Concurrent Investment Advisors LLC Grows Stock Holdings in Applied Industrial Technologies, Inc. $AIT

Concurrent Investment Advisors LLC lifted its stake in Applied Industrial Technologies, Inc. (NYSE:AIT) by 126.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 3,724 shares of the industrial products company’s stock after purchasing an additional 2,076 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Applied Industrial Technologies were worth $956,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AIT. Goldman Sachs Group Inc. boosted its holdings in Applied Industrial Technologies by 4.1% in the first quarter. Goldman Sachs Group Inc. now owns 381,187 shares of the industrial products company’s stock worth $85,897,000 after acquiring an additional 14,926 shares in the last quarter. Empowered Funds LLC bought a new position in shares of Applied Industrial Technologies during the first quarter valued at $318,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Applied Industrial Technologies by 12.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 98,348 shares of the industrial products company’s stock worth $22,162,000 after purchasing an additional 10,863 shares during the last quarter. Focus Partners Wealth raised its position in shares of Applied Industrial Technologies by 4.5% in the 1st quarter. Focus Partners Wealth now owns 1,341 shares of the industrial products company’s stock worth $302,000 after purchasing an additional 58 shares during the last quarter. Finally, M&T Bank Corp bought a new position in Applied Industrial Technologies in the 2nd quarter worth about $217,000. Institutional investors own 93.52% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Applied Industrial Technologies in a research note on Friday, April 24th. KeyCorp upped their target price on shares of Applied Industrial Technologies from $300.00 to $330.00 and gave the stock an “overweight” rating in a research note on Thursday, February 26th. Wall Street Zen cut shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a report on Saturday. Oppenheimer boosted their price objective on shares of Applied Industrial Technologies from $300.00 to $350.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, Robert W. Baird set a $317.00 price objective on Applied Industrial Technologies in a research report on Wednesday. Five research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $313.67.

Applied Industrial Technologies Price Performance

Shares of NYSE:AIT opened at $302.85 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.56 and a current ratio of 2.95. The firm has a market cap of $11.19 billion, a price-to-earnings ratio of 28.60, a price-to-earnings-growth ratio of 2.91 and a beta of 0.86. The business has a 50-day simple moving average of $276.67 and a two-hundred day simple moving average of $268.04. Applied Industrial Technologies, Inc. has a fifty-two week low of $213.78 and a fifty-two week high of $309.67.

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

Applied Industrial Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Shareholders of record on Friday, May 15th will be given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Friday, May 15th. Applied Industrial Technologies’s payout ratio is 19.26%.

Insiders Place Their Bets

In other news, VP Warren E. Hoffner III sold 4,000 shares of the firm’s stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $288.62, for a total value of $1,154,480.00. Following the transaction, the vice president directly owned 52,751 shares in the company, valued at $15,224,993.62. This trade represents a 7.05% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Jason W. Vasquez sold 5,447 shares of Applied Industrial Technologies stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $287.87, for a total value of $1,568,027.89. Following the completion of the sale, the vice president directly owned 14,491 shares of the company’s stock, valued at $4,171,524.17. The trade was a 27.32% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 28,654 shares of company stock valued at $8,212,829. Company insiders own 1.60% of the company’s stock.

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.