2,375 Shares in Applied Industrial Technologies, Inc. $AIT Acquired by Walleye Capital LLC

Walleye Capital LLC acquired a new stake in Applied Industrial Technologies, Inc. (NYSE:AIT) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 2,375 shares of the industrial products company’s stock, valued at approximately $630,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Corient Private Wealth LLC increased its position in Applied Industrial Technologies by 22,451.0% in the fourth quarter. Corient Private Wealth LLC now owns 585,423 shares of the industrial products company’s stock worth $150,319,000 after buying an additional 582,827 shares during the last quarter. Norges Bank purchased a new position in shares of Applied Industrial Technologies during the 4th quarter valued at $125,044,000. M&T Bank Corp grew its stake in shares of 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 worth $81,322,000 after acquiring an additional 299,960 shares during the period. Adage Capital Partners GP L.L.C. grew its stake in shares of Applied Industrial Technologies by 4,933.8% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 264,575 shares of the industrial products company’s stock worth $67,935,000 after acquiring an additional 259,319 shares during the period. Finally, First Trust Advisors LP increased its holdings in Applied Industrial Technologies by 34.3% in the 1st quarter. First Trust Advisors LP now owns 978,840 shares of the industrial products company’s stock worth $259,706,000 after acquiring an additional 249,961 shares during the last quarter. 93.52% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on AIT. Robert W. Baird set a $317.00 price objective on Applied Industrial Technologies in a research note on Wednesday, April 29th. Weiss Ratings reiterated a “buy (b)” rating on shares of Applied Industrial Technologies in a research note on Tuesday. 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 report on Wednesday, April 29th. KeyCorp upped their price target on shares of Applied Industrial Technologies from $350.00 to $375.00 and gave the company an “overweight” rating in a research note on Monday, July 13th. Finally, DA Davidson initiated coverage on shares of Applied Industrial Technologies in a report on Tuesday, June 16th. They issued a “buy” rating and a $380.00 price objective for the company. Seven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Applied Industrial Technologies has an average rating of “Moderate Buy” and an average target price of $336.71.

Insider Buying and Selling

In other news, VP Warren E. Hoffner III sold 8,000 shares of the company’s 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 sale, the vice president owned 40,751 shares of the company’s stock, valued at approximately $12,471,436.04. This represents a 16.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Madhuri A. Andrews sold 3,845 shares of the stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $329.89, for a total transaction of $1,268,427.05. Following the transaction, the director directly owned 4,951 shares in the company, valued at approximately $1,633,285.39. This represents a 43.71% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 1.60% of the company’s stock.

Applied Industrial Technologies Stock Performance

Shares of AIT opened at $347.16 on Friday. The company has a current ratio of 2.95, a quick ratio of 1.97 and a debt-to-equity ratio of 0.19. Applied Industrial Technologies, Inc. has a 12-month low of $238.34 and a 12-month high of $348.09. The company has a market cap of $12.83 billion, a PE ratio of 32.78, a price-to-earnings-growth ratio of 2.97 and a beta of 0.83. The stock has a 50-day moving average price of $323.78 and a 200-day moving average price of $295.20.

Applied Industrial Technologies (NYSE:AIT) last posted its quarterly earnings data on Tuesday, April 28th. The industrial products company reported $2.65 earnings per share for the quarter, beating the consensus estimate of $2.63 by $0.02. The firm had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.23 billion. Applied Industrial Technologies had a net margin of 8.34% and a return on equity of 21.64%. The business’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter last year, the company 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. As a group, equities analysts forecast that Applied Industrial Technologies, Inc. will post 10.71 earnings per share for the current fiscal 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 dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $2.04 annualized dividend and a dividend yield of 0.6%. Applied Industrial Technologies’s dividend payout ratio (DPR) is 19.26%.

Applied Industrial Technologies 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.