Bessemer Group Inc. Has $31.38 Million Stake in Applied Industrial Technologies, Inc. $AIT

Bessemer Group Inc. lowered its position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 6.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 118,275 shares of the industrial products company’s stock after selling 8,790 shares during the period. Bessemer Group Inc.’s holdings in Applied Industrial Technologies were worth $31,382,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in the company. Torren Management LLC bought a new stake in Applied Industrial Technologies in the 4th quarter valued at $25,000. Anchor Investment Management LLC acquired a new stake in shares of Applied Industrial Technologies during the fourth quarter worth $32,000. V Square Quantitative Management LLC acquired a new stake in shares of Applied Industrial Technologies during the fourth quarter worth $34,000. Allworth Financial LP boosted its position in shares of 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 acquiring an additional 125 shares during the period. Finally, Smartleaf Asset Management LLC boosted its position in shares of 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 acquiring an additional 78 shares during the period. Institutional investors own 93.52% of the company’s stock.

Applied Industrial Technologies Price Performance

Shares of NYSE:AIT opened at $336.35 on Friday. The firm has a 50 day moving average of $320.78 and a 200-day moving average of $292.32. Applied Industrial Technologies, Inc. has a 12 month low of $238.34 and a 12 month high of $345.48. 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 stock has a market capitalization of $12.43 billion, a PE ratio of 31.76, a PEG ratio of 2.91 and a beta of 0.83.

Applied Industrial Technologies (NYSE:AIT) last posted its quarterly earnings results on Tuesday, April 28th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.63 by $0.02. The business had revenue of $1.25 billion for 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 firm’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter last year, the business 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. On average, equities research analysts predict that Applied Industrial Technologies, Inc. will post 10.71 EPS for the current fiscal year.

Applied Industrial Technologies Dividend Announcement

The firm 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 dividend on an annualized basis 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 currently 19.26%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Applied Industrial Technologies in a research note on Friday, April 24th. Wall Street Zen downgraded shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. DA Davidson assumed coverage on Applied Industrial Technologies in a research note on Tuesday, June 16th. They issued a “buy” rating and a $380.00 price target for the company. Robert W. Baird set a $317.00 price target on Applied Industrial Technologies in a research report on Wednesday, April 29th. Finally, KeyCorp increased their target price on Applied Industrial Technologies from $350.00 to $375.00 and gave the stock an “overweight” rating in a report on Monday, July 13th. Six investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $329.57.

Insiders Place Their Bets

In other news, Director Madhuri A. Andrews sold 3,845 shares of Applied Industrial Technologies stock in a transaction on Thursday, June 18th. The stock was 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 in the company, valued at approximately $1,633,285.39. This trade represents a 43.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Warren E. Hoffner III sold 8,000 shares of Applied Industrial Technologies stock in a transaction on 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 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 position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.60% of the company’s stock.

Applied Industrial Technologies Company 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.