Harbor Capital Advisors Inc. Sells 10,948 Shares of Applied Industrial Technologies, Inc. $AIT

Harbor Capital Advisors Inc. lessened its holdings in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 71.6% during the 3rd quarter, Holdings Channel.com reports. The fund owned 4,342 shares of the industrial products company’s stock after selling 10,948 shares during the period. Harbor Capital Advisors Inc.’s holdings in Applied Industrial Technologies were worth $1,133,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its stake in shares of Applied Industrial Technologies by 2.9% during the 2nd quarter. GAMMA Investing LLC now owns 1,453 shares of the industrial products company’s stock worth $338,000 after purchasing an additional 41 shares during the last quarter. Ritholtz Wealth Management boosted its stake in Applied Industrial Technologies by 0.3% during the 2nd quarter. Ritholtz Wealth Management now owns 15,526 shares of the industrial products company’s stock valued at $3,609,000 after purchasing an additional 53 shares during the period. Farther Finance Advisors LLC increased its position in Applied Industrial Technologies by 13.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 457 shares of the industrial products company’s stock worth $119,000 after buying an additional 53 shares during the period. Contravisory Investment Management Inc. lifted its holdings in shares of Applied Industrial Technologies by 9.9% during the second quarter. Contravisory Investment Management Inc. now owns 645 shares of the industrial products company’s stock worth $150,000 after buying an additional 58 shares during the last quarter. Finally, Focus Partners Wealth boosted its position in shares of Applied Industrial Technologies by 4.5% in the first quarter. Focus Partners Wealth now owns 1,341 shares of the industrial products company’s stock valued at $302,000 after acquiring an additional 58 shares during the period. 93.52% of the stock is owned by institutional investors.

Applied Industrial Technologies Trading Up 0.2%

Shares of AIT stock opened at $264.81 on Friday. The firm has a fifty day moving average of $256.71 and a 200-day moving average of $255.95. The stock has a market cap of $9.99 billion, a price-to-earnings ratio of 25.49, a P/E/G ratio of 2.70 and a beta of 0.85. Applied Industrial Technologies, Inc. has a 52-week low of $199.96 and a 52-week high of $280.95. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.50 and a current ratio of 3.55.

Applied Industrial Technologies (NYSE:AIT) last posted its earnings results on Tuesday, October 28th. The industrial products company reported $2.63 earnings per share for the quarter, beating analysts’ consensus estimates of $2.47 by $0.16. The business had revenue of $1.20 billion for 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 quarter in the previous year, the firm posted $2.36 earnings per share. Applied Industrial Technologies has set its FY 2026 guidance at 10.100-10.850 EPS. On average, equities research analysts forecast that Applied Industrial Technologies, Inc. will post 9.9 earnings per share for the current fiscal year.

Applied Industrial Technologies Dividend Announcement

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

Analyst Upgrades and Downgrades

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

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.