Applied Industrial Technologies, Inc. $AIT Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. raised its holdings in Applied Industrial Technologies, Inc. (NYSE:AIT) by 22.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 131,816 shares of the industrial products company’s stock after purchasing an additional 23,964 shares during the quarter. Principal Financial Group Inc.’s holdings in Applied Industrial Technologies were worth $34,973,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of AIT. Torren Management LLC purchased a new position in shares of Applied Industrial Technologies during the 4th quarter worth $25,000. Anchor Investment Management LLC purchased a new stake in Applied Industrial Technologies in the 4th quarter valued at about $32,000. V Square Quantitative Management LLC acquired a new position in Applied Industrial Technologies in the fourth quarter valued at about $34,000. Allworth Financial LP lifted its position in 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 buying an additional 125 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its position in shares of Applied Industrial Technologies by 78.8% during 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 last quarter. Institutional investors and hedge funds own 93.52% of the company’s stock.

Applied Industrial Technologies Stock Up 1.3%

Shares of NYSE:AIT opened at $336.35 on Friday. The firm has a market capitalization of $12.43 billion, a PE ratio of 31.76, a price-to-earnings-growth ratio of 2.91 and a beta of 0.83. Applied Industrial Technologies, Inc. has a 1 year low of $238.34 and a 1 year high of $345.48. 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 firm’s 50-day moving average is $320.78 and its two-hundred day moving average is $292.32.

Applied Industrial Technologies (NYSE:AIT) last posted its quarterly earnings data on Tuesday, April 28th. The industrial products company reported $2.65 EPS for the quarter, beating the consensus estimate of $2.63 by $0.02. Applied Industrial Technologies had a net margin of 8.34% and a return on equity of 21.64%. The business had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.23 billion. During the same quarter last year, the firm posted $2.57 earnings per share. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. 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. Analysts predict that Applied Industrial Technologies, Inc. will post 10.71 EPS for the current year.

Applied Industrial Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Friday, August 14th will be paid a $0.51 dividend. The ex-dividend date is Friday, August 14th. This represents a $2.04 annualized dividend and a dividend yield of 0.6%. Applied Industrial Technologies’s payout ratio is 19.26%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Oppenheimer boosted their price target on shares of Applied Industrial Technologies from $300.00 to $350.00 and gave the company an “outperform” rating in a research note on Wednesday, April 29th. Robert W. Baird set a $317.00 price objective on shares of Applied Industrial Technologies in a research report on Wednesday, April 29th. Wall Street Zen downgraded shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Weiss Ratings reissued a “buy (b)” rating on shares of Applied Industrial Technologies in a research report on Friday, April 24th. Finally, KeyCorp upped their price target on Applied Industrial Technologies from $350.00 to $375.00 and gave the stock an “overweight” rating in a research note on Monday, July 13th. Six research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, Applied Industrial Technologies presently has an average rating of “Moderate Buy” and an average price target of $329.57.

Insider Buying and Selling at Applied Industrial Technologies

In other news, Director Madhuri A. Andrews sold 3,845 shares of the company’s stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $329.89, for a total transaction of $1,268,427.05. Following the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Warren E. Hoffner III sold 8,000 shares of the company’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $306.04, for a total value of $2,448,320.00. Following the sale, 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 SEC filing for this sale provides additional information. Insiders own 1.60% of the company’s stock.

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.