Kingsview Wealth Management LLC Purchases 2,548 Shares of Applied Industrial Technologies, Inc. $AIT

Kingsview Wealth Management LLC raised its position in Applied Industrial Technologies, Inc. (NYSE:AIT) by 12.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,837 shares of the industrial products company’s stock after purchasing an additional 2,548 shares during the period. Kingsview Wealth Management LLC owned 0.06% of Applied Industrial Technologies worth $5,962,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Smartleaf Asset Management LLC raised 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 worth $26,000 after buying an additional 89 shares in the last quarter. Root Financial Partners LLC purchased a new position in Applied Industrial Technologies during the third quarter worth about $27,000. Abich Financial Wealth Management LLC bought a new position in Applied Industrial Technologies in the 3rd quarter worth about $29,000. Hantz Financial Services Inc. increased its stake in Applied Industrial Technologies by 2,033.3% in the 2nd quarter. Hantz Financial Services Inc. now owns 128 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 122 shares during the last quarter. Finally, First Horizon Corp purchased a new stake in shares of Applied Industrial Technologies in the 3rd quarter valued at about $47,000. 93.52% of the stock is currently owned by hedge funds and other institutional investors.

Applied Industrial Technologies Price Performance

Shares of Applied Industrial Technologies stock opened at $283.91 on Tuesday. The firm has a market capitalization of $10.59 billion, a PE ratio of 27.01, a price-to-earnings-growth ratio of 2.70 and a beta of 0.80. The company has a current ratio of 3.68, a quick ratio of 2.56 and a debt-to-equity ratio of 0.31. Applied Industrial Technologies, Inc. has a 12 month low of $199.96 and a 12 month high of $296.70. The business’s 50-day moving average price is $274.39 and its 200-day moving average price is $263.78.

Applied Industrial Technologies (NYSE:AIT) last issued its earnings results on Tuesday, January 27th. The industrial products company reported $2.51 earnings per share (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 business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same quarter in the prior year, the firm earned $2.39 earnings per share. 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. Sell-side analysts forecast that Applied Industrial Technologies, Inc. will post 9.9 EPS for the current fiscal year.

Applied Industrial Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Friday, February 13th were issued a dividend of $0.51 per share. The ex-dividend date of this dividend was Friday, February 13th. This represents a $2.04 annualized dividend and a dividend yield of 0.7%. This is an increase from Applied Industrial Technologies’s previous quarterly dividend of $0.46. Applied Industrial Technologies’s payout ratio is 19.41%.

Analysts Set New Price Targets

Several research analysts have recently commented on AIT shares. Wall Street Zen raised Applied Industrial Technologies from a “hold” rating to a “buy” rating in a report on Saturday. KeyCorp lifted their target price on shares of Applied Industrial Technologies from $300.00 to $330.00 and gave the company an “overweight” rating in a research report on Thursday, February 26th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Applied Industrial Technologies in a research note on Monday, December 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 stock presently has a consensus rating of “Moderate Buy” and an average price target of $294.38.

Insider Buying and Selling

In other news, CEO Neil A. Schrimsher sold 19,207 shares of the firm’s stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $285.85, for a total transaction of $5,490,320.95. Following the transaction, the chief executive officer directly owned 130,528 shares of the company’s stock, valued at approximately $37,311,428.80. This trade represents a 12.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Warren E. Hoffner III sold 4,000 shares of the business’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 completion of the sale, the vice president directly owned 52,751 shares of the company’s stock, valued at approximately $15,224,993.62. This trade represents a 7.05% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 28,654 shares of company stock worth $8,212,829 in the last 90 days. 1.60% of the stock is owned by company insiders.

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.