Applied Industrial Technologies, Inc. $AIT Shares Purchased by Bank of Nova Scotia

Bank of Nova Scotia lifted its holdings in Applied Industrial Technologies, Inc. (NYSE:AIT) by 141.9% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 41,500 shares of the industrial products company’s stock after buying an additional 24,345 shares during the quarter. Bank of Nova Scotia’s holdings in Applied Industrial Technologies were worth $11,011,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Torren Management LLC bought a new stake in shares of Applied Industrial Technologies during the 4th quarter valued at about $25,000. Anchor Investment Management LLC bought a new position in Applied Industrial Technologies during the 4th quarter worth $32,000. V Square Quantitative Management LLC acquired a new stake in Applied Industrial Technologies in the fourth quarter worth $34,000. Allworth Financial LP lifted its stake in Applied Industrial Technologies by 446.4% in the third quarter. Allworth Financial LP now owns 153 shares of the industrial products company’s stock valued at $40,000 after buying an additional 125 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its stake in Applied Industrial Technologies by 78.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 177 shares of the industrial products company’s stock valued at $46,000 after buying an additional 78 shares during the last quarter. 93.52% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Applied Industrial Technologies

In related news, Director Madhuri A. Andrews sold 3,845 shares of the business’s stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $329.89, for a total transaction of $1,268,427.05. Following the transaction, the director directly owned 4,951 shares of the company’s stock, valued at approximately $1,633,285.39. The trade was a 43.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Warren E. Hoffner III sold 8,000 shares of the business’s stock in a transaction that occurred 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 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. Additional details regarding this sale are available in the official SEC disclosure. 1.60% of the stock is owned by corporate insiders.

Applied Industrial Technologies Price Performance

NYSE AIT opened at $347.16 on Monday. The stock’s 50-day moving average price is $323.78 and its two-hundred day moving average price is $295.42. The company has a current ratio of 2.95, a quick ratio of 1.97 and a debt-to-equity ratio of 0.19. The company has a market cap of $12.83 billion, a PE ratio of 32.78, a PEG ratio of 2.99 and a beta of 0.83. Applied Industrial Technologies, Inc. has a 1 year low of $238.34 and a 1 year high of $348.09.

Applied Industrial Technologies (NYSE:AIT) last announced its earnings results on Tuesday, April 28th. The industrial products company reported $2.65 EPS for the quarter, topping 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 company had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.23 billion. During the same period last year, the company posted $2.57 earnings per share. The business’s revenue for the quarter 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. On average, analysts predict that Applied Industrial Technologies, Inc. will post 10.71 EPS for the current year.

Applied Industrial Technologies Dividend Announcement

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

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. DA Davidson began coverage on shares of Applied Industrial Technologies in a research report on Tuesday, June 16th. They issued a “buy” rating and a $380.00 target price for the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Applied Industrial Technologies in a report on Tuesday, July 21st. KeyCorp raised their target price on Applied Industrial Technologies from $350.00 to $375.00 and gave the company an “overweight” rating in a research report on Monday, July 13th. Oppenheimer upped their price objective 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. Finally, Mizuho raised their price objective on shares of Applied Industrial Technologies from $330.00 to $355.00 and gave the company an “outperform” rating in a research note on Tuesday, July 21st. Seven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $336.71.

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.