Moran Wealth Management LLC Has $6.99 Million Position in Applied Industrial Technologies, Inc. $AIT

Moran Wealth Management LLC boosted its stake in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 86.5% during the first quarter, HoldingsChannel.com reports. The firm owned 26,333 shares of the industrial products company’s stock after acquiring an additional 12,211 shares during the period. Moran Wealth Management LLC’s holdings in Applied Industrial Technologies were worth $6,987,000 as of its most recent SEC filing.

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

Applied Industrial Technologies Stock Up 0.0%

AIT stock opened at $330.88 on Friday. The firm has a market cap of $12.23 billion, a PE ratio of 31.24, a PEG ratio of 2.86 and a beta of 0.83. Applied Industrial Technologies, Inc. has a 1 year low of $238.34 and a 1 year high of $345.48. The company has a fifty day simple moving average of $316.08 and a 200 day simple moving average of $287.77. The company has a current ratio of 2.95, a quick ratio of 1.97 and a debt-to-equity ratio of 0.19.

Applied Industrial Technologies (NYSE:AIT) last posted its earnings results on Tuesday, April 28th. The industrial products company reported $2.65 EPS for the quarter, topping the consensus estimate 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 period in the prior year, the business posted $2.57 earnings per share. The business’s quarterly revenue was up 7.3% on a year-over-year basis. 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 anticipate that Applied Industrial Technologies, Inc. will post 10.71 EPS for the current fiscal year.

Applied Industrial Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Friday, August 14th will be issued a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.6%. Applied Industrial Technologies’s dividend payout ratio is currently 19.26%.

Wall Street Analyst Weigh In

A number of research analysts have commented on AIT shares. Wall Street Zen downgraded Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Robert W. Baird set a $317.00 price target on Applied Industrial Technologies in a report on Wednesday, April 29th. Weiss Ratings reiterated a “buy (b)” rating on shares of Applied Industrial Technologies in a report on Friday, April 24th. Oppenheimer boosted their price target 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. Finally, DA Davidson started coverage on Applied Industrial Technologies in a report on Tuesday, June 16th. They issued a “buy” rating and a $380.00 price objective on the stock. Six analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $323.14.

Insider Transactions at Applied Industrial Technologies

In other Applied Industrial Technologies news, VP Warren E. Hoffner III sold 8,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $306.04, for a total transaction of $2,448,320.00. Following the completion of the sale, the vice president owned 40,751 shares of the company’s stock, valued at $12,471,436.04. This represents a 16.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Madhuri A. Andrews sold 3,845 shares of the company’s stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $329.89, for a total value of $1,268,427.05. Following the sale, the director directly owned 4,951 shares of the company’s stock, valued at $1,633,285.39. The trade was a 43.71% decrease in their position. The SEC filing for this sale provides additional information. Corporate 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.