Kennedy Capital Management LLC Trims Holdings in Applied Industrial Technologies, Inc. $AIT

Kennedy Capital Management LLC reduced its stake in Applied Industrial Technologies, Inc. (NYSE:AIT) by 9.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 56,357 shares of the industrial products company’s stock after selling 5,823 shares during the quarter. Kennedy Capital Management LLC owned approximately 0.15% of Applied Industrial Technologies worth $14,712,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Jones Financial Companies Lllp raised its stake in shares of Applied Industrial Technologies by 3.3% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,410 shares of the industrial products company’s stock valued at $369,000 after acquiring an additional 45 shares during the period. Quadrant Capital Group LLC increased its holdings in Applied Industrial Technologies by 1.1% in the 3rd quarter. Quadrant Capital Group LLC now owns 4,631 shares of the industrial products company’s stock valued at $1,209,000 after purchasing an additional 51 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in Applied Industrial Technologies by 13.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 457 shares of the industrial products company’s stock valued at $119,000 after purchasing an additional 53 shares during the last quarter. Skandinaviska Enskilda Banken AB publ raised its position in Applied Industrial Technologies by 11.9% in the third quarter. Skandinaviska Enskilda Banken AB publ now owns 516 shares of the industrial products company’s stock valued at $135,000 after purchasing an additional 55 shares during the period. Finally, Harfst & Associates Inc. lifted its stake in Applied Industrial Technologies by 0.6% during the third quarter. Harfst & Associates Inc. now owns 10,167 shares of the industrial products company’s stock worth $2,654,000 after purchasing an additional 56 shares in the last quarter. 93.52% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, VP Jason W. Vasquez sold 5,447 shares of the stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $287.87, for a total value of $1,568,027.89. Following the completion of the sale, the vice president directly owned 14,491 shares of the company’s stock, valued at approximately $4,171,524.17. This represents a 27.32% decrease in their ownership of the stock. The transaction was disclosed in a legal 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 firm’s stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $288.62, for a total transaction 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 28,654 shares of company stock worth $8,212,829 in the last quarter. 1.60% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Applied Industrial Technologies in a research note on Monday, December 29th. Wall Street Zen upgraded Applied Industrial Technologies from a “hold” rating to a “buy” rating in a report on Saturday, February 28th. Finally, KeyCorp lifted their target price 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. Six equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $294.38.

Applied Industrial Technologies Stock Down 1.4%

Shares of AIT traded down $3.51 during mid-day trading on Friday, reaching $256.37. The company’s stock had a trading volume of 17,352 shares, compared to its average volume of 332,365. Applied Industrial Technologies, Inc. has a 12-month low of $199.96 and a 12-month high of $296.70. The stock has a market cap of $9.56 billion, a PE ratio of 24.36, a price-to-earnings-growth ratio of 2.59 and a beta of 0.81. 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 company’s 50 day moving average is $275.74 and its 200 day moving average is $264.24.

Applied Industrial Technologies (NYSE:AIT) last announced its quarterly earnings results on Tuesday, January 27th. The industrial products company reported $2.51 EPS for the quarter, beating 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 company 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 firm’s 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. Equities analysts anticipate that Applied Industrial Technologies, Inc. will post 9.9 EPS for the current fiscal year.

Applied Industrial Technologies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Friday, February 13th were issued a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 0.8%. 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. Applied Industrial Technologies’s dividend payout ratio (DPR) is presently 19.41%.

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.