Applied Industrial Technologies, Inc. $AIT Stock Holdings Lowered by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. trimmed its holdings in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 71.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,342 shares of the industrial products company’s stock after selling 10,948 shares during the period. Harbor Capital Advisors Inc.’s holdings in Applied Industrial Technologies were worth $1,133,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Rise Advisors LLC lifted its position in shares of Applied Industrial Technologies by 111.1% during the 1st quarter. Rise Advisors LLC now owns 133 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 70 shares during the last quarter. Hantz Financial Services Inc. lifted its holdings in shares of Applied Industrial Technologies by 2,033.3% during the second quarter. Hantz Financial Services Inc. now owns 128 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 122 shares during the last quarter. Maseco LLP acquired a new position in shares of Applied Industrial Technologies in the 2nd quarter valued at $35,000. Headlands Technologies LLC purchased a new position in Applied Industrial Technologies in the 2nd quarter worth about $72,000. Finally, Harbor Investment Advisory LLC raised its holdings in Applied Industrial Technologies by 100.6% during the 2nd quarter. Harbor Investment Advisory LLC now owns 321 shares of the industrial products company’s stock worth $75,000 after buying an additional 161 shares during the period. Institutional investors and hedge funds own 93.52% of the company’s stock.

Applied Industrial Technologies Stock Performance

AIT stock opened at $264.81 on Friday. The firm has a 50 day simple moving average of $256.71 and a 200 day simple moving average of $255.95. Applied Industrial Technologies, Inc. has a 52 week low of $199.96 and a 52 week high of $280.95. The stock has a market cap of $9.99 billion, a P/E ratio of 25.49, a P/E/G ratio of 2.70 and a beta of 0.85. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.50 and a current ratio of 3.55.

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

Applied Industrial Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Investors of record on Friday, November 14th were given a dividend of $0.46 per share. The ex-dividend date of this dividend was Friday, November 14th. This represents a $1.84 dividend on an annualized basis and a yield of 0.7%. Applied Industrial Technologies’s dividend payout ratio (DPR) is presently 17.71%.

Analyst Ratings Changes

A number of analysts have commented on the stock. Mizuho set a $305.00 price objective on shares of Applied Industrial Technologies in a research note on Wednesday, October 29th. Weiss Ratings restated a “buy (b)” rating on shares of Applied Industrial Technologies in a research report on Monday. Six investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $287.50.

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.