GW&K Investment Management LLC Raises Position in Applied Industrial Technologies, Inc. $AIT

GW&K Investment Management LLC raised its position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 2.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 211,182 shares of the industrial products company’s stock after acquiring an additional 5,882 shares during the quarter. GW&K Investment Management LLC owned approximately 0.56% of Applied Industrial Technologies worth $55,131,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in AIT. Goldman Sachs Group Inc. boosted its position in shares of 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 valued at $85,897,000 after purchasing an additional 14,926 shares in the last quarter. Empowered Funds LLC purchased a new position in Applied Industrial Technologies during the first quarter valued at $318,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of 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. Focus Partners Wealth boosted its holdings in shares of Applied Industrial Technologies by 4.5% during the 1st quarter. Focus Partners Wealth now owns 1,341 shares of the industrial products company’s stock valued at $302,000 after buying an additional 58 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its position in shares of Applied Industrial Technologies by 38.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 73,784 shares of the industrial products company’s stock worth $17,151,000 after buying an additional 20,535 shares during the period. Institutional investors own 93.52% of the company’s stock.

Applied Industrial Technologies Trading Up 0.8%

NYSE:AIT opened at $279.85 on Thursday. The company’s 50 day moving average price is $274.98 and its 200-day moving average price is $264.05. Applied Industrial Technologies, Inc. has a 52 week low of $199.96 and a 52 week high of $296.70. The company has a quick ratio of 2.56, a current ratio of 3.68 and a debt-to-equity ratio of 0.31. The stock has a market cap of $10.44 billion, a price-to-earnings ratio of 26.63, a PEG ratio of 2.66 and a beta of 0.81.

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

Applied Industrial Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 27th. Stockholders 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 is an increase from Applied Industrial Technologies’s previous quarterly dividend of $0.46. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.7%. Applied Industrial Technologies’s dividend payout ratio is currently 19.41%.

Insider Activity at Applied Industrial Technologies

In other Applied Industrial Technologies news, VP Warren E. Hoffner III sold 4,000 shares of the business’s stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $288.62, for a total value of $1,154,480.00. Following the completion of the transaction, the vice president owned 52,751 shares of the company’s stock, valued at approximately $15,224,993.62. The trade was a 7.05% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Jason W. Vasquez sold 5,447 shares of the firm’s stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $287.87, for a total transaction of $1,568,027.89. Following the sale, the vice president directly owned 14,491 shares in the company, valued at approximately $4,171,524.17. The trade was a 27.32% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 28,654 shares of company stock valued at $8,212,829 over the last ninety days. Insiders own 1.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. KeyCorp lifted their price target 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. Wall Street Zen raised Applied Industrial Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, February 28th. Finally, Weiss Ratings reaffirmed 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 assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $294.38.

About Applied Industrial Technologies

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.