MUFG Securities EMEA plc Invests $1.35 Million in Applied Industrial Technologies, Inc. $AIT

MUFG Securities EMEA plc acquired a new position in Applied Industrial Technologies, Inc. (NYSE:AIT) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 5,275 shares of the industrial products company’s stock, valued at approximately $1,354,000.

Several other large investors have also recently bought and sold shares of AIT. Goldman Sachs Group Inc. raised its stake in Applied Industrial Technologies by 4.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 381,187 shares of the industrial products company’s stock valued at $85,897,000 after purchasing an additional 14,926 shares during the last quarter. Empowered Funds LLC acquired a new position in Applied Industrial Technologies during the 1st quarter valued at $318,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Applied Industrial Technologies by 12.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 98,348 shares of the industrial products company’s stock valued at $22,162,000 after purchasing an additional 10,863 shares during the last quarter. Focus Partners Wealth raised its stake in Applied Industrial Technologies by 4.5% during the 1st quarter. Focus Partners Wealth now owns 1,341 shares of the industrial products company’s stock valued at $302,000 after purchasing an additional 58 shares during the last quarter. Finally, M&T Bank Corp acquired a new position in Applied Industrial Technologies during the 2nd quarter valued at $217,000. 93.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, VP Warren E. Hoffner III sold 8,000 shares of the stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $306.04, for a total value of $2,448,320.00. Following the completion of the transaction, the vice president owned 40,751 shares in the company, valued at approximately $12,471,436.04. This represents a 16.41% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

AIT has been the subject of several research analyst reports. Oppenheimer upped their target price on shares of Applied Industrial Technologies from $300.00 to $350.00 and gave the company 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 note on Friday, April 24th. KeyCorp upped their target price on shares of Applied Industrial Technologies from $300.00 to $330.00 and gave the company an “overweight” rating in a research note on Thursday, February 26th. Robert W. Baird set a $317.00 target price on shares of Applied Industrial Technologies in a research note on Wednesday, April 29th. Finally, Wall Street Zen cut shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Five research 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, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $313.67.

Applied Industrial Technologies Trading Up 2.3%

Shares of AIT stock opened at $307.81 on Wednesday. Applied Industrial Technologies, Inc. has a 52-week low of $223.13 and a 52-week high of $317.10. The stock has a market cap of $11.38 billion, a price-to-earnings ratio of 29.07, a P/E/G ratio of 2.87 and a beta of 0.84. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.97 and a current ratio of 2.95. The firm has a fifty day moving average of $291.61 and a 200-day moving average of $275.77.

Applied Industrial Technologies (NYSE:AIT) last announced its quarterly earnings data on Tuesday, April 28th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company 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 posted $2.57 EPS. The business’s revenue was up 7.3% on a year-over-year basis. 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. On average, equities research analysts forecast that Applied Industrial Technologies, Inc. will post 10.7 earnings per share for the current fiscal year.

Applied Industrial Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 15th were paid a $0.51 dividend. The ex-dividend date was Friday, May 15th. 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 currently 19.26%.

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.