Gaddis Premier Wealth Advisors LLC Invests $608,000 in Applied Industrial Technologies, Inc. $AIT

Gaddis Premier Wealth Advisors LLC bought a new position in Applied Industrial Technologies, Inc. (NYSE:AIT) during the fourth quarter, HoldingsChannel.com reports. The fund bought 2,367 shares of the industrial products company’s stock, valued at approximately $608,000.

Several other hedge funds also recently added to or reduced their stakes in AIT. Capital International Investors bought a new position in Applied Industrial Technologies during the 3rd quarter valued at about $200,456,000. Norges Bank bought a new position in Applied Industrial Technologies during the 4th quarter valued at about $125,044,000. M&T Bank Corp grew its holdings in Applied Industrial Technologies by 33,181.4% during the 4th quarter. M&T Bank Corp now owns 300,864 shares of the industrial products company’s stock valued at $81,322,000 after purchasing an additional 299,960 shares during the last quarter. Thrivent Financial for Lutherans grew its holdings in Applied Industrial Technologies by 1,628.7% during the 4th quarter. Thrivent Financial for Lutherans now owns 196,946 shares of the industrial products company’s stock valued at $50,570,000 after purchasing an additional 185,553 shares during the last quarter. Finally, First Trust Advisors LP grew its holdings in Applied Industrial Technologies by 22.7% during the 3rd quarter. First Trust Advisors LP now owns 933,067 shares of the industrial products company’s stock valued at $243,577,000 after purchasing an additional 172,857 shares during the last quarter. 93.52% of the stock is currently owned by institutional investors.

Applied Industrial Technologies Price Performance

Shares of AIT stock opened at $314.48 on Tuesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.95 and a quick ratio of 1.97. The company has a market capitalization of $11.62 billion, a P/E ratio of 29.70, a P/E/G ratio of 3.00 and a beta of 0.84. The company’s 50-day simple moving average is $296.77 and its two-hundred day simple moving average is $278.06. Applied Industrial Technologies, Inc. has a one year low of $223.13 and a one year high of $318.95.

Applied Industrial Technologies (NYSE:AIT) last issued its earnings results on Tuesday, April 28th. The industrial products company reported $2.65 EPS for the quarter, topping analysts’ consensus estimates of $2.63 by $0.02. The business had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.23 billion. Applied Industrial Technologies had a net margin of 8.34% and a return on equity of 21.64%. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $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. As a group, equities analysts anticipate that Applied Industrial Technologies, Inc. will post 10.7 EPS for the current year.

Applied Industrial Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date was Friday, May 15th. Applied Industrial Technologies’s dividend payout ratio is currently 19.26%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on AIT shares. Robert W. Baird set a $317.00 price target on shares of Applied Industrial Technologies in a report on Wednesday, April 29th. KeyCorp upped their price target on shares of Applied Industrial Technologies from $300.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, February 26th. Oppenheimer upped their price target 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. Weiss Ratings reiterated a “buy (b)” rating on shares of Applied Industrial Technologies in a report on Friday, April 24th. Finally, Wall Street Zen downgraded shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Five 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 presently has an average rating of “Moderate Buy” and an average price target of $313.67.

Insider Buying and Selling

In other Applied Industrial Technologies news, VP Warren E. Hoffner III sold 8,000 shares of the company’s 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 transaction, the vice president directly owned 40,751 shares in the company, valued at $12,471,436.04. This represents a 16.41% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.60% of the stock is owned by corporate insiders.

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.