Lecap Asset Management Ltd. Invests $864,000 in Applied Industrial Technologies, Inc. $AIT

Lecap Asset Management Ltd. bought a new stake in Applied Industrial Technologies, Inc. (NYSE:AIT) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 3,309 shares of the industrial products company’s stock, valued at approximately $864,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Hantz Financial Services Inc. lifted its stake in Applied Industrial Technologies by 2,033.3% in the second quarter. Hantz Financial Services Inc. now owns 128 shares of the industrial products company’s stock valued at $30,000 after buying an additional 122 shares during the last quarter. Maseco LLP acquired a new position in shares of Applied Industrial Technologies in the 2nd quarter valued at $35,000. Headlands Technologies LLC purchased a new stake in Applied Industrial Technologies in the 2nd quarter valued at $72,000. Harbor Investment Advisory LLC raised its position in Applied Industrial Technologies by 100.6% in the 2nd quarter. Harbor Investment Advisory LLC now owns 321 shares of the industrial products company’s stock valued at $75,000 after purchasing an additional 161 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new stake in Applied Industrial Technologies during the 2nd quarter worth $81,000. Hedge funds and other institutional investors own 93.52% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Applied Industrial Technologies in a report on Monday, December 29th. Mizuho set a $305.00 price target on Applied Industrial Technologies in a research report on Wednesday, October 29th. Six investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Applied Industrial Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $287.50.

Applied Industrial Technologies Stock Up 1.4%

Shares of NYSE:AIT opened at $264.37 on Friday. Applied Industrial Technologies, Inc. has a fifty-two week low of $199.96 and a fifty-two week high of $280.95. The company has a quick ratio of 2.50, a current ratio of 3.55 and a debt-to-equity ratio of 0.30. The firm’s 50-day simple moving average is $257.47 and its 200-day simple moving average is $258.02. The company has a market cap of $9.97 billion, a price-to-earnings ratio of 25.44, a PEG ratio of 2.66 and a beta of 0.87.

Applied Industrial Technologies (NYSE:AIT) last posted its quarterly earnings results on Tuesday, October 28th. The industrial products company reported $2.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.47 by $0.16. The firm had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.19 billion. Applied Industrial Technologies had a net margin of 8.61% and a return on equity of 21.86%. The firm’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same period in the prior year, the company posted $2.36 earnings per share. Applied Industrial Technologies has set its FY 2026 guidance at 10.100-10.850 EPS. As a group, equities research analysts predict that Applied Industrial Technologies, Inc. will post 9.9 earnings per share for the current year.

Applied Industrial Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Friday, November 14th were issued a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Friday, November 14th. Applied Industrial Technologies’s dividend payout ratio (DPR) is currently 17.71%.

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.