WINTON GROUP Ltd Invests $5.29 Million in Applied Industrial Technologies, Inc. $AIT

WINTON GROUP Ltd bought a new stake in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 15,632 shares of the industrial products company’s stock, valued at approximately $5,286,000.

Other institutional investors also recently added to or reduced their stakes in the company. Anchor Investment Management LLC acquired a new stake in shares of Applied Industrial Technologies in the fourth quarter worth $32,000. Global Retirement Partners LLC acquired a new position in Applied Industrial Technologies during the 2nd quarter valued at $37,000. Kilter Group LLC bought a new stake in Applied Industrial Technologies in the 2nd quarter valued at $40,000. Smartleaf Asset Management LLC boosted its holdings in Applied Industrial Technologies by 78.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 177 shares of the industrial products company’s stock valued at $46,000 after purchasing an additional 78 shares during the period. Finally, Los Angeles Capital Management LLC acquired a new stake in Applied Industrial Technologies in the 4th quarter worth $46,000. 93.52% of the stock is owned by institutional investors.

Applied Industrial Technologies Stock Performance

NYSE:AIT opened at $318.54 on Friday. The firm has a market capitalization of $11.69 billion, a PE ratio of 29.06, a price-to-earnings-growth ratio of 2.61 and a beta of 0.83. The company has a quick ratio of 1.75, a current ratio of 2.58 and a debt-to-equity ratio of 0.14. Applied Industrial Technologies, Inc. has a 12-month low of $238.34 and a 12-month high of $374.80. The firm has a 50-day moving average price of $338.33 and a 200 day moving average price of $310.91.

Applied Industrial Technologies (NYSE:AIT) last released its quarterly earnings data on Thursday, August 13th. The industrial products company reported $3.17 earnings per share for the quarter, beating analysts’ consensus estimates of $2.92 by $0.25. Applied Industrial Technologies had a return on equity of 22.17% and a net margin of 8.35%.The company had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same period in the previous year, the business earned $2.80 earnings per share. The company’s quarterly revenue was up 10.5% on a year-over-year basis. Applied Industrial Technologies has set its FY 2027 guidance at 11.650-12.150 EPS. Research analysts anticipate that Applied Industrial Technologies, Inc. will post 11.96 earnings per share for the current fiscal year.

Applied Industrial Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Friday, August 14th were given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Friday, August 14th. Applied Industrial Technologies’s dividend payout ratio (DPR) is 18.61%.

Insider Activity at Applied Industrial Technologies

In other Applied Industrial Technologies news, CFO David K. Wells sold 1,812 shares of the stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $355.10, for a total transaction of $643,441.20. Following the completion of the transaction, the chief financial officer directly owned 32,050 shares in the company, valued at $11,380,955. This represents a 5.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Madhuri A. Andrews sold 3,845 shares of Applied Industrial Technologies stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $329.89, for a total value of $1,268,427.05. Following the transaction, the director directly owned 4,951 shares of the company’s stock, valued at approximately $1,633,285.39. The trade was a 43.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 7,561 shares of company stock valued at $2,560,085 in the last 90 days. 1.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on AIT. Wall Street Zen upgraded Applied Industrial Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. Weiss Ratings reissued a “buy (b)” rating on shares of Applied Industrial Technologies in a report on Tuesday, July 21st. DA Davidson boosted their price objective on Applied Industrial Technologies from $380.00 to $400.00 and gave the company a “buy” rating in a research report on Friday, August 14th. Bank of America boosted their price objective on Applied Industrial Technologies from $380.00 to $390.00 and gave the company a “buy” rating in a research report on Friday, August 14th. Finally, KeyCorp raised their target price on Applied Industrial Technologies from $375.00 to $420.00 and gave the stock an “overweight” rating in a research report on Friday, August 14th. Seven equities research analysts have rated the stock with a Buy rating, According to MarketBeat, Applied Industrial Technologies presently has an average rating of “Buy” and an average price target of $400.00.

Applied Industrial Technologies Company Profile

Applied Industrial Technologies, Inc (NYSE: AIT) is a distributor and value-added service provider for industrial and maintenance, repair and operations (MRO) markets. The company supplies products used to keep manufacturing, processing, infrastructure and other industrial operations running, including bearings, power-transmission components, industrial motion products, fluid power equipment, hose and fittings, industrial rubber products, safety supplies and automation components.

In addition to product distribution, Applied Industrial Technologies provides engineering, design, fabrication, repair, assembly, technical support and other application-focused services.