Burney Co. Purchases New Shares in Applied Industrial Technologies, Inc. $AIT

Burney Co. purchased a new position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 1,620 shares of the industrial products company’s stock, valued at approximately $430,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Capital International Investors raised its stake 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 worth $247,250,000 after acquiring an additional 195,043 shares during the last quarter. 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 valued at $199,355,000 after purchasing an additional 6,953 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Applied Industrial Technologies by 0.5% during 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. Geode Capital Management LLC increased its holdings in shares of 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 in the last quarter. Finally, Corient Private Wealth LLC increased its holdings in shares of Applied Industrial Technologies by 22,451.0% in the fourth quarter. Corient Private Wealth LLC now owns 585,423 shares of the industrial products company’s stock valued at $150,319,000 after purchasing an additional 582,827 shares in the last quarter. Institutional investors own 93.52% of the company’s stock.

Applied Industrial Technologies Trading Up 2.4%

NYSE:AIT opened at $330.35 on Friday. Applied Industrial Technologies, Inc. has a 1-year low of $238.34 and a 1-year high of $345.48. The business’s 50-day moving average price is $318.64 and its two-hundred day moving average price is $289.99. 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 firm has a market capitalization of $12.21 billion, a price-to-earnings ratio of 31.19, a PEG ratio of 2.79 and a beta of 0.83.

Applied Industrial Technologies (NYSE:AIT) last issued its earnings results on Tuesday, April 28th. The industrial products company reported $2.65 earnings per share (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 company’s revenue was up 7.3% compared to the same quarter last year. During the same quarter last year, the business earned $2.57 earnings per share. 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, equities analysts expect that Applied Industrial Technologies, Inc. will post 10.71 earnings per share for the current year.

Applied Industrial Technologies Dividend Announcement

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

Insider Activity at Applied Industrial Technologies

In related news, 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 completion of the transaction, the vice president owned 40,751 shares in the company, valued at approximately $12,471,436.04. The trade was a 16.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 owned 4,951 shares of the company’s stock, valued at approximately $1,633,285.39. This represents a 43.71% decrease in their position. The SEC filing for this sale provides additional information. 1.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on AIT shares. Oppenheimer boosted their price objective on shares of Applied Industrial Technologies from $300.00 to $350.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 29th. Wall Street Zen lowered Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Weiss Ratings reissued a “buy (b)” rating on shares of Applied Industrial Technologies in a research note on Friday, April 24th. Robert W. Baird set a $317.00 target price on Applied Industrial Technologies in a research report on Wednesday, April 29th. Finally, DA Davidson started coverage on Applied Industrial Technologies in a research report on Tuesday, June 16th. They set a “buy” rating and a $380.00 target price for the company. Six investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $323.14.

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.