,000. First Trust Advisors LP increased its position 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 period. Citigroup Inc. increased its position 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 period. Barclays PLC raised its stake in Applied Industrial Technologies by 91.4% in the third quarter. Barclays PLC now owns 100,244 shares of the industrial products company’s stock worth $26,169,000 after buying an additional 47,868 shares in the last quarter. Finally, Tudor Investment Corp ET AL lifted its holdings in Applied Industrial Technologies by 39.8% in the third quarter. Tudor Investment Corp ET AL now owns 124,185 shares of the industrial products company’s stock worth $32,418,000 after buying an additional 35,374 shares during the period. Hedge funds and other institutional investors own 93.52% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. DA Davidson started coverage on Applied Industrial Technologies in a report on Tuesday, June 16th. They set a “buy” rating and a $380.00 target price on the stock. Wall Street Zen cut Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Weiss Ratings restated a “buy (b)” rating on shares of Applied Industrial Technologies in a research report on Friday, April 24th. Robert W. Baird set a $317.00 price target on Applied Industrial Technologies in a research note on Wednesday, April 29th. Finally, Oppenheimer increased their price objective on Applied Industrial Technologies from $300.00 to $350.00 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. Six research 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, Applied Industrial Technologies has an average rating of “Moderate Buy” and a consensus target price of $323.14.

Applied Industrial Technologies Price Performance

Shares of NYSE AIT opened at $336.97 on Monday. The company has a 50 day simple moving average of $311.79 and a two-hundred day simple moving average of $285.42. Applied Industrial Technologies, Inc. has a fifty-two week low of $230.44 and a fifty-two week high of $345.48. The company has a market capitalization of $12.45 billion, a price-to-earnings ratio of 31.82, a P/E/G ratio of 3.21 and a beta of 0.84. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.97 and a current ratio of 2.95.

Applied Industrial Technologies (NYSE:AIT) last issued its quarterly earnings results on Tuesday, April 28th. The industrial products company reported $2.65 EPS for the quarter, topping analysts’ consensus estimates of $2.63 by $0.02. The firm had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.23 billion. Applied Industrial Technologies had a return on equity of 21.64% and a net margin of 8.34%.The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.57 EPS. 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. Analysts expect that Applied Industrial Technologies, Inc. will post 10.71 EPS for the current fiscal year.

Applied Industrial Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Friday, August 14th will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Friday, August 14th. Applied Industrial Technologies’s payout ratio is 19.26%.

Insider Buying and Selling at Applied Industrial Technologies

In other news, VP Warren E. Hoffner III sold 8,000 shares of the stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $306.04, for a total value of $2,448,320.00. Following the sale, the vice president directly owned 40,751 shares of the company’s stock, valued at approximately $12,471,436.04. This represents a 16.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Madhuri A. Andrews sold 3,845 shares of the firm’s stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $329.89, for a total value of $1,268,427.05. Following the transaction, the director owned 4,951 shares of the company’s stock, valued at $1,633,285.39. The trade was a 43.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 1.60% of the company’s stock.

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.