Swiss National Bank Trims Stock Position in Applied Industrial Technologies, Inc. $AIT

Swiss National Bank decreased its holdings in Applied Industrial Technologies, Inc. (NYSE:AIT) by 1.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 73,300 shares of the industrial products company’s stock after selling 1,200 shares during the quarter. Swiss National Bank owned approximately 0.19% of Applied Industrial Technologies worth $17,039,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. GAMMA Investing LLC grew its holdings in Applied Industrial Technologies by 2.9% in the second quarter. GAMMA Investing LLC now owns 1,453 shares of the industrial products company’s stock valued at $338,000 after purchasing an additional 41 shares during the period. Ritholtz Wealth Management boosted its holdings in shares of Applied Industrial Technologies by 0.3% in the 2nd quarter. Ritholtz Wealth Management now owns 15,526 shares of the industrial products company’s stock valued at $3,609,000 after purchasing an additional 53 shares during the last quarter. Contravisory Investment Management Inc. grew its stake in shares of Applied Industrial Technologies by 9.9% during the 2nd quarter. Contravisory Investment Management Inc. now owns 645 shares of the industrial products company’s stock valued at $150,000 after buying an additional 58 shares during the period. Focus Partners Wealth grew its stake in shares of 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 buying an additional 58 shares during the period. Finally, Jump Financial LLC increased its holdings in shares of Applied Industrial Technologies by 3.7% during the 1st quarter. Jump Financial LLC now owns 1,895 shares of the industrial products company’s stock worth $427,000 after buying an additional 68 shares during the last quarter. 93.52% of the stock is currently owned by hedge funds and other institutional investors.

Applied Industrial Technologies Price Performance

Shares of AIT stock opened at $257.23 on Thursday. The company has a market capitalization of $9.70 billion, a PE ratio of 24.76, a price-to-earnings-growth ratio of 2.61 and a beta of 0.99. The firm has a fifty day simple moving average of $254.82 and a 200-day simple moving average of $251.30. 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 released its quarterly earnings results 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. The firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate 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 quarterly revenue was up 9.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.36 EPS. 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 Dividend Announcement

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

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Robert W. Baird lifted their target price on Applied Industrial Technologies from $265.00 to $300.00 and gave the company an “outperform” rating in a report on Friday, August 15th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Applied Industrial Technologies in a research note on Tuesday. Bank of America increased their target price on shares of Applied Industrial Technologies from $275.00 to $290.00 and gave the stock a “buy” rating in a research report on Friday, August 22nd. Mizuho set a $305.00 price target on shares of Applied Industrial Technologies in a report on Wednesday, October 29th. Finally, Raymond James Financial downgraded shares of 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. According to MarketBeat.com, Applied Industrial Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $287.50.

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.