Applied Industrial Technologies, Inc. $AIT Shares Bought by TimesSquare Capital Management LLC

TimesSquare Capital Management LLC lifted its position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 12.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 96,775 shares of the industrial products company’s stock after acquiring an additional 10,341 shares during the quarter. TimesSquare Capital Management LLC owned 0.26% of Applied Industrial Technologies worth $25,263,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in AIT. Norges Bank acquired a new position in Applied Industrial Technologies during the 2nd quarter worth approximately $107,228,000. Royal London Asset Management Ltd. boosted its stake in shares of Applied Industrial Technologies by 69.2% in the second quarter. Royal London Asset Management Ltd. now owns 393,743 shares of the industrial products company’s stock valued at $91,526,000 after buying an additional 161,048 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Applied Industrial Technologies by 4.1% during the first quarter. Goldman Sachs Group Inc. now owns 381,187 shares of the industrial products company’s stock worth $85,897,000 after acquiring an additional 14,926 shares during the period. Bank of America Corp DE raised its position in Applied Industrial Technologies by 47.8% in the second quarter. Bank of America Corp DE now owns 374,627 shares of the industrial products company’s stock worth $87,082,000 after acquiring an additional 121,163 shares in the last quarter. Finally, Qube Research & Technologies Ltd purchased a new stake in shares of Applied Industrial Technologies during the 2nd quarter worth $81,722,000. Institutional investors and hedge funds own 93.52% of the company’s stock.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

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

Applied Industrial Technologies Stock Up 0.3%

Shares of NYSE AIT opened at $279.82 on Friday. The firm’s 50-day moving average is $269.79 and its two-hundred day moving average is $262.82. The company has a market capitalization of $10.44 billion, a PE ratio of 26.62, a price-to-earnings-growth ratio of 2.69 and a beta of 0.84. Applied Industrial Technologies, Inc. has a 12-month low of $199.96 and a 12-month high of $296.70. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.68 and a quick ratio of 2.56.

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

Applied Industrial Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Friday, February 13th will be paid a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, February 13th. This is an increase from Applied Industrial Technologies’s previous quarterly dividend of $0.46. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.7%. Applied Industrial Technologies’s dividend payout ratio is 17.51%.

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.