Applied Industrial Technologies, Inc. $AIT Shares Purchased by Fifth Third Bancorp

Fifth Third Bancorp increased its holdings in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 784.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 19,617 shares of the industrial products company’s stock after buying an additional 17,398 shares during the period. Fifth Third Bancorp’s holdings in Applied Industrial Technologies were worth $5,205,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Compound Planning Inc. grew its stake in shares of Applied Industrial Technologies by 4.7% during the fourth quarter. Compound Planning Inc. now owns 822 shares of the industrial products company’s stock worth $211,000 after purchasing an additional 37 shares in the last quarter. US Asset Management LLC boosted its stake in Applied Industrial Technologies by 3.3% during the 4th quarter. US Asset Management LLC now owns 1,266 shares of the industrial products company’s stock worth $325,000 after purchasing an additional 41 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in Applied Industrial Technologies by 7.4% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 653 shares of the industrial products company’s stock worth $170,000 after acquiring an additional 45 shares during the period. GAMMA Investing LLC grew its position in Applied Industrial Technologies by 3.6% in the 4th quarter. GAMMA Investing LLC now owns 1,585 shares of the industrial products company’s stock valued at $407,000 after buying an additional 55 shares during the last quarter. Finally, Focus Partners Wealth raised its holdings in Applied Industrial Technologies by 4.5% during the first quarter. Focus Partners Wealth now owns 1,341 shares of the industrial products company’s stock worth $302,000 after purchasing an additional 58 shares in the last quarter. 93.52% of the stock is owned by institutional investors and hedge funds.

Applied Industrial Technologies Price Performance

Applied Industrial Technologies stock opened at $336.35 on Friday. The firm’s 50-day moving average is $320.78 and its two-hundred day moving average is $292.32. Applied Industrial Technologies, Inc. has a 12-month low of $238.34 and a 12-month high of $345.48. The stock has a market capitalization of $12.43 billion, a P/E ratio of 31.76, a P/E/G ratio of 2.87 and a beta of 0.83. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.95 and a quick ratio of 1.97.

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. Applied Industrial Technologies had a net margin of 8.34% and a return on equity of 21.64%. The business had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same period in the prior year, the firm posted $2.57 EPS. The company’s revenue was up 7.3% on a year-over-year basis. 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. Equities analysts predict that Applied Industrial Technologies, Inc. will post 10.71 earnings per share for the current year.

Applied Industrial Technologies Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts have commented on AIT shares. 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. KeyCorp increased their target price on shares of Applied Industrial Technologies from $350.00 to $375.00 and gave the company an “overweight” rating in a report on Monday. Robert W. Baird set a $317.00 price target on Applied Industrial Technologies in a research note on Wednesday, April 29th. Weiss Ratings restated a “buy (b)” rating on shares of Applied Industrial Technologies in a report on Friday, April 24th. Finally, DA Davidson initiated coverage on Applied Industrial Technologies in a research note on Tuesday, June 16th. They issued a “buy” rating and a $380.00 price objective for the company. Six investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $329.57.

Insider Buying and Selling

In other Applied Industrial Technologies news, VP Warren E. Hoffner III sold 8,000 shares of the stock in a transaction that occurred 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 completion of the sale, the vice president owned 40,751 shares of the company’s stock, valued at $12,471,436.04. This trade represents a 16.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Madhuri A. Andrews sold 3,845 shares of the firm’s stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $329.89, for a total transaction of $1,268,427.05. Following the sale, the director directly owned 4,951 shares of the company’s stock, valued at approximately $1,633,285.39. The trade was a 43.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.60% of the stock is owned by corporate insiders.

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.