Entropy Technologies LP Acquires Shares of 8,704 Applied Industrial Technologies, Inc. $AIT

Entropy Technologies LP bought a new position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) in the first quarter, Holdings Channel reports. The firm bought 8,704 shares of the industrial products company’s stock, valued at approximately $2,309,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. First Trust Advisors LP lifted its stake in shares of Applied Industrial Technologies by 34.3% in the 1st quarter. First Trust Advisors LP now owns 978,840 shares of the industrial products company’s stock valued at $259,706,000 after purchasing an additional 249,961 shares during the period. Capital International Investors grew its stake in shares of Applied Industrial Technologies by 25.4% during the fourth quarter. Capital International Investors now owns 962,925 shares of the industrial products company’s stock worth $247,250,000 after purchasing an additional 195,043 shares during the period. Wellington Management Group LLP grew its stake in shares of Applied Industrial Technologies by 0.9% during the fourth quarter. Wellington Management Group LLP now owns 776,394 shares of the industrial products company’s stock worth $199,355,000 after purchasing an additional 6,953 shares during the period. Dimensional Fund Advisors LP increased its holdings in Applied Industrial Technologies by 0.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 723,700 shares of the industrial products company’s stock valued at $185,833,000 after purchasing an additional 3,348 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in Applied Industrial Technologies by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 687,161 shares of the industrial products company’s stock valued at $176,479,000 after purchasing an additional 1,889 shares during the last quarter. Institutional investors own 93.52% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on AIT shares. Weiss Ratings reissued a “buy (b)” rating on shares of Applied Industrial Technologies in a research note on Tuesday, July 21st. KeyCorp boosted their target price on Applied Industrial Technologies from $350.00 to $375.00 and gave the stock an “overweight” rating in a research report on Monday, July 13th. Oppenheimer upped their price target on Applied Industrial Technologies from $300.00 to $350.00 and gave the company an “outperform” rating in a research note on Wednesday, April 29th. 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 price target on the stock. Finally, Mizuho lifted their price objective on shares of Applied Industrial Technologies from $330.00 to $355.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 21st. Seven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $336.71.

Insider Activity

In other news, Director Madhuri A. Andrews sold 3,845 shares of the company’s stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $329.89, for a total transaction of $1,268,427.05. Following the completion of the transaction, the director directly owned 4,951 shares of the company’s stock, valued at $1,633,285.39. This represents a 43.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Warren E. Hoffner III sold 8,000 shares of the stock in a transaction dated 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 transaction, the vice president owned 40,751 shares of the company’s stock, valued at approximately $12,471,436.04. The trade was a 16.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.60% of the stock is owned by corporate insiders.

Applied Industrial Technologies Trading Up 0.0%

AIT opened at $347.16 on Monday. The stock has a market capitalization of $12.83 billion, a P/E ratio of 32.78, a P/E/G ratio of 2.99 and a beta of 0.83. Applied Industrial Technologies, Inc. has a 12 month low of $238.34 and a 12 month high of $348.09. The firm’s fifty day simple moving average is $323.78 and its 200 day simple moving average 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.

Applied Industrial Technologies (NYSE:AIT) last announced its earnings results on Tuesday, April 28th. The industrial products company reported $2.65 earnings per share for the quarter, topping analysts’ consensus estimates of $2.63 by $0.02. The firm had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.23 billion. Applied Industrial Technologies had a net margin of 8.34% and a return on equity of 21.64%. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period in the prior year, the business earned $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. As a group, research analysts anticipate that Applied Industrial Technologies, Inc. will post 10.71 EPS for the current fiscal year.

Applied Industrial Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Friday, August 14th will be given a dividend of $0.51 per share. 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 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.