Octavia Wealth Advisors LLC Buys New Stake in Applied Industrial Technologies, Inc. $AIT

Octavia Wealth Advisors LLC purchased a new stake in Applied Industrial Technologies, Inc. (NYSE:AIT) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor purchased 2,062 shares of the industrial products company’s stock, valued at approximately $538,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Hantz Financial Services Inc. boosted its holdings in Applied Industrial Technologies by 2,033.3% in the 2nd quarter. Hantz Financial Services Inc. now owns 128 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 122 shares during the period. Maseco LLP purchased a new position in shares of Applied Industrial Technologies in the second quarter valued at $35,000. First Horizon Corp purchased a new position in shares of Applied Industrial Technologies in the third quarter valued at $47,000. Headlands Technologies LLC acquired a new stake in Applied Industrial Technologies during the 2nd quarter valued at $72,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in Applied Industrial Technologies during the 2nd quarter worth $81,000. Hedge funds and other institutional investors own 93.52% of the company’s stock.

Applied Industrial Technologies Price Performance

NYSE AIT opened at $277.53 on Thursday. The company has a current ratio of 3.55, a quick ratio of 2.50 and a debt-to-equity ratio of 0.30. Applied Industrial Technologies, Inc. has a 1 year low of $199.96 and a 1 year high of $281.63. The company has a market cap of $10.47 billion, a PE ratio of 26.71, a PEG ratio of 2.85 and a beta of 0.87. The stock’s 50-day moving average price is $259.01 and its two-hundred day moving average price is $259.44.

Applied Industrial Technologies (NYSE:AIT) last posted its quarterly earnings data on Tuesday, October 28th. The industrial products company reported $2.63 earnings per share for the quarter, topping the consensus estimate of $2.47 by $0.16. The firm had revenue of $1.20 billion for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 9.2% compared to the same quarter last year. During the same period in the previous year, the company posted $2.36 EPS. Applied Industrial Technologies has set its FY 2026 guidance at 10.100-10.850 EPS. On average, analysts predict that Applied Industrial Technologies, Inc. will post 9.9 EPS for the current year.

Applied Industrial Technologies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 28th. Investors of record on Friday, November 14th were paid a $0.46 dividend. The ex-dividend date of this dividend was Friday, November 14th. This represents a $1.84 annualized dividend and a yield of 0.7%. Applied Industrial Technologies’s payout ratio is currently 17.71%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on AIT shares. Mizuho set a $305.00 price objective on shares of Applied Industrial Technologies in a research report on Wednesday, October 29th. Weiss Ratings reiterated a “buy (b)” rating on shares of Applied Industrial Technologies in a research note on Monday, December 29th. Six research 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 an average rating of “Moderate Buy” and an average price target of $287.50.

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.