Tribune Investment Group LP Buys Shares of 33,000 Applied Industrial Technologies, Inc. $AIT

Tribune Investment Group LP acquired a new position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 33,000 shares of the industrial products company’s stock, valued at approximately $7,436,000. Applied Industrial Technologies comprises approximately 3.2% of Tribune Investment Group LP’s portfolio, making the stock its 10th largest holding. Tribune Investment Group LP owned about 0.09% of Applied Industrial Technologies at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AIT. Cambridge Investment Research Advisors Inc. increased its stake in shares of Applied Industrial Technologies by 7.3% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 3,103 shares of the industrial products company’s stock valued at $699,000 after buying an additional 210 shares during the period. Janney Montgomery Scott LLC raised its holdings in shares of Applied Industrial Technologies by 6.6% during the first quarter. Janney Montgomery Scott LLC now owns 5,248 shares of the industrial products company’s stock valued at $1,183,000 after purchasing an additional 323 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in Applied Industrial Technologies by 17.7% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 1,501 shares of the industrial products company’s stock worth $338,000 after acquiring an additional 226 shares in the last quarter. Sequoia Financial Advisors LLC lifted its holdings in shares of Applied Industrial Technologies by 26.0% in the 1st quarter. Sequoia Financial Advisors LLC now owns 1,811 shares of the industrial products company’s stock worth $408,000 after purchasing an additional 374 shares in the last quarter. Finally, Spire Wealth Management lifted its stake in shares of Applied Industrial Technologies by 11.3% in the first quarter. Spire Wealth Management now owns 2,583 shares of the industrial products company’s stock valued at $582,000 after buying an additional 262 shares in the last quarter. 93.52% of the stock is currently owned by institutional investors and hedge funds.

Applied Industrial Technologies Price Performance

Applied Industrial Technologies stock opened at $262.25 on Thursday. The company has a quick ratio of 2.36, a current ratio of 3.32 and a debt-to-equity ratio of 0.31. Applied Industrial Technologies, Inc. has a 52-week low of $191.31 and a 52-week high of $282.98. The firm’s fifty day moving average is $252.84 and its 200 day moving average is $240.42. The company has a market cap of $9.90 billion, a price-to-earnings ratio of 25.91, a PEG ratio of 3.21 and a beta of 0.94.

Applied Industrial Technologies (NYSE:AIT) last issued its quarterly earnings data on Thursday, August 14th. The industrial products company reported $2.80 earnings per share for the quarter, topping the consensus estimate of $2.60 by $0.20. The company had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.18 billion. Applied Industrial Technologies had a return on equity of 21.78% and a net margin of 8.61%.The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period in the previous year, the firm posted $2.64 earnings per share. Applied Industrial Technologies has set its FY 2026 guidance at 10.000-10.75 EPS. Sell-side analysts forecast that Applied Industrial Technologies, Inc. will post 9.9 EPS for the current fiscal year.

Applied Industrial Technologies announced that its board has initiated a stock buyback program on Thursday, May 1st that permits the company to repurchase 1,500,000 shares. This repurchase authorization permits the industrial products company to buy shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

Applied Industrial Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be given a dividend of $0.46 per share. The ex-dividend date is Friday, August 15th. This represents a $1.84 dividend on an annualized basis and a yield of 0.7%. Applied Industrial Technologies’s payout ratio is 18.18%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Raymond James Financial lowered Applied Industrial Technologies from an “outperform” rating to a “market perform” rating in a report on Friday, August 15th. Oppenheimer increased their target price on shares of Applied Industrial Technologies from $290.00 to $300.00 and gave the company an “outperform” rating in a research report on Friday, August 15th. Robert W. Baird increased their price target on Applied Industrial Technologies from $265.00 to $300.00 and gave the stock an “outperform” rating in a research note on Friday, August 15th. Finally, Wall Street Zen upgraded Applied Industrial Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, July 26th. Six equities 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, Applied Industrial Technologies currently has an average rating of “Moderate Buy” and an average target price of $287.86.

Applied Industrial Technologies Profile

Applied Industrial Technologies, Inc distributes industrial motion, power, control, and automation technology solutions in North America, Australia, New Zealand, and Singapore. It operates in two segments, Service Center Based Distribution, and Engineered Solutions. The company distributes bearings, power transmission products, engineered fluid power components and systems, specialty flow control solutions, advanced automation products, industrial rubber products, linear motion components, automation solutions, tools, safety products, oilfield supplies, and other industrial and maintenance supplies; and motors, belting, drives, couplings, pumps, hydraulic and pneumatic components, filtration supplies, valves, fittings, process instrumentation, actuators, and hoses, filtration supplies, as well as other related supplies for general operational needs of customers' machinery and equipment.