Applied Industrial Technologies, Inc. $AIT Shares Sold by Pier Capital LLC

Pier Capital LLC cut its stake in Applied Industrial Technologies, Inc. (NYSE:AIT) by 41.8% in the third quarter, Holdings Channel.com reports. The firm owned 17,453 shares of the industrial products company’s stock after selling 12,512 shares during the quarter. Pier Capital LLC’s holdings in Applied Industrial Technologies were worth $4,556,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. First Trust Advisors LP boosted its stake in Applied Industrial Technologies by 22.7% during the third quarter. First Trust Advisors LP now owns 933,067 shares of the industrial products company’s stock worth $243,577,000 after buying an additional 172,857 shares during the last quarter. Capital International Investors purchased a new stake in Applied Industrial Technologies in the 3rd quarter valued at $200,456,000. Dimensional Fund Advisors LP increased its stake in shares of Applied Industrial Technologies by 1.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 720,352 shares of the industrial products company’s stock worth $188,040,000 after acquiring an additional 10,408 shares during the last quarter. Norges Bank acquired a new stake in shares of Applied Industrial Technologies in the 2nd quarter worth $107,228,000. Finally, Royal London Asset Management Ltd. raised its holdings in shares of Applied Industrial Technologies by 69.2% during the 2nd quarter. Royal London Asset Management Ltd. now owns 393,743 shares of the industrial products company’s stock worth $91,526,000 after acquiring an additional 161,048 shares during the period. Hedge funds and other institutional investors own 93.52% of the company’s stock.

Insider Activity

In other news, CEO Neil A. Schrimsher sold 19,207 shares of the business’s stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $285.85, for a total value of $5,490,320.95. Following the sale, the chief executive officer directly owned 130,528 shares of the company’s stock, valued at approximately $37,311,428.80. The trade was a 12.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Warren E. Hoffner III sold 4,000 shares of the company’s stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $288.62, for a total transaction of $1,154,480.00. Following the completion of the transaction, the vice president owned 52,751 shares in the company, valued at approximately $15,224,993.62. This represents a 7.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 28,654 shares of company stock valued at $8,212,829. Company insiders own 1.60% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on AIT. Wall Street Zen raised shares of Applied Industrial Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, February 28th. KeyCorp lifted their target price on shares of Applied Industrial Technologies from $300.00 to $330.00 and gave the stock an “overweight” rating in a research note on Thursday, February 26th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Applied Industrial Technologies in a report on Monday, December 29th. Six analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Applied Industrial Technologies has a consensus rating of “Moderate Buy” and an average price target of $294.38.

Applied Industrial Technologies Stock Performance

Shares of Applied Industrial Technologies stock opened at $260.57 on Friday. The firm has a market cap of $9.72 billion, a PE ratio of 24.79, a price-to-earnings-growth ratio of 2.59 and a beta of 0.81. The company has a quick ratio of 2.56, a current ratio of 3.68 and a debt-to-equity ratio of 0.31. Applied Industrial Technologies, Inc. has a 52 week low of $199.96 and a 52 week high of $296.70. The business’s fifty day simple moving average is $275.74 and its 200-day simple moving average is $264.24.

Applied Industrial Technologies (NYSE:AIT) last issued its quarterly earnings data on Tuesday, January 27th. The industrial products company reported $2.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.48 by $0.03. The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.17 billion. Applied Industrial Technologies had a return on equity of 21.74% and a net margin of 8.49%.The company’s quarterly revenue was up 8.4% on a year-over-year basis. During the same period last year, the company earned $2.39 EPS. Applied Industrial Technologies has set its FY 2026 guidance at 10.450-10.750 EPS. Equities analysts forecast 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. Shareholders of record on Friday, February 13th were given a dividend of $0.51 per share. This is a boost from Applied Industrial Technologies’s previous quarterly dividend of $0.46. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Friday, February 13th. Applied Industrial Technologies’s dividend payout ratio (DPR) is 19.41%.

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.