AXQ Capital LP Invests $1.02 Million in Applied Industrial Technologies, Inc. $AIT

AXQ Capital LP acquired a new position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,956 shares of the industrial products company’s stock, valued at approximately $1,016,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Torren Management LLC purchased a new stake in Applied Industrial Technologies in the 4th quarter valued at about $25,000. Smartleaf Asset Management LLC raised its holdings in shares of Applied Industrial Technologies by 890.0% in the 3rd quarter. Smartleaf Asset Management LLC now owns 99 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 89 shares during the period. Abich Financial Wealth Management LLC bought a new stake in shares of Applied Industrial Technologies in the 3rd quarter worth approximately $29,000. V Square Quantitative Management LLC bought a new stake in shares of Applied Industrial Technologies in the 4th quarter worth approximately $34,000. Finally, Allworth Financial LP boosted its holdings in Applied Industrial Technologies by 446.4% in the 3rd quarter. Allworth Financial LP now owns 153 shares of the industrial products company’s stock worth $40,000 after buying an additional 125 shares during the period. Institutional investors and hedge funds own 93.52% of the company’s stock.

Insider Buying and Selling

In related news, VP Warren E. Hoffner III sold 8,000 shares of Applied Industrial Technologies stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $306.04, for a total value of $2,448,320.00. Following the transaction, the vice president owned 40,751 shares in the company, valued at $12,471,436.04. This trade represents a 16.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

AIT has been the subject of several analyst reports. Wall Street Zen downgraded shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Weiss Ratings reissued a “buy (b)” rating on shares of Applied Industrial Technologies in a report on Friday, April 24th. KeyCorp raised their price target on shares of Applied Industrial Technologies from $300.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, February 26th. Robert W. Baird set a $317.00 price target on shares of Applied Industrial Technologies in a report on Wednesday, April 29th. Finally, Oppenheimer raised their price target on shares of Applied Industrial Technologies from $300.00 to $350.00 and gave the company an “outperform” rating in a report on Wednesday, April 29th. Five analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Applied Industrial Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $313.67.

Applied Industrial Technologies Stock Performance

NYSE AIT opened at $307.81 on Wednesday. Applied Industrial Technologies, Inc. has a 52-week low of $223.13 and a 52-week high of $317.10. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.97 and a current ratio of 2.95. The company has a market capitalization of $11.38 billion, a P/E ratio of 29.07, a P/E/G ratio of 2.87 and a beta of 0.84. The company has a fifty day moving average of $291.61 and a 200-day moving average of $275.77.

Applied Industrial Technologies (NYSE:AIT) last issued its earnings results on Tuesday, April 28th. The industrial products company reported $2.65 EPS for the quarter, topping analysts’ consensus estimates of $2.63 by $0.02. The company had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.23 billion. Applied Industrial Technologies had a net margin of 8.34% and a return on equity of 21.64%. The firm’s revenue was up 7.3% compared to the same quarter last year. During the same quarter last year, the company earned $2.57 EPS. Applied Industrial Technologies has set its Q4 2026 guidance at 2.850-2.960 EPS and its FY 2026 guidance at 10.640-10.750 EPS. As a group, equities research analysts predict that Applied Industrial Technologies, Inc. will post 10.7 EPS for the current fiscal year.

Applied Industrial Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Friday, May 15th. Applied Industrial Technologies’s dividend payout ratio (DPR) is presently 19.26%.

Applied Industrial Technologies Company Profile

Applied Industrial Technologies, listed on the New York Stock Exchange under the symbol AIT, is a leading distributor of industrial products and services. The company offers a comprehensive range of bearings, power transmission components, fluid power products, industrial rubber products, and automation solutions. Through its network of distribution centers and branch locations, Applied Industrial Technologies serves diverse end markets including manufacturing, oil and gas, mining, food and beverage, and wastewater treatment.

Founded in 1923 and headquartered in Cleveland, Ohio, Applied Industrial Technologies has grown through a combination of organic expansion and strategic acquisitions.