Dimensional Fund Advisors LP Lowers Stake in Applied Industrial Technologies, Inc. $AIT

Dimensional Fund Advisors LP trimmed its holdings in Applied Industrial Technologies, Inc. (NYSE:AIT) by 0.3% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 721,249 shares of the industrial products company’s stock after selling 2,451 shares during the period. Dimensional Fund Advisors LP’s holdings in Applied Industrial Technologies were worth $191,349,000 as of its most recent filing with the SEC.

Other hedge funds have also recently made changes to their positions in the company. Thrivent Financial for Lutherans increased its holdings in shares of Applied Industrial Technologies by 1,628.7% in the fourth quarter. Thrivent Financial for Lutherans now owns 196,946 shares of the industrial products company’s stock worth $50,570,000 after purchasing an additional 185,553 shares during the last quarter. SG Americas Securities LLC boosted its position in shares of Applied Industrial Technologies by 11,093.8% during the 4th quarter. SG Americas Securities LLC now owns 60,894 shares of the industrial products company’s stock valued at $15,636,000 after acquiring an additional 60,350 shares during the last quarter. Norges Bank bought a new position in Applied Industrial Technologies during the fourth quarter valued at $125,044,000. M&T Bank Corp lifted its position in Applied Industrial Technologies by 33,181.4% during the fourth quarter. M&T Bank Corp now owns 300,864 shares of the industrial products company’s stock valued at $81,322,000 after purchasing an additional 299,960 shares during the last quarter. Finally, Mutual of America Capital Management LLC grew its stake in shares of Applied Industrial Technologies by 38.1% in the 4th quarter. Mutual of America Capital Management LLC now owns 96,438 shares of the industrial products company’s stock worth $24,762,000 after buying an additional 26,612 shares in the last quarter. 93.52% of the stock is owned by hedge funds and other institutional investors.

Applied Industrial Technologies Stock Up 0.9%

Applied Industrial Technologies stock opened at $347.16 on Friday. The company has a quick ratio of 1.97, a current ratio of 2.95 and a debt-to-equity ratio of 0.19. The firm has a market cap of $12.83 billion, a P/E ratio of 32.78, a P/E/G ratio of 2.97 and a beta of 0.83. Applied Industrial Technologies, Inc. has a twelve month low of $238.34 and a twelve month high of $348.09. The business has a fifty day moving average of $323.78 and a two-hundred day moving average of $295.20.

Applied Industrial Technologies (NYSE:AIT) last released its earnings results on Tuesday, April 28th. The industrial products company reported $2.65 EPS for the quarter, topping analysts’ consensus estimates of $2.63 by $0.02. The company had revenue of $1.25 billion during 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%. Applied Industrial Technologies’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period last year, the business earned $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. On average, analysts forecast that Applied Industrial Technologies, Inc. will post 10.71 earnings per share for the current fiscal year.

Applied Industrial Technologies Dividend Announcement

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

Insider Activity at Applied Industrial Technologies

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

Analysts Set New Price Targets

AIT has been the subject of a number of recent analyst reports. Wall Street Zen cut Applied Industrial Technologies from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Oppenheimer boosted their target price 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. DA Davidson started coverage on shares of Applied Industrial Technologies in a report on Tuesday, June 16th. They issued a “buy” rating and a $380.00 price target on the stock. Robert W. Baird set a $317.00 price target on shares of Applied Industrial Technologies in a research note on Wednesday, April 29th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Applied Industrial Technologies in a research note on Tuesday. Seven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Applied Industrial Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $336.71.

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.