Teacher Retirement System of Texas Lowers Position in Applied Industrial Technologies, Inc. $AIT

Teacher Retirement System of Texas trimmed its stake in Applied Industrial Technologies, Inc. (NYSE:AIT) by 1.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 31,022 shares of the industrial products company’s stock after selling 442 shares during the quarter. Teacher Retirement System of Texas owned about 0.08% of Applied Industrial Technologies worth $7,211,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Applied Industrial Technologies by 7.3% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 3,103 shares of the industrial products company’s stock worth $699,000 after purchasing an additional 210 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in Applied Industrial Technologies by 17.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 1,501 shares of the industrial products company’s stock worth $338,000 after buying an additional 226 shares during the period. Sequoia Financial Advisors LLC grew its stake in Applied Industrial Technologies by 26.0% during the first quarter. Sequoia Financial Advisors LLC now owns 1,811 shares of the industrial products company’s stock worth $408,000 after buying an additional 374 shares during the period. GAMMA Investing LLC grew its stake in Applied Industrial Technologies by 51.3% during the first quarter. GAMMA Investing LLC now owns 1,412 shares of the industrial products company’s stock worth $318,000 after buying an additional 479 shares during the period. Finally, 111 Capital purchased a new stake in Applied Industrial Technologies during the second quarter worth approximately $980,000. 93.52% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on AIT shares. Mizuho set a $305.00 price objective on shares of Applied Industrial Technologies in a research note on Wednesday. Bank of America boosted their price objective on shares of Applied Industrial Technologies from $275.00 to $290.00 and gave the stock a “buy” rating in a research note on Friday, August 22nd. Industrial Alliance Securities set a $290.00 price objective on shares of Applied Industrial Technologies in a research note on Friday, August 22nd. Wall Street Zen upgraded shares of Applied Industrial Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, July 26th. Finally, Oppenheimer boosted their price objective on shares of Applied Industrial Technologies from $290.00 to $300.00 and gave the stock an “outperform” rating in a research note on Friday, August 15th. Six 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, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $287.50.

Applied Industrial Technologies Price Performance

Shares of AIT stock opened at $256.05 on Friday. The company has a market capitalization of $9.67 billion, a PE ratio of 24.64, a price-to-earnings-growth ratio of 2.61 and a beta of 0.96. The firm has a fifty day simple moving average of $259.40 and a 200-day simple moving average of $247.79. The company has a current ratio of 3.55, a quick ratio of 2.36 and a debt-to-equity ratio of 0.30. Applied Industrial Technologies, Inc. has a twelve month low of $199.96 and a twelve month high of $282.98.

Applied Industrial Technologies (NYSE:AIT) last posted its quarterly earnings data on Tuesday, October 28th. The industrial products company reported $2.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.47 by $0.16. Applied Industrial Technologies had a return on equity of 21.86% and a net margin of 8.61%.The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same period in the previous year, the business earned $2.36 EPS. Applied Industrial Technologies’s revenue for the quarter was up 9.2% compared to the same quarter last year. Applied Industrial Technologies has set its FY 2026 guidance at 10.100-10.850 EPS. Equities research analysts anticipate that Applied Industrial Technologies, Inc. will post 9.9 earnings per share for the current fiscal year.

Applied Industrial Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, November 14th will be issued a $0.46 dividend. The ex-dividend date of this dividend is Friday, November 14th. This represents a $1.84 annualized dividend and a yield of 0.7%. Applied Industrial Technologies’s dividend payout ratio is currently 17.71%.

Insider Activity at Applied Industrial Technologies

In related news, VP Jason W. Vasquez sold 7,466 shares of the company’s stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $260.08, for a total value of $1,941,757.28. Following the sale, the vice president directly owned 14,491 shares of the company’s stock, valued at $3,768,819.28. This represents a 34.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Neil A. Schrimsher sold 26,671 shares of the company’s stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $262.46, for a total transaction of $7,000,070.66. Following the completion of the sale, the chief executive officer directly owned 149,735 shares in the company, valued at $39,299,448.10. This represents a 15.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 42,660 shares of company stock valued at $11,217,980 over the last ninety days. Corporate insiders own 1.60% of the company’s stock.

About Applied Industrial Technologies

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.