Grace & White Inc. NY Cuts Stake in Applied Industrial Technologies, Inc. $AIT

Grace & White Inc. NY trimmed its holdings in Applied Industrial Technologies, Inc. (NYSE:AIT) by 2.0% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 144,323 shares of the industrial products company’s stock after selling 2,918 shares during the period. Applied Industrial Technologies comprises approximately 6.6% of Grace & White Inc. NY’s portfolio, making the stock its 2nd largest holding. Grace & White Inc. NY’s holdings in Applied Industrial Technologies were worth $37,676,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Baird Financial Group Inc. increased its stake in Applied Industrial Technologies by 7.6% in the first quarter. Baird Financial Group Inc. now owns 1,709 shares of the industrial products company’s stock worth $385,000 after purchasing an additional 121 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Applied Industrial Technologies by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,891 shares of the industrial products company’s stock worth $5,158,000 after purchasing an additional 999 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in Applied Industrial Technologies by 4.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 381,187 shares of the industrial products company’s stock worth $85,897,000 after buying an additional 14,926 shares during the period. Empowered Funds LLC bought a new stake in Applied Industrial Technologies during the 1st quarter valued at about $318,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Applied Industrial Technologies by 12.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 98,348 shares of the industrial products company’s stock valued at $22,162,000 after buying an additional 10,863 shares in the last quarter. 93.52% of the stock is owned by institutional investors.

Applied Industrial Technologies Price Performance

Shares of AIT opened at $264.37 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.50 and a current ratio of 3.55. The company has a 50 day moving average price of $257.47 and a 200-day moving average price of $258.02. Applied Industrial Technologies, Inc. has a fifty-two week low of $199.96 and a fifty-two week high of $280.95. The stock has a market capitalization of $9.97 billion, a PE ratio of 25.44, a PEG ratio of 2.66 and a beta of 0.87.

Applied Industrial Technologies (NYSE:AIT) last issued its quarterly earnings data on Tuesday, October 28th. The industrial products company reported $2.63 EPS for the quarter, topping analysts’ consensus estimates of $2.47 by $0.16. The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.36 earnings per share. Applied Industrial Technologies has set its FY 2026 guidance at 10.100-10.850 EPS. Equities analysts predict that Applied Industrial Technologies, Inc. will post 9.9 earnings per share for the current fiscal year.

Applied Industrial Technologies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Friday, November 14th were issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Friday, November 14th. Applied Industrial Technologies’s dividend payout ratio (DPR) is currently 17.71%.

Wall Street Analyst Weigh In

AIT has been the topic of a number of research analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of Applied Industrial Technologies in a research note on Monday, December 29th. Mizuho set a $305.00 price objective on Applied Industrial Technologies in a research note on Wednesday, October 29th. Six research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $287.50.

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.