Nordea Investment Management AB Sells 12,407 Shares of Applied Industrial Technologies, Inc. $AIT

Nordea Investment Management AB decreased its holdings in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 6.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 172,765 shares of the industrial products company’s stock after selling 12,407 shares during the period. Nordea Investment Management AB owned approximately 0.46% of Applied Industrial Technologies worth $44,805,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of AIT. Jones Financial Companies Lllp raised its holdings in Applied Industrial Technologies by 3.3% in the third quarter. Jones Financial Companies Lllp now owns 1,410 shares of the industrial products company’s stock worth $369,000 after purchasing an additional 45 shares during the period. Northwestern Mutual Wealth Management Co. grew its stake in Applied Industrial Technologies by 7.4% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 653 shares of the industrial products company’s stock valued at $170,000 after acquiring an additional 45 shares during the period. Quadrant Capital Group LLC grew its stake in Applied Industrial Technologies by 1.1% in the third quarter. Quadrant Capital Group LLC now owns 4,631 shares of the industrial products company’s stock valued at $1,209,000 after acquiring an additional 51 shares during the period. Farther Finance Advisors LLC increased its holdings in shares of Applied Industrial Technologies by 13.1% in the third quarter. Farther Finance Advisors LLC now owns 457 shares of the industrial products company’s stock worth $119,000 after acquiring an additional 53 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ increased its holdings in shares of Applied Industrial Technologies by 11.9% in the third quarter. Skandinaviska Enskilda Banken AB publ now owns 516 shares of the industrial products company’s stock worth $135,000 after acquiring an additional 55 shares in the last quarter. Institutional investors and hedge funds own 93.52% of the company’s stock.

Applied Industrial Technologies Price Performance

AIT stock opened at $262.98 on Tuesday. The stock has a 50-day moving average price of $274.68 and a two-hundred day moving average price of $263.89. Applied Industrial Technologies, Inc. has a 1 year low of $199.96 and a 1 year high of $296.70. The stock has a market cap of $9.81 billion, a PE ratio of 25.02, a price-to-earnings-growth ratio of 2.43 and a beta of 0.80. The company has a current ratio of 3.68, a quick ratio of 2.56 and a debt-to-equity ratio of 0.31.

Applied Industrial Technologies (NYSE:AIT) last issued its quarterly earnings results on Tuesday, January 27th. The industrial products company reported $2.51 EPS for the quarter, beating analysts’ consensus estimates of $2.48 by $0.03. The company had revenue of $1.16 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the previous year, the company posted $2.39 earnings per share. 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 EPS for the current fiscal year.

Applied Industrial Technologies Increases Dividend

The company 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 an increase from Applied Industrial Technologies’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Friday, February 13th. This represents a $2.04 dividend on an annualized basis and a yield of 0.8%. Applied Industrial Technologies’s payout ratio is currently 19.41%.

Insider Transactions at Applied Industrial Technologies

In other news, VP Warren E. Hoffner III sold 4,000 shares of the business’s stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $288.62, for a total value of $1,154,480.00. Following the sale, the vice president owned 52,751 shares of the company’s stock, valued at $15,224,993.62. The trade was a 7.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Neil A. Schrimsher sold 19,207 shares of the stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $285.85, for a total transaction of $5,490,320.95. Following the transaction, the chief executive officer owned 130,528 shares of the company’s stock, valued at $37,311,428.80. The trade was a 12.83% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 28,654 shares of company stock valued at $8,212,829 in the last ninety days. 1.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on AIT shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Applied Industrial Technologies in a report on Monday, December 29th. KeyCorp increased their target price on 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, Wall Street Zen downgraded shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a report on Saturday. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $294.38.

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.