Legal & General Group Plc Has $14.48 Million Stake in Applied Industrial Technologies, Inc. $AIT

Legal & General Group Plc lessened its position in Applied Industrial Technologies, Inc. (NYSE:AIT) by 23.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 56,390 shares of the industrial products company’s stock after selling 17,239 shares during the period. Legal & General Group Plc owned 0.15% of Applied Industrial Technologies worth $14,479,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. First Trust Advisors LP increased its stake in shares of Applied Industrial Technologies by 22.7% in the third quarter. First Trust Advisors LP now owns 933,067 shares of the industrial products company’s stock valued at $243,577,000 after buying an additional 172,857 shares during the period. Wellington Management Group LLP grew its holdings in Applied Industrial Technologies by 24.7% during the 3rd quarter. Wellington Management Group LLP now owns 769,441 shares of the industrial products company’s stock worth $200,863,000 after acquiring an additional 152,197 shares during the last quarter. Capital International Investors bought a new stake in Applied Industrial Technologies during the 3rd quarter worth approximately $200,456,000. Dimensional Fund Advisors LP increased its position in Applied Industrial Technologies by 1.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 720,352 shares of the industrial products company’s stock valued at $188,040,000 after acquiring an additional 10,408 shares during the period. Finally, Alyeska Investment Group L.P. raised its stake in shares of Applied Industrial Technologies by 7.7% during the third quarter. Alyeska Investment Group L.P. now owns 471,218 shares of the industrial products company’s stock valued at $123,011,000 after acquiring an additional 33,790 shares during the last quarter. 93.52% of the stock is owned by institutional investors and hedge funds.

Applied Industrial Technologies Stock Performance

AIT stock opened at $307.81 on Wednesday. The firm has a market cap of $11.38 billion, a PE ratio of 29.07, a price-to-earnings-growth ratio of 2.87 and a beta of 0.84. The company has a current ratio of 2.95, a quick ratio of 1.97 and a debt-to-equity ratio of 0.19. The stock has a 50-day moving average price of $291.61 and a 200-day moving average price of $275.77. Applied Industrial Technologies, Inc. has a 1-year low of $223.13 and a 1-year high of $317.10.

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 the consensus estimate of $2.63 by $0.02. Applied Industrial Technologies had a return on equity of 21.64% and a net margin of 8.34%.The company had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same quarter in the prior year, the company earned $2.57 EPS. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. 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. As a group, equities research analysts expect that Applied Industrial Technologies, Inc. will post 10.7 earnings per share for the current year.

Applied Industrial Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 15th were given a dividend of $0.51 per share. The ex-dividend date of this dividend was Friday, May 15th. This represents a $2.04 annualized dividend and a dividend yield of 0.7%. Applied Industrial Technologies’s dividend payout ratio (DPR) is 19.26%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on AIT. Robert W. Baird set a $317.00 price objective on shares of Applied Industrial Technologies in a research note on Wednesday, April 29th. Wall Street Zen lowered Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Applied Industrial Technologies in a report on Friday, April 24th. KeyCorp upped their price target on 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, Oppenheimer raised their price objective on Applied Industrial Technologies from $300.00 to $350.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 29th. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $313.67.

Insider Activity at Applied Industrial Technologies

In other news, VP Warren E. Hoffner III sold 8,000 shares of Applied Industrial Technologies stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $306.04, for a total value of $2,448,320.00. Following the completion of the sale, the vice president owned 40,751 shares in the company, valued at $12,471,436.04. The trade was a 16.41% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.60% of the stock is currently owned by company insiders.

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.