Hsbc Holdings PLC Sells 13,008 Shares of Applied Industrial Technologies, Inc. $AIT

Hsbc Holdings PLC trimmed its position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 38.5% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,799 shares of the industrial products company’s stock after selling 13,008 shares during the quarter. Hsbc Holdings PLC owned 0.06% of Applied Industrial Technologies worth $5,479,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Torren Management LLC bought a new stake in shares of Applied Industrial Technologies in the 4th quarter worth about $25,000. Anchor Investment Management LLC bought a new stake in Applied Industrial Technologies in the fourth quarter worth about $32,000. V Square Quantitative Management LLC purchased a new position in shares of Applied Industrial Technologies during the fourth quarter valued at approximately $34,000. Allworth Financial LP boosted its position in shares of Applied Industrial Technologies by 446.4% during the third quarter. Allworth Financial LP now owns 153 shares of the industrial products company’s stock valued at $40,000 after buying an additional 125 shares during the period. Finally, Smartleaf Asset Management LLC grew its stake in shares of Applied Industrial Technologies by 78.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 177 shares of the industrial products company’s stock valued at $46,000 after buying an additional 78 shares during the last quarter. Institutional investors own 93.52% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Wall Street Zen downgraded Applied Industrial Technologies from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. DA Davidson began coverage on Applied Industrial Technologies in a research report on Tuesday, June 16th. They issued a “buy” rating and a $380.00 price objective on the stock. Oppenheimer increased their target price on Applied Industrial Technologies from $300.00 to $350.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 29th. Weiss Ratings reiterated a “buy (b)” rating on shares of Applied Industrial Technologies in a research report on Friday, April 24th. Finally, KeyCorp boosted their target price on shares of Applied Industrial Technologies from $350.00 to $375.00 and gave the company an “overweight” rating in a research note on Monday, July 13th. Seven 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 an average rating of “Moderate Buy” and a consensus price target of $336.71.

Insider Buying and Selling at Applied Industrial Technologies

In other news, VP Warren E. Hoffner III sold 8,000 shares of Applied Industrial Technologies stock in a transaction on 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 transaction, 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Madhuri A. Andrews sold 3,845 shares of the business’s stock in a transaction on 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 completion of the transaction, the director directly owned 4,951 shares of the company’s stock, valued at approximately $1,633,285.39. The trade was a 43.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.60% of the stock is currently owned by company insiders.

Applied Industrial Technologies Stock Up 0.7%

Shares of Applied Industrial Technologies stock opened at $344.00 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.95 and a quick ratio of 1.97. The stock has a market cap of $12.71 billion, a price-to-earnings ratio of 32.48, a PEG ratio of 2.94 and a beta of 0.83. The firm’s 50-day moving average is $322.99 and its two-hundred day moving average is $294.83. Applied Industrial Technologies, Inc. has a 1 year low of $238.34 and a 1 year high of $346.65.

Applied Industrial Technologies (NYSE:AIT) last announced its quarterly earnings results on Tuesday, April 28th. The industrial products company reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.63 by $0.02. Applied Industrial Technologies had a net margin of 8.34% and a return on equity of 21.64%. The firm had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.23 billion. During the same quarter in the prior year, the company earned $2.57 EPS. The company’s revenue was up 7.3% compared to the same quarter last year. 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. As a group, research analysts expect that Applied Industrial Technologies, Inc. will post 10.71 earnings per share for the current fiscal year.

Applied Industrial Technologies Dividend Announcement

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

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.