Applied Industrial Technologies, Inc. $AIT Stock Holdings Decreased by KBC Group NV

KBC Group NV lowered its position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 36.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,123 shares of the industrial products company’s stock after selling 631 shares during the quarter. KBC Group NV’s holdings in Applied Industrial Technologies were worth $261,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Alyeska Investment Group L.P. grew its position in Applied Industrial Technologies by 27.9% during the 1st 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 boosted its position in shares of Applied Industrial Technologies by 2.0% in the second quarter. Boston Trust Walden Corp now owns 508,120 shares of the industrial products company’s stock worth $118,113,000 after buying an additional 10,015 shares during the period. Alliancebernstein L.P. grew its holdings in shares of 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 buying an additional 357,568 shares in the last quarter. Goldman Sachs Group Inc. raised its position in Applied Industrial Technologies by 4.1% during 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 buying an additional 14,926 shares during the period. Finally, Millennium Management LLC lifted its stake in Applied Industrial Technologies by 144.0% in the 1st quarter. Millennium Management LLC now owns 320,903 shares of the industrial products company’s stock worth $72,312,000 after acquiring an additional 189,408 shares in the last quarter. Institutional investors and hedge funds own 93.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on AIT. Bank of America lifted their target price on Applied Industrial Technologies from $275.00 to $290.00 and gave the company a “buy” rating in a research note on Friday, August 22nd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Applied Industrial Technologies in a research report on Thursday, November 13th. Oppenheimer increased their target price on shares of Applied Industrial Technologies from $290.00 to $300.00 and gave the stock an “outperform” rating in a research report on Friday, August 15th. 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. Finally, Wall Street Zen raised Applied Industrial Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, July 26th. Six equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Applied Industrial Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $287.50.

Applied Industrial Technologies Stock Performance

Shares of AIT opened at $242.46 on Wednesday. The firm has a market cap of $9.14 billion, a price-to-earnings ratio of 23.34, a price-to-earnings-growth ratio of 2.61 and a beta of 0.99. The company’s fifty day moving average is $256.47 and its 200-day moving average is $250.29. The company has a quick ratio of 2.36, a current ratio of 3.55 and a debt-to-equity ratio of 0.30. Applied Industrial Technologies, Inc. has a 12 month low of $199.96 and a 12 month high of $282.98.

Applied Industrial Technologies (NYSE:AIT) last issued its quarterly earnings data on Tuesday, October 28th. The industrial products company reported $2.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.47 by $0.16. The firm had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.19 billion. Applied Industrial Technologies had a net margin of 8.61% and a return on equity of 21.86%. Applied Industrial Technologies’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same period in the prior year, the company posted $2.36 earnings per share. Applied Industrial Technologies has set its FY 2026 guidance at 10.100-10.850 EPS. Equities analysts expect that Applied Industrial Technologies, Inc. will post 9.9 EPS for the current fiscal year.

Applied Industrial Technologies Dividend Announcement

The business also recently disclosed 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. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Friday, November 14th. Applied Industrial Technologies’s dividend payout ratio (DPR) is presently 17.71%.

Insider Buying and Selling

In other news, VP Kurt W. Loring sold 8,523 shares of Applied Industrial Technologies stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $267.06, for a total value of $2,276,152.38. Following the transaction, the vice president owned 19,273 shares of the company’s stock, valued at $5,147,047.38. This trade represents a 30.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Jason W. Vasquez sold 7,466 shares of the company’s stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $260.08, for a total transaction of $1,941,757.28. Following the sale, the vice president directly owned 14,491 shares of the company’s stock, valued at approximately $3,768,819.28. This represents a 34.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 42,660 shares of company stock worth $11,217,980. 1.60% of the stock is currently owned by insiders.

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.