Oak Associates Ltd. OH Has $5.74 Million Stock Position in Applied Industrial Technologies, Inc. $AIT

Oak Associates Ltd. OH cut its stake in Applied Industrial Technologies, Inc. (NYSE:AIT) by 13.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,697 shares of the industrial products company’s stock after selling 3,850 shares during the period. Oak Associates Ltd. OH’s holdings in Applied Industrial Technologies were worth $5,741,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. 111 Capital acquired a new position in Applied Industrial Technologies in the 2nd quarter valued at approximately $980,000. Envestnet Asset Management Inc. grew its holdings in shares of Applied Industrial Technologies by 38.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 73,784 shares of the industrial products company’s stock worth $17,151,000 after purchasing an additional 20,535 shares in the last quarter. Voya Investment Management LLC increased its position in shares of Applied Industrial Technologies by 522.2% during the first quarter. Voya Investment Management LLC now owns 143,696 shares of the industrial products company’s stock valued at $32,380,000 after purchasing an additional 120,602 shares during the period. Regents Gate Capital LLP bought a new stake in shares of Applied Industrial Technologies during the second quarter valued at approximately $11,387,000. Finally, Vident Advisory LLC acquired a new position in shares of Applied Industrial Technologies in the first quarter valued at $239,000. Institutional investors own 93.52% of the company’s stock.

Applied Industrial Technologies Trading Down 0.1%

AIT stock opened at $248.79 on Tuesday. 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 twelve month low of $199.96 and a twelve month high of $282.98. The company has a market cap of $9.38 billion, a P/E ratio of 23.95, a PEG ratio of 2.61 and a beta of 0.99. The business has a fifty day moving average of $255.00 and a 200-day moving average of $251.00.

Applied Industrial Technologies (NYSE:AIT) last posted its quarterly earnings results on Tuesday, October 28th. The industrial products company reported $2.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.47 by $0.16. The business had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.19 billion. Applied Industrial Technologies had a return on equity of 21.86% and a net margin of 8.61%.The firm’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same quarter last year, the business earned $2.36 earnings per share. Applied Industrial Technologies has set its FY 2026 guidance at 10.100-10.850 EPS. As a group, equities research analysts expect that Applied Industrial Technologies, Inc. will post 9.9 EPS for the current year.

Applied Industrial Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Friday, November 14th. Applied Industrial Technologies’s payout ratio is currently 17.71%.

Analyst Upgrades and Downgrades

AIT has been the topic of several analyst reports. Industrial Alliance Securities set a $290.00 price objective on shares of Applied Industrial Technologies in a research note on Friday, August 22nd. Raymond James Financial lowered Applied Industrial Technologies from an “outperform” rating to a “market perform” rating in a research note on Friday, August 15th. Robert W. Baird increased their target price on Applied Industrial Technologies from $265.00 to $300.00 and gave the stock an “outperform” rating in a report on Friday, August 15th. Bank of America boosted their price target 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. Finally, Oppenheimer increased their price objective on Applied Industrial Technologies from $290.00 to $300.00 and gave the stock an “outperform” rating in a research note on Friday, August 15th. Six equities research analysts have rated the stock with a Buy rating and one has assigned 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 a consensus target price 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.