Van Hulzen Asset Management LLC Sells 1,048 Shares of Applied Industrial Technologies, Inc. $AIT

Van Hulzen Asset Management LLC trimmed its position in Applied Industrial Technologies, Inc. (NYSE:AIT) by 10.5% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,958 shares of the industrial products company’s stock after selling 1,048 shares during the period. Van Hulzen Asset Management LLC’s holdings in Applied Industrial Technologies were worth $2,082,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Alyeska Investment Group L.P. lifted its stake in shares of Applied Industrial Technologies by 27.9% in the 1st quarter. Alyeska Investment Group L.P. now owns 602,798 shares of the industrial products company’s stock worth $135,835,000 after purchasing an additional 131,465 shares during the period. Boston Trust Walden Corp increased its holdings in Applied Industrial Technologies by 2.0% during the second quarter. Boston Trust Walden Corp now owns 508,120 shares of the industrial products company’s stock valued at $118,113,000 after buying an additional 10,015 shares during the last quarter. Norges Bank bought a new position in Applied Industrial Technologies in the second quarter worth approximately $107,228,000. Alliancebernstein L.P. boosted its stake in shares of Applied Industrial Technologies by 452.6% during the 1st quarter. Alliancebernstein L.P. now owns 436,565 shares of the industrial products company’s stock worth $98,376,000 after acquiring an additional 357,568 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its position 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 during the period. 93.52% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on AIT. Mizuho set a $305.00 target price on Applied Industrial Technologies in a report on Wednesday, October 29th. Industrial Alliance Securities set a $290.00 price objective on Applied Industrial Technologies in a research note on Friday, August 22nd. Bank of America boosted their price objective on Applied Industrial Technologies from $275.00 to $290.00 and gave the company a “buy” rating in a research note on Friday, August 22nd. Oppenheimer raised their target price on shares of Applied Industrial Technologies from $290.00 to $300.00 and gave the stock an “outperform” rating in a research note on Friday, August 15th. Finally, Raymond James Financial downgraded shares of Applied Industrial Technologies from an “outperform” rating to a “market perform” rating in a report on Friday, August 15th. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $287.50.

Applied Industrial Technologies Stock Performance

Shares of NYSE AIT opened at $256.43 on Tuesday. The company has a market cap of $9.67 billion, a P/E ratio of 24.68, a P/E/G ratio of 2.61 and a beta of 0.99. Applied Industrial Technologies, Inc. has a 52-week low of $199.96 and a 52-week high of $280.95. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.36 and a current ratio of 3.55. The firm’s fifty day moving average is $254.51 and its two-hundred day moving average is $251.98.

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

Applied Industrial Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 28th. Investors of record on Friday, November 14th were paid 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 is presently 17.71%.

About Applied Industrial Technologies

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.