Distillate Capital Partners LLC Invests $13.28 Million in Applied Industrial Technologies, Inc. $AIT

Distillate Capital Partners LLC bought a new position in Applied Industrial Technologies, Inc. (NYSE:AIT) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 50,877 shares of the industrial products company’s stock, valued at approximately $13,281,000. Distillate Capital Partners LLC owned 0.13% of Applied Industrial Technologies as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC boosted its holdings in shares of Applied Industrial Technologies by 890.0% during the third 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 period. Root Financial Partners LLC purchased a new position in Applied Industrial Technologies during the 3rd quarter valued at about $27,000. Abich Financial Wealth Management LLC purchased a new position in Applied Industrial Technologies during the 3rd quarter valued at about $29,000. First Horizon Corp bought a new position in Applied Industrial Technologies during the 3rd quarter valued at approximately $47,000. Finally, Johnson Financial Group Inc. bought a new position in Applied Industrial Technologies during the 3rd quarter valued at approximately $69,000. 93.52% of the stock is currently owned by institutional investors.

Insider Activity

In related news, VP Jason W. Vasquez sold 5,447 shares of Applied Industrial Technologies 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 completion of the transaction, the vice president directly owned 14,491 shares of the company’s stock, valued at $4,171,524.17. This trade represents a 27.32% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, 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 transaction of $1,154,480.00. Following the sale, the vice president directly owned 52,751 shares in the company, valued at $15,224,993.62. The trade was a 7.05% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 28,654 shares of company stock worth $8,212,829. Corporate insiders own 1.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. KeyCorp lifted their price objective on Applied Industrial Technologies from $300.00 to $330.00 and gave the stock an “overweight” rating in a research report on Thursday, February 26th. Wall Street Zen upgraded Applied Industrial Technologies from a “hold” rating to a “buy” rating in a report on Saturday, February 28th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Applied Industrial Technologies in a research note 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 company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $294.38.

Applied Industrial Technologies Stock Down 1.7%

AIT stock opened at $255.43 on Monday. Applied Industrial Technologies, Inc. has a fifty-two week low of $199.96 and a fifty-two week high of $296.70. The company has a market capitalization of $9.53 billion, a price-to-earnings ratio of 24.30, a price-to-earnings-growth ratio of 2.45 and a beta of 0.81. The business’s 50 day moving average price is $275.66 and its two-hundred day moving average price is $264.13. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.56 and a current ratio of 3.68.

Applied Industrial Technologies (NYSE:AIT) last released its earnings results on Tuesday, January 27th. The industrial products company reported $2.51 EPS for the quarter, beating analysts’ consensus estimates of $2.48 by $0.03. Applied Industrial Technologies had a return on equity of 21.74% and a net margin of 8.49%.The company had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.17 billion. The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter last year, the business posted $2.39 EPS. Applied Industrial Technologies has set its FY 2026 guidance at 10.450-10.750 EPS. As a group, 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 announced 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. This is a boost from Applied Industrial Technologies’s previous quarterly dividend of $0.46. The ex-dividend date was Friday, February 13th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.8%. Applied Industrial Technologies’s dividend payout ratio (DPR) is presently 19.41%.

Applied Industrial Technologies 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.