Applied Industrial Technologies, Inc. $AIT Shares Sold by Homestead Advisers Corp

Homestead Advisers Corp lowered its position in Applied Industrial Technologies, Inc. (NYSE:AIT) by 10.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,526 shares of the industrial products company’s stock after selling 3,600 shares during the quarter. Homestead Advisers Corp owned 0.09% of Applied Industrial Technologies worth $7,561,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC grew its holdings in Applied Industrial Technologies by 17.7% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 1,501 shares of the industrial products company’s stock worth $338,000 after acquiring an additional 226 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in shares of Applied Industrial Technologies by 7.3% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 3,103 shares of the industrial products company’s stock worth $699,000 after purchasing an additional 210 shares during the last quarter. First Horizon Advisors Inc. grew its stake in Applied Industrial Technologies by 31.1% in the first quarter. First Horizon Advisors Inc. now owns 215 shares of the industrial products company’s stock worth $48,000 after purchasing an additional 51 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Applied Industrial Technologies by 1.2% in the first quarter. Principal Financial Group Inc. now owns 144,414 shares of the industrial products company’s stock valued at $32,542,000 after buying an additional 1,656 shares during the last quarter. Finally, OneDigital Investment Advisors LLC bought a new stake in Applied Industrial Technologies in the first quarter valued at about $256,000. 93.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Applied Industrial Technologies news, CEO Neil A. Schrimsher sold 26,671 shares of Applied Industrial Technologies stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $262.46, for a total transaction of $7,000,070.66. Following the sale, the chief executive officer owned 149,735 shares of the company’s stock, valued at $39,299,448.10. The trade was a 15.12% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Jason W. Vasquez sold 7,466 shares of the business’s stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $260.08, for a total value of $1,941,757.28. Following the transaction, the vice president owned 14,491 shares of the company’s stock, valued at $3,768,819.28. This trade represents a 34.00% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 42,660 shares of company stock valued at $11,217,980. Insiders own 1.60% of the company’s stock.

Applied Industrial Technologies Price Performance

Shares of NYSE AIT opened at $256.41 on Wednesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.55 and a quick ratio of 2.36. The firm has a market capitalization of $9.67 billion, a PE ratio of 24.68, a P/E/G ratio of 2.61 and a beta of 0.99. Applied Industrial Technologies, Inc. has a 1-year low of $199.96 and a 1-year high of $282.98. The business’s fifty day moving average price is $258.78 and its two-hundred day moving average price is $248.84.

Applied Industrial Technologies (NYSE:AIT) last released its quarterly earnings results on Tuesday, October 28th. The industrial products company reported $2.63 EPS for the quarter, topping the consensus estimate of $2.47 by $0.16. Applied Industrial Technologies had a net margin of 8.61% and a return on equity of 21.86%. The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the prior year, the firm earned $2.36 earnings per share. The company’s quarterly revenue was up 9.2% on a year-over-year basis. Applied Industrial Technologies has set its FY 2026 guidance at 10.100-10.850 EPS. On average, research analysts expect that Applied Industrial Technologies, Inc. will post 9.9 EPS for the current year.

Applied Industrial Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be paid a $0.46 dividend. The ex-dividend date is Friday, November 14th. This represents a $1.84 annualized dividend and a dividend yield of 0.7%. Applied Industrial Technologies’s dividend payout ratio (DPR) is presently 17.71%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Wall Street Zen upgraded Applied Industrial Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, July 26th. Raymond James Financial cut Applied Industrial Technologies from an “outperform” rating to a “market perform” rating in a research note on Friday, August 15th. Weiss Ratings reiterated a “buy (b)” rating on shares of Applied Industrial Technologies in a research note on Wednesday, October 8th. Industrial Alliance Securities set a $290.00 target price on shares of Applied Industrial Technologies in a report on Friday, August 22nd. Finally, Robert W. Baird lifted their price target on shares of Applied Industrial Technologies from $265.00 to $300.00 and gave the company an “outperform” rating in a report on Friday, August 15th. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $287.50.

Applied Industrial Technologies Profile

Applied Industrial Technologies, Inc distributes industrial motion, power, control, and automation technology solutions in North America, Australia, New Zealand, and Singapore. It operates in two segments, Service Center Based Distribution, and Engineered Solutions. The company distributes bearings, power transmission products, engineered fluid power components and systems, specialty flow control solutions, advanced automation products, industrial rubber products, linear motion components, automation solutions, tools, safety products, oilfield supplies, and other industrial and maintenance supplies; and motors, belting, drives, couplings, pumps, hydraulic and pneumatic components, filtration supplies, valves, fittings, process instrumentation, actuators, and hoses, filtration supplies, as well as other related supplies for general operational needs of customers' machinery and equipment.