Westfield Capital Management Co. LP Purchases 14,094 Shares of Applied Industrial Technologies, Inc. $AIT

Westfield Capital Management Co. LP boosted its position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 6.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 234,734 shares of the industrial products company’s stock after acquiring an additional 14,094 shares during the quarter. Westfield Capital Management Co. LP owned 0.62% of Applied Industrial Technologies worth $61,277,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in AIT. Smartleaf Asset Management LLC increased its stake in shares of Applied Industrial Technologies by 890.0% during 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 during the last quarter. Root Financial Partners LLC bought a new position in Applied Industrial Technologies during the third quarter worth about $27,000. Abich Financial Wealth Management LLC acquired a new position in Applied Industrial Technologies during the third quarter worth approximately $29,000. Hantz Financial Services Inc. raised its stake in Applied Industrial Technologies by 2,033.3% in the second quarter. Hantz Financial Services Inc. now owns 128 shares of the industrial products company’s stock valued at $30,000 after buying an additional 122 shares during the period. Finally, First Horizon Corp acquired a new stake in shares of Applied Industrial Technologies in the third quarter valued at approximately $47,000. Institutional investors and hedge funds own 93.52% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Weiss Ratings reissued a “buy (b)” rating on shares of Applied Industrial Technologies in a report on Monday, December 29th. Wall Street Zen downgraded shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Finally, KeyCorp increased their price objective 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. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $294.38.

Applied Industrial Technologies Stock Performance

AIT opened at $283.66 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. The business has a fifty day simple moving average of $273.57 and a 200 day simple moving average of $263.70. 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 $10.58 billion, a PE ratio of 26.99, a price-to-earnings-growth ratio of 2.69 and a beta of 0.84.

Applied Industrial Technologies (NYSE:AIT) last announced its earnings results on Tuesday, January 27th. The industrial products company reported $2.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter in the previous year, the business posted $2.39 earnings per share. Applied Industrial Technologies’s quarterly revenue 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. Research analysts expect that Applied Industrial Technologies, Inc. will post 9.9 EPS for the current year.

Applied Industrial Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 13th will be issued a $0.51 dividend. The ex-dividend date of this dividend is Friday, February 13th. This represents a $2.04 dividend on an annualized basis and a 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 presently 19.41%.

Insiders Place Their Bets

In related news, CEO Neil A. 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 completion of the sale, the chief executive officer directly owned 130,528 shares in the company, valued at approximately $37,311,428.80. The trade was a 12.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Warren E. Hoffner III sold 4,000 shares of the firm’s stock in a transaction on 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 transaction, the vice president owned 52,751 shares in the company, valued at approximately $15,224,993.62. This trade represents a 7.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 28,654 shares of company stock worth $8,212,829 in the last quarter. Corporate insiders own 1.60% of the company’s stock.

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.