Insider Selling: Applied Industrial Technologies (NYSE:AIT) Director Sells $1,268,427.05 in Stock

Applied Industrial Technologies, Inc. (NYSE:AIT) Director Madhuri Andrews sold 3,845 shares of the business’s stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $329.89, for a total value of $1,268,427.05. Following the transaction, the director owned 4,951 shares in the company, valued at $1,633,285.39. This represents a 43.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Applied Industrial Technologies Trading Up 1.0%

Applied Industrial Technologies stock opened at $334.06 on Thursday. The business has a 50 day moving average price of $309.73 and a two-hundred day moving average price of $284.26. The company has a quick ratio of 1.97, a current ratio of 2.95 and a debt-to-equity ratio of 0.19. Applied Industrial Technologies, Inc. has a 12 month low of $223.13 and a 12 month high of $340.37. The stock has a market cap of $12.35 billion, a price-to-earnings ratio of 31.54, a price-to-earnings-growth ratio of 3.15 and a beta of 0.84.

Applied Industrial Technologies (NYSE:AIT) last announced its quarterly earnings data on Tuesday, April 28th. The industrial products company reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.63 by $0.02. The company had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.23 billion. Applied Industrial Technologies had a return on equity of 21.64% and a net margin of 8.34%.Applied Industrial Technologies’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter last year, the firm 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 analysts forecast that Applied Industrial Technologies, Inc. will post 10.71 EPS for the current year.

Applied Industrial Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Friday, August 14th will be given a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Friday, August 14th. Applied Industrial Technologies’s dividend payout ratio (DPR) is 19.26%.

Analysts Set New Price Targets

AIT has been the topic of several analyst reports. Oppenheimer boosted 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. DA Davidson initiated coverage on shares of Applied Industrial Technologies in a research report on Tuesday, June 16th. They set a “buy” rating and a $380.00 target price on the stock. Wall Street Zen lowered shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Robert W. Baird set a $317.00 target price on shares of Applied Industrial Technologies in a research note on Wednesday, April 29th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Applied Industrial Technologies in a research report on Friday, April 24th. 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, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $323.14.

Institutional Trading of Applied Industrial Technologies

Large investors have recently bought and sold shares of the stock. First Trust Advisors LP grew its holdings in shares of Applied Industrial Technologies by 22.7% in the 3rd quarter. First Trust Advisors LP now owns 933,067 shares of the industrial products company’s stock worth $243,577,000 after purchasing an additional 172,857 shares during the last quarter. Distillate Capital Partners LLC bought a new position in Applied Industrial Technologies during the 3rd quarter valued at about $13,281,000. Citigroup Inc. lifted its holdings in Applied Industrial Technologies by 44.4% during the 3rd quarter. Citigroup Inc. now owns 30,319 shares of the industrial products company’s stock valued at $7,915,000 after purchasing an additional 9,321 shares during the last quarter. Westfield Capital Management Co. LP boosted its position in Applied Industrial Technologies by 6.4% in the third quarter. Westfield Capital Management Co. LP now owns 234,734 shares of the industrial products company’s stock valued at $61,277,000 after buying an additional 14,094 shares in the last quarter. Finally, Barclays PLC boosted its position in Applied Industrial Technologies by 91.4% in the third quarter. Barclays PLC now owns 100,244 shares of the industrial products company’s stock valued at $26,169,000 after buying an additional 47,868 shares in the last quarter. 93.52% of the stock is currently owned by institutional investors.

About Applied Industrial Technologies

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.