Pinnbrook Capital Management LP Invests $4.94 Million in Applied Industrial Technologies, Inc. $AIT

Pinnbrook Capital Management LP acquired a new stake in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 18,927 shares of the industrial products company’s stock, valued at approximately $4,941,000.

Several other institutional investors also recently bought and sold shares of the business. First Trust Advisors LP raised its stake in Applied Industrial Technologies by 22.7% in 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 in the last quarter. Capital International Investors bought a new stake in Applied Industrial Technologies during the 3rd quarter valued at $200,456,000. Dimensional Fund Advisors LP boosted its position in Applied Industrial Technologies by 1.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 720,352 shares of the industrial products company’s stock valued at $188,040,000 after acquiring an additional 10,408 shares in the last quarter. Norges Bank purchased a new position in shares of Applied Industrial Technologies in the 2nd quarter valued at $107,228,000. Finally, Royal London Asset Management Ltd. increased its holdings in shares of Applied Industrial Technologies by 69.2% in the 2nd quarter. Royal London Asset Management Ltd. now owns 393,743 shares of the industrial products company’s stock valued at $91,526,000 after acquiring an additional 161,048 shares during the period. 93.52% of the stock is owned by hedge funds and other institutional investors.

Applied Industrial Technologies Price Performance

NYSE AIT opened at $255.43 on Friday. The firm’s fifty day simple moving average is $275.66 and its two-hundred day simple moving average is $264.18. The firm has a market capitalization of $9.53 billion, a P/E ratio of 24.30, a P/E/G ratio of 2.49 and a beta of 0.81. 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, Inc. has a 12-month low of $199.96 and a 12-month high of $296.70.

Applied Industrial Technologies (NYSE:AIT) last issued its quarterly earnings data on Tuesday, January 27th. The industrial products company reported $2.51 EPS for the quarter, beating the consensus estimate of $2.48 by $0.03. The firm had revenue of $1.16 billion during 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 business’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.39 EPS. Applied Industrial Technologies has set its FY 2026 guidance at 10.450-10.750 EPS. Analysts forecast that Applied Industrial Technologies, Inc. will post 9.9 EPS for the current fiscal year.

Applied Industrial Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Friday, February 13th were paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 0.8%. This is a boost from Applied Industrial Technologies’s previous quarterly dividend of $0.46. The ex-dividend date was Friday, February 13th. Applied Industrial Technologies’s dividend payout ratio (DPR) is 19.41%.

Insider Buying and Selling at Applied Industrial Technologies

In other news, VP Jason W. Vasquez sold 5,447 shares of the company’s stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $287.87, for a total transaction of $1,568,027.89. Following the transaction, the vice president owned 14,491 shares in the company, valued at $4,171,524.17. This represents a 27.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Neil A. Schrimsher sold 19,207 shares of the stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $285.85, for a total transaction of $5,490,320.95. Following the completion of the transaction, the chief executive officer directly owned 130,528 shares of the company’s stock, valued at $37,311,428.80. The trade was a 12.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 28,654 shares of company stock worth $8,212,829. 1.60% of the stock is owned by insiders.

Analyst Ratings Changes

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

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.