Numerai GP LLC Has $2.83 Million Stock Position in Applied Industrial Technologies, Inc. $AIT

Numerai GP LLC lowered its stake in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 41.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,821 shares of the industrial products company’s stock after selling 7,669 shares during the quarter. Numerai GP LLC’s holdings in Applied Industrial Technologies were worth $2,825,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Smartleaf Asset Management LLC grew its stake in shares of Applied Industrial Technologies by 890.0% during the third quarter. Smartleaf Asset Management LLC now owns 99 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 89 shares during the last quarter. Root Financial Partners LLC acquired a new stake in shares of Applied Industrial Technologies in the third quarter valued at approximately $27,000. Abich Financial Wealth Management LLC bought a new position in Applied Industrial Technologies in the 3rd quarter worth approximately $29,000. First Horizon Corp bought a new position in Applied Industrial Technologies in the 3rd quarter worth approximately $47,000. Finally, Johnson Financial Group Inc. acquired a new position in Applied Industrial Technologies during the 3rd quarter worth $69,000. Institutional investors and hedge funds own 93.52% of the company’s stock.

Insider Buying and Selling

In related news, VP Jason W. Vasquez sold 5,447 shares of Applied Industrial Technologies stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $287.87, for a total transaction of $1,568,027.89. Following the completion of the sale, the vice president directly owned 14,491 shares of the company’s stock, valued at $4,171,524.17. The trade was a 27.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Warren E. Hoffner III sold 4,000 shares of the stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $288.62, for a total value of $1,154,480.00. Following the completion of the transaction, the vice president directly owned 52,751 shares in the company, valued at $15,224,993.62. The trade was a 7.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 28,654 shares of company stock valued at $8,212,829 over the last three months. Company insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

AIT has been the topic of a number of recent research reports. KeyCorp increased their price objective on Applied Industrial Technologies from $300.00 to $330.00 and gave the company an “overweight” rating in a research report on Thursday, February 26th. Wall Street Zen upgraded Applied Industrial Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, February 28th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Applied Industrial Technologies in a research note on Monday, December 29th. Six investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $294.38.

Applied Industrial Technologies Trading Up 0.5%

AIT opened at $256.86 on Tuesday. The firm has a 50 day simple moving average of $275.53 and a 200 day simple moving average of $264.07. Applied Industrial Technologies, Inc. has a fifty-two week low of $199.96 and a fifty-two week high of $296.70. The company has a market cap of $9.58 billion, a price-to-earnings ratio of 24.44, a price-to-earnings-growth ratio of 2.45 and a beta of 0.80. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.68 and a quick ratio of 2.56.

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 analysts’ consensus estimates of $2.48 by $0.03. Applied Industrial Technologies had a net margin of 8.49% and a return on equity of 21.74%. The firm had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same period last year, the firm earned $2.39 earnings per share. The business’s revenue for the quarter was up 8.4% on a year-over-year basis. Applied Industrial Technologies has set its FY 2026 guidance at 10.450-10.750 EPS. On average, sell-side analysts anticipate that Applied Industrial Technologies, Inc. will post 9.9 earnings per share for the current year.

Applied Industrial Technologies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Friday, February 13th were given a $0.51 dividend. The ex-dividend date was Friday, February 13th. This represents a $2.04 annualized dividend and a dividend yield of 0.8%. This is an increase from Applied Industrial Technologies’s previous quarterly dividend of $0.46. Applied Industrial Technologies’s dividend payout ratio is 19.41%.

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.