Applied Industrial Technologies (NYSE:AIT) CEO Neil Schrimsher Sells 19,207 Shares

Applied Industrial Technologies, Inc. (NYSE:AIT) CEO Neil Schrimsher sold 19,207 shares of the business’s stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $285.85, for a total value of $5,490,320.95. Following the transaction, the chief executive officer directly owned 130,528 shares in the company, valued at $37,311,428.80. This trade represents a 12.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Applied Industrial Technologies Price Performance

NYSE:AIT opened at $292.27 on Friday. The stock has a market capitalization of $10.90 billion, a PE ratio of 27.81, a P/E/G ratio of 2.92 and a beta of 0.84. Applied Industrial Technologies, Inc. has a 1-year low of $199.96 and a 1-year high of $295.26. The firm has a fifty day simple moving average of $267.30 and a 200 day simple moving average of $262.41. 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 (NYSE:AIT) last posted its quarterly 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 net margin of 8.49% and a return on equity of 21.74%. 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 prior year, the firm posted $2.39 earnings per share. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. Applied Industrial Technologies has set its FY 2026 guidance at 10.450-10.750 EPS. On average, research analysts expect that Applied Industrial Technologies, Inc. will post 9.9 EPS for the current fiscal year.

Applied Industrial Technologies Increases Dividend

The firm 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. The ex-dividend date is 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 yield of 0.7%. Applied Industrial Technologies’s dividend payout ratio is 17.51%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in AIT. Torren Management LLC bought a new stake in shares of Applied Industrial Technologies in the fourth quarter valued at about $25,000. Smartleaf Asset Management LLC raised its stake in Applied Industrial Technologies by 890.0% in the 3rd quarter. Smartleaf Asset Management LLC now owns 99 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 89 shares in the last quarter. Root Financial Partners LLC bought a new stake in Applied Industrial Technologies in the 3rd quarter valued at about $27,000. Abich Financial Wealth Management LLC acquired a new position in shares of Applied Industrial Technologies during the 3rd quarter worth approximately $29,000. Finally, Hantz Financial Services Inc. grew its position in shares of Applied Industrial Technologies by 2,033.3% during the 2nd quarter. Hantz Financial Services Inc. now owns 128 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 122 shares in the last quarter. Institutional investors own 93.52% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on AIT shares. Mizuho set a $305.00 price objective on Applied Industrial Technologies in a research report on Wednesday, October 29th. Wall Street Zen downgraded Applied Industrial Technologies from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. KeyCorp reduced their price objective on shares of Applied Industrial Technologies from $310.00 to $300.00 and set an “overweight” rating for the company in a research report on Wednesday, January 28th. 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 issued a Hold rating to the company. According to MarketBeat, Applied Industrial Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $290.63.

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.