Applied Industrial Technologies, Inc. $AIT Shares Sold by Lisanti Capital Growth LLC

Lisanti Capital Growth LLC lowered its holdings in Applied Industrial Technologies, Inc. (NYSE:AIT) by 26.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,565 shares of the industrial products company’s stock after selling 6,270 shares during the period. Lisanti Capital Growth LLC’s holdings in Applied Industrial Technologies were worth $4,083,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in AIT. Campbell & CO Investment Adviser LLC acquired a new stake in Applied Industrial Technologies in the 2nd quarter valued at $5,336,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Applied Industrial Technologies by 8.7% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,891 shares of the industrial products company’s stock worth $672,000 after buying an additional 232 shares during the period. Wedbush Securities Inc. raised its holdings in shares of Applied Industrial Technologies by 77.1% during the 2nd quarter. Wedbush Securities Inc. now owns 2,384 shares of the industrial products company’s stock valued at $554,000 after buying an additional 1,038 shares during the period. Huntington National Bank lifted its position in Applied Industrial Technologies by 59.0% during the 2nd quarter. Huntington National Bank now owns 364 shares of the industrial products company’s stock worth $85,000 after acquiring an additional 135 shares in the last quarter. Finally, Regents Gate Capital LLP acquired a new position in Applied Industrial Technologies during the 2nd quarter worth approximately $11,387,000. Institutional investors and hedge funds own 93.52% of the company’s stock.

Insider Buying and Selling at Applied Industrial Technologies

In other news, CEO Neil A. Schrimsher sold 26,671 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer owned 149,735 shares in the company, valued at approximately $39,299,448.10. This represents a 15.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Kurt W. Loring sold 8,523 shares of Applied Industrial Technologies stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $267.06, for a total transaction of $2,276,152.38. Following the completion of the sale, the vice president owned 19,273 shares in the company, valued at approximately $5,147,047.38. This represents a 30.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 42,660 shares of company stock worth $11,217,980. 1.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on AIT shares. Mizuho set a $305.00 target price on shares of Applied Industrial Technologies in a research note on Wednesday, October 29th. Industrial Alliance Securities set a $290.00 price objective on shares of Applied Industrial Technologies in a report on Friday, August 22nd. Oppenheimer raised their target price on Applied Industrial Technologies from $290.00 to $300.00 and gave the company an “outperform” rating in a research note on Friday, August 15th. Bank of America increased their price target on Applied Industrial Technologies from $275.00 to $290.00 and gave the company a “buy” rating in a report on Friday, August 22nd. Finally, Raymond James Financial lowered Applied Industrial Technologies from an “outperform” rating to a “market perform” rating in a research report on Friday, August 15th. Six analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Applied Industrial Technologies has an average rating of “Moderate Buy” and an average target price of $287.50.

Applied Industrial Technologies Stock Performance

Shares of AIT opened at $258.56 on Friday. The stock has a market capitalization of $9.75 billion, a PE ratio of 24.89, a price-to-earnings-growth ratio of 2.61 and a beta of 0.99. The business’s fifty day moving average price is $258.34 and its 200 day moving average price is $249.47. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.55 and a quick ratio of 2.36. Applied Industrial Technologies, Inc. has a 12-month low of $199.96 and a 12-month high of $282.98.

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

Applied Industrial Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be given 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 (DPR) is currently 17.71%.

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.