Applied Industrial Technologies, Inc. $AIT Shares Sold by Rockefeller Capital Management L.P.

Rockefeller Capital Management L.P. cut its stake in Applied Industrial Technologies, Inc. (NYSE:AIT) by 10.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 56,155 shares of the industrial products company’s stock after selling 6,268 shares during the period. Rockefeller Capital Management L.P. owned about 0.15% of Applied Industrial Technologies worth $14,419,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Goldman Sachs Group Inc. increased its position in shares of Applied Industrial Technologies by 4.1% during the first quarter. Goldman Sachs Group Inc. now owns 381,187 shares of the industrial products company’s stock worth $85,897,000 after purchasing an additional 14,926 shares in the last quarter. Empowered Funds LLC acquired a new stake in shares of Applied Industrial Technologies in the 1st quarter valued at about $318,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Applied Industrial Technologies by 12.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 98,348 shares of the industrial products company’s stock worth $22,162,000 after buying an additional 10,863 shares during the last quarter. Focus Partners Wealth grew its stake in Applied Industrial Technologies by 4.5% during the 1st quarter. Focus Partners Wealth now owns 1,341 shares of the industrial products company’s stock worth $302,000 after buying an additional 58 shares during the last quarter. Finally, M&T Bank Corp acquired a new position in Applied Industrial Technologies during the second quarter worth approximately $217,000. Institutional investors and hedge funds own 93.52% of the company’s stock.

Applied Industrial Technologies Trading Down 2.2%

Shares of AIT stock opened at $330.73 on Wednesday. The business’s 50 day moving average is $308.92 and its two-hundred day moving average is $283.73. Applied Industrial Technologies, Inc. has a twelve month low of $223.13 and a twelve month high of $340.37. The company has a market capitalization of $12.22 billion, a P/E ratio of 31.23, a price-to-earnings-growth ratio of 3.22 and a beta of 0.84. 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 released its quarterly 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 return on equity of 21.64% and a net margin of 8.34%.The business had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.23 billion. During the same quarter in the prior year, the business earned $2.57 earnings per share. The company’s quarterly revenue was up 7.3% compared to the same quarter last year. 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 forecast that Applied Industrial Technologies, Inc. will post 10.71 EPS for the current year.

Applied Industrial Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Friday, August 14th will be paid 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 currently 19.26%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on AIT. Robert W. Baird set a $317.00 price objective on Applied Industrial Technologies in a report on Wednesday, April 29th. Oppenheimer lifted their target price 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. Wall Street Zen downgraded shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Weiss Ratings reiterated a “buy (b)” rating on shares of Applied Industrial Technologies in a research note on Friday, April 24th. Finally, DA Davidson initiated coverage on shares of Applied Industrial Technologies in a research report on Tuesday, June 16th. They set a “buy” rating and a $380.00 price objective on the stock. Six analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $323.14.

Insider Buying and Selling at Applied Industrial Technologies

In other news, VP Warren E. Hoffner III sold 8,000 shares of Applied Industrial Technologies stock in a transaction dated 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 sale, the vice president owned 40,751 shares of the company’s stock, valued at $12,471,436.04. The trade was a 16.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Madhuri A. Andrews sold 3,845 shares of Applied Industrial Technologies stock in a transaction dated 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 completion of the sale, the director directly owned 4,951 shares in the company, valued at approximately $1,633,285.39. The trade was a 43.71% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 1.60% of the company’s stock.

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.