Mitsubishi UFJ Trust & Banking Corp Decreases Stock Holdings in Applied Industrial Technologies, Inc. $AIT

Mitsubishi UFJ Trust & Banking Corp reduced its position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 41.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 27,126 shares of the industrial products company’s stock after selling 19,000 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Applied Industrial Technologies were worth $6,965,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Smartleaf Asset Management LLC increased its position in shares of Applied Industrial Technologies by 890.0% in the third quarter. Smartleaf Asset Management LLC now owns 99 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 89 shares during the period. Root Financial Partners LLC purchased a new stake in shares of Applied Industrial Technologies during the third quarter worth about $27,000. Abich Financial Wealth Management LLC purchased a new stake in shares of Applied Industrial Technologies during the third quarter worth about $29,000. V Square Quantitative Management LLC bought a new stake in shares of Applied Industrial Technologies in the fourth quarter worth about $34,000. Finally, Allworth Financial LP increased its holdings in Applied Industrial Technologies by 446.4% during the 3rd quarter. Allworth Financial LP now owns 153 shares of the industrial products company’s stock valued at $40,000 after purchasing an additional 125 shares during the period. Hedge funds and other institutional investors own 93.52% of the company’s stock.

Applied Industrial Technologies Price Performance

AIT opened at $302.85 on Friday. The company has a current ratio of 2.95, a quick ratio of 2.56 and a debt-to-equity ratio of 0.19. The company has a market cap of $11.19 billion, a price-to-earnings ratio of 28.60, a price-to-earnings-growth ratio of 2.89 and a beta of 0.86. The stock has a fifty day simple moving average of $276.67 and a two-hundred day simple moving average of $268.19. Applied Industrial Technologies, Inc. has a 12-month low of $213.78 and a 12-month high of $309.67.

Applied Industrial Technologies (NYSE:AIT) last announced its earnings results on Tuesday, April 28th. The industrial products company reported $2.65 EPS for the quarter, beating analysts’ consensus estimates of $2.63 by $0.02. The firm 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 company’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $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. Research analysts predict that Applied Industrial Technologies, Inc. will post 10.7 earnings per share for the current fiscal year.

Applied Industrial Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Friday, May 15th will be paid a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, May 15th. This represents a $2.04 annualized dividend and a yield of 0.7%. Applied Industrial Technologies’s payout ratio is presently 19.26%.

Insiders Place Their Bets

In other news, VP Warren E. Hoffner III sold 4,000 shares of Applied Industrial Technologies stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $288.62, for a total transaction of $1,154,480.00. Following the completion of the transaction, the vice president directly owned 52,751 shares in the company, valued at approximately $15,224,993.62. This trade represents a 7.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Jason W. Vasquez sold 5,447 shares of the business’s stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $287.87, for a total value of $1,568,027.89. Following the completion of the sale, the vice president directly owned 14,491 shares in the company, valued at approximately $4,171,524.17. This represents a 27.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 28,654 shares of company stock worth $8,212,829. 1.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts have commented on the company. Wall Street Zen lowered Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research report on Saturday. Robert W. Baird set a $317.00 price objective on Applied Industrial Technologies in a research report on Wednesday. KeyCorp boosted their target price on Applied Industrial Technologies from $300.00 to $330.00 and gave the company an “overweight” rating in a research note on Thursday, February 26th. Oppenheimer upped their target price on Applied Industrial Technologies from $300.00 to $350.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Applied Industrial Technologies in a report on Friday, April 24th. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $313.67.

Applied Industrial Technologies 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.