Norges Bank Makes New Investment in Applied Industrial Technologies, Inc. $AIT

Norges Bank purchased a new position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 486,990 shares of the industrial products company’s stock, valued at approximately $125,044,000.

Other large investors also recently made changes to their positions in the company. Torren Management LLC bought a new stake in Applied Industrial Technologies in the 4th quarter worth about $25,000. Smartleaf Asset Management LLC lifted its position 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 buying an additional 89 shares in the last quarter. Abich Financial Wealth Management LLC purchased a new position in shares of Applied Industrial Technologies in the 3rd quarter worth approximately $29,000. V Square Quantitative Management LLC bought a new position in shares of Applied Industrial Technologies in the fourth quarter valued at approximately $34,000. Finally, Allworth Financial LP grew its holdings in shares of Applied Industrial Technologies by 446.4% in the third quarter. Allworth Financial LP now owns 153 shares of the industrial products company’s stock valued at $40,000 after acquiring an additional 125 shares in the last quarter. 93.52% of the stock is owned by institutional investors.

Analyst Ratings Changes

AIT has been the topic of a number of recent analyst reports. Robert W. Baird set a $317.00 price target on Applied Industrial Technologies in a report on Wednesday, April 29th. Oppenheimer upped their price objective on Applied Industrial Technologies from $300.00 to $350.00 and gave the company an “outperform” rating in a research note on Wednesday, April 29th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Applied Industrial Technologies in a research report on Friday, April 24th. Wall Street Zen downgraded shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Finally, KeyCorp increased their price target 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, February 26th. Five investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $313.67.

Applied Industrial Technologies Price Performance

Applied Industrial Technologies stock opened at $314.10 on Friday. Applied Industrial Technologies, Inc. has a 12 month low of $223.13 and a 12 month high of $317.10. 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 business’s 50 day simple moving average is $294.70 and its 200 day simple moving average is $277.03. The company has a market cap of $11.61 billion, a price-to-earnings ratio of 29.66, a PEG ratio of 2.99 and a beta of 0.84.

Applied Industrial Technologies (NYSE:AIT) last released its earnings results on Tuesday, April 28th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.63 by $0.02. The business had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.23 billion. Applied Industrial Technologies had a return on equity of 21.64% and a net margin of 8.34%.The business’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period last year, the business posted $2.57 earnings per share. 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. Sell-side analysts forecast that Applied Industrial Technologies, Inc. will post 10.7 EPS for the current year.

Applied Industrial Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were issued a $0.51 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $2.04 annualized dividend and a yield of 0.6%. Applied Industrial Technologies’s dividend payout ratio (DPR) is 19.26%.

Insiders Place Their Bets

In related news, VP Warren E. Hoffner III sold 8,000 shares of the business’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $306.04, for a total value of $2,448,320.00. Following the sale, the vice president directly owned 40,751 shares in the company, valued at approximately $12,471,436.04. The trade was a 16.41% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.60% of the company’s stock.

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.