Applied Industrial Technologies, Inc. $AIT Shares Sold by Homestead Advisers Corp

Homestead Advisers Corp cut its holdings in Applied Industrial Technologies, Inc. (NYSE:AIT) by 6.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 30,426 shares of the industrial products company’s stock after selling 2,100 shares during the quarter. Homestead Advisers Corp’s holdings in Applied Industrial Technologies were worth $7,943,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in AIT. Root Financial Partners LLC purchased a new position in shares of Applied Industrial Technologies during the third quarter worth about $27,000. Hantz Financial Services Inc. lifted its position in Applied Industrial Technologies by 2,033.3% during the 2nd quarter. Hantz Financial Services Inc. now owns 128 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 122 shares during the period. First Horizon Corp purchased a new position in shares of Applied Industrial Technologies in the 3rd quarter valued at approximately $47,000. Headlands Technologies LLC acquired a new position in shares of Applied Industrial Technologies in the second quarter valued at approximately $72,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in shares of Applied Industrial Technologies during the second quarter worth approximately $81,000. 93.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on AIT shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Applied Industrial Technologies in a research report on Monday, December 29th. Mizuho set a $305.00 target price on shares of Applied Industrial Technologies in a research note on Wednesday, October 29th. Wall Street Zen lowered shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Finally, KeyCorp cut their price target on shares of Applied Industrial Technologies from $310.00 to $300.00 and set an “overweight” rating for the company in a report on Wednesday, January 28th. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $290.63.

Applied Industrial Technologies Stock Performance

Shares of AIT opened at $289.95 on Thursday. 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 $290.09. The company has a 50-day simple moving average of $266.04 and a 200-day simple moving average of $262.01. The company has a market capitalization of $10.82 billion, a PE ratio of 27.59, a P/E/G ratio of 2.78 and a beta of 0.84.

Applied Industrial Technologies (NYSE:AIT) last issued its earnings results on Tuesday, January 27th. The industrial products company reported $2.51 earnings per share for the quarter, topping the consensus estimate of $2.48 by $0.03. Applied Industrial Technologies had a net margin of 8.49% and a return on equity of 21.74%. The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same period in the prior year, the business posted $2.39 earnings per share. The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. Applied Industrial Technologies has set its FY 2026 guidance at 10.450-10.750 EPS. Equities research analysts predict that Applied Industrial Technologies, Inc. will post 9.9 earnings per share for the current fiscal year.

Applied Industrial Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Friday, February 13th will be issued 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 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Friday, February 13th. Applied Industrial Technologies’s payout ratio is presently 17.51%.

Applied Industrial Technologies Company 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.