Insider Selling: Applied Industrial Technologies (NYSE:AIT) CEO Sells 19,207 Shares of Stock

Applied Industrial Technologies, Inc. (NYSE:AIT) CEO Neil Schrimsher sold 19,207 shares of Applied Industrial Technologies stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $285.85, for a total transaction of $5,490,320.95. Following the sale, the chief executive officer directly owned 130,528 shares in the company, valued at approximately $37,311,428.80. This trade represents a 12.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Applied Industrial Technologies Price Performance

Shares of NYSE AIT traded up $5.24 during mid-day trading on Friday, reaching $292.27. The company’s stock had a trading volume of 409,726 shares, compared to its average volume of 380,281. The stock has a 50-day moving average of $266.63 and a two-hundred day moving average of $262.19. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.56 and a current ratio of 3.68. The stock has a market capitalization of $10.90 billion, a P/E ratio of 27.81, a P/E/G ratio of 2.95 and a beta of 0.84. Applied Industrial Technologies, Inc. has a 1-year low of $199.96 and a 1-year high of $295.26.

Applied Industrial Technologies (NYSE:AIT) last announced its quarterly earnings data on Tuesday, January 27th. The industrial products company reported $2.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.48 by $0.03. The company had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.17 billion. Applied Industrial Technologies had a net margin of 8.49% and a return on equity of 21.74%. Applied Industrial Technologies’s revenue was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.39 EPS. Applied Industrial Technologies has set its FY 2026 guidance at 10.450-10.750 EPS. On average, equities research analysts anticipate that Applied Industrial Technologies, Inc. will post 9.9 EPS for the current fiscal year.

Applied Industrial Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 13th will be paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 0.7%. This is a boost from Applied Industrial Technologies’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Friday, February 13th. Applied Industrial Technologies’s payout ratio is presently 17.51%.

Analyst Upgrades and Downgrades

AIT has been the subject of several research analyst reports. Wall Street Zen lowered shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Mizuho set a $305.00 price target on shares of Applied Industrial Technologies in a research note on Wednesday, October 29th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Applied Industrial Technologies in a report on Monday, December 29th. Finally, KeyCorp cut their price objective on shares of Applied Industrial Technologies from $310.00 to $300.00 and set an “overweight” rating on the stock in a report on Wednesday, January 28th. Six investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $290.63.

Hedge Funds Weigh In On Applied Industrial Technologies

A number of large investors have recently modified their holdings of the business. US Asset Management LLC boosted its stake in shares of Applied Industrial Technologies by 3.3% in the fourth quarter. US Asset Management LLC now owns 1,266 shares of the industrial products company’s stock valued at $325,000 after buying an additional 41 shares in the last quarter. Jones Financial Companies Lllp boosted its position in Applied Industrial Technologies by 3.3% during the third quarter. Jones Financial Companies Lllp now owns 1,410 shares of the industrial products company’s stock worth $369,000 after purchasing an additional 45 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of Applied Industrial Technologies by 7.4% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 653 shares of the industrial products company’s stock worth $170,000 after buying an additional 45 shares during the last quarter. Quadrant Capital Group LLC boosted its position in shares of Applied Industrial Technologies by 1.1% in the 3rd quarter. Quadrant Capital Group LLC now owns 4,631 shares of the industrial products company’s stock worth $1,209,000 after buying an additional 51 shares in the last quarter. Finally, Ritholtz Wealth Management grew its stake in Applied Industrial Technologies by 0.3% in the 2nd quarter. Ritholtz Wealth Management now owns 15,526 shares of the industrial products company’s stock valued at $3,609,000 after acquiring an additional 53 shares during the last quarter. 93.52% of the stock is owned by hedge funds and other institutional investors.

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.