TimesSquare Capital Management LLC Increases Stock Holdings in Applied Industrial Technologies, Inc. $AIT

TimesSquare Capital Management LLC increased its holdings in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 12.0% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 96,775 shares of the industrial products company’s stock after purchasing an additional 10,341 shares during the quarter. TimesSquare Capital Management LLC’s holdings in Applied Industrial Technologies were worth $25,263,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of Applied Industrial Technologies during the 2nd quarter valued at about $107,228,000. Royal London Asset Management Ltd. increased its position in Applied Industrial Technologies by 69.2% during the second quarter. Royal London Asset Management Ltd. now owns 393,743 shares of the industrial products company’s stock worth $91,526,000 after purchasing an additional 161,048 shares during the last quarter. Goldman Sachs Group Inc. increased 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 worth $85,897,000 after purchasing an additional 14,926 shares during the last quarter. Bank of America Corp DE raised its stake in Applied Industrial Technologies by 47.8% during the second quarter. Bank of America Corp DE now owns 374,627 shares of the industrial products company’s stock worth $87,082,000 after purchasing an additional 121,163 shares during the period. Finally, Qube Research & Technologies Ltd acquired a new position in shares of Applied Industrial Technologies in the 2nd quarter valued at $81,722,000. Hedge funds and other institutional investors own 93.52% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Wall Street Zen downgraded Applied Industrial Technologies from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. KeyCorp cut their price objective on Applied Industrial Technologies from $310.00 to $300.00 and set an “overweight” rating on the stock in a report on Wednesday, January 28th. Mizuho set a $305.00 price objective on Applied Industrial Technologies in a research note on Wednesday, October 29th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Applied Industrial Technologies in a research report on Monday, December 29th. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Applied Industrial Technologies has a consensus rating of “Moderate Buy” and an average target price of $290.63.

Applied Industrial Technologies Price Performance

Shares of NYSE AIT opened at $279.82 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.68 and a quick ratio of 2.56. Applied Industrial Technologies, Inc. has a 1-year low of $199.96 and a 1-year high of $296.70. The company has a market capitalization of $10.44 billion, a price-to-earnings ratio of 26.62, a PEG ratio of 2.69 and a beta of 0.84. The business has a 50-day moving average of $269.79 and a 200-day moving average of $262.82.

Applied Industrial Technologies (NYSE:AIT) last released its quarterly earnings results on Tuesday, January 27th. The industrial products company reported $2.51 EPS for the quarter, topping the consensus estimate of $2.48 by $0.03. Applied Industrial Technologies had a return on equity of 21.74% and a net margin of 8.49%.The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same period in the previous year, the company posted $2.39 EPS. Applied Industrial Technologies’s revenue for the quarter was up 8.4% on a year-over-year basis. Applied Industrial Technologies has set its FY 2026 guidance at 10.450-10.750 EPS. On average, equities analysts anticipate that Applied Industrial Technologies, Inc. will post 9.9 EPS for the current fiscal year.

Applied Industrial Technologies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Friday, February 13th will be issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Friday, February 13th. This is a positive change from Applied Industrial Technologies’s previous quarterly dividend of $0.46. Applied Industrial Technologies’s dividend payout ratio (DPR) is 17.51%.

Insider Buying and Selling

In other Applied Industrial Technologies news, VP Jason W. Vasquez sold 5,447 shares of the company’s stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $287.87, for a total value of $1,568,027.89. Following the completion of the transaction, the vice president directly owned 14,491 shares of the company’s stock, valued at $4,171,524.17. This represents a 27.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Warren E. Hoffner III sold 4,000 shares of the firm’s stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $288.62, for a total value of $1,154,480.00. Following the sale, the vice president owned 52,751 shares of the company’s stock, valued at $15,224,993.62. This represents a 7.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 28,654 shares of company stock valued at $8,212,829 in the last quarter. Company insiders own 1.60% of the company’s stock.

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.