Harfst & Associates Inc. Sells 2,877 Shares of Applied Industrial Technologies, Inc. $AIT

Harfst & Associates Inc. trimmed its stake in Applied Industrial Technologies, Inc. (NYSE:AIT) by 22.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,111 shares of the industrial products company’s stock after selling 2,877 shares during the period. Harfst & Associates Inc.’s holdings in Applied Industrial Technologies were worth $2,350,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in AIT. Alyeska Investment Group L.P. raised its holdings in Applied Industrial Technologies by 27.9% in the first quarter. Alyeska Investment Group L.P. now owns 602,798 shares of the industrial products company’s stock worth $135,835,000 after purchasing an additional 131,465 shares in the last quarter. Boston Trust Walden Corp raised its stake in shares of Applied Industrial Technologies by 2.0% during the 2nd quarter. Boston Trust Walden Corp now owns 508,120 shares of the industrial products company’s stock worth $118,113,000 after acquiring an additional 10,015 shares in the last quarter. Alliancebernstein L.P. lifted its position in Applied Industrial Technologies by 452.6% during the first quarter. Alliancebernstein L.P. now owns 436,565 shares of the industrial products company’s stock valued at $98,376,000 after acquiring an additional 357,568 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Applied Industrial Technologies by 4.1% in the first quarter. Goldman Sachs Group Inc. now owns 381,187 shares of the industrial products company’s stock valued at $85,897,000 after acquiring an additional 14,926 shares in the last quarter. Finally, Artisan Partners Limited Partnership grew its holdings in Applied Industrial Technologies by 15.8% in the second quarter. Artisan Partners Limited Partnership now owns 322,822 shares of the industrial products company’s stock worth $75,040,000 after purchasing an additional 43,982 shares during the last quarter. Institutional investors own 93.52% of the company’s stock.

Applied Industrial Technologies Price Performance

NYSE:AIT opened at $257.23 on Thursday. The firm’s fifty day moving average is $254.82 and its two-hundred day moving average is $251.30. The firm has a market cap of $9.70 billion, a price-to-earnings ratio of 24.76, a PEG ratio of 2.61 and a beta of 0.99. Applied Industrial Technologies, Inc. has a one year low of $199.96 and a one year high of $282.98. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.36 and a current ratio of 3.55.

Applied Industrial Technologies (NYSE:AIT) last posted its earnings results on Tuesday, October 28th. The industrial products company reported $2.63 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 firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same period last year, the company earned $2.36 earnings per share. 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. Research analysts expect that Applied Industrial Technologies, Inc. will post 9.9 EPS for the current year.

Applied Industrial Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Friday, November 14th. Applied Industrial Technologies’s dividend payout ratio is presently 17.71%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Industrial Alliance Securities set a $290.00 price objective on Applied Industrial Technologies in a research report on Friday, August 22nd. Mizuho set a $305.00 price objective on shares of Applied Industrial Technologies in a report on Wednesday, October 29th. Weiss Ratings reissued a “buy (b-)” rating on shares of Applied Industrial Technologies in a research report on Tuesday. Oppenheimer upped their target price on Applied Industrial Technologies from $290.00 to $300.00 and gave the company an “outperform” rating in a research report on Friday, August 15th. Finally, Raymond James Financial downgraded Applied Industrial Technologies from an “outperform” rating to a “market perform” rating in a research note on Friday, August 15th. Six analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Applied Industrial Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $287.50.

Applied Industrial Technologies Company 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.