Bessemer Group Inc. Has $33.08 Million Stock Holdings in Applied Industrial Technologies, Inc. $AIT

Bessemer Group Inc. decreased its position in Applied Industrial Technologies, Inc. (NYSE:AIT) by 21.5% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 126,726 shares of the industrial products company’s stock after selling 34,643 shares during the period. Bessemer Group Inc. owned about 0.34% of Applied Industrial Technologies worth $33,081,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Wolverine Asset Management LLC acquired a new stake in shares of Applied Industrial Technologies in the 3rd quarter valued at approximately $1,044,000. Envestnet Asset Management Inc. increased its holdings in Applied Industrial Technologies by 38.6% during the second quarter. Envestnet Asset Management Inc. now owns 73,784 shares of the industrial products company’s stock worth $17,151,000 after buying an additional 20,535 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its position in Applied Industrial Technologies by 27.3% during the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 46,126 shares of the industrial products company’s stock worth $12,041,000 after acquiring an additional 9,898 shares in the last quarter. Regents Gate Capital LLP acquired a new stake in Applied Industrial Technologies in the second quarter valued at $11,387,000. Finally, TimesSquare Capital Management LLC lifted its stake in Applied Industrial Technologies by 10.5% in the second quarter. TimesSquare Capital Management LLC now owns 86,434 shares of the industrial products company’s stock valued at $20,092,000 after acquiring an additional 8,219 shares during the last quarter. 93.52% of the stock is owned by institutional investors.

Applied Industrial Technologies Trading Down 1.1%

Shares of AIT stock opened at $286.78 on Friday. Applied Industrial Technologies, Inc. has a 12-month low of $199.96 and a 12-month high of $290.25. The company has a market capitalization of $10.70 billion, a PE ratio of 27.29, a price-to-earnings-growth ratio of 2.95 and a beta of 0.84. The firm has a 50 day moving average price of $266.63 and a two-hundred day moving average price of $262.19. The company has a quick ratio of 2.56, a current ratio of 3.68 and a debt-to-equity ratio of 0.31.

Applied Industrial Technologies (NYSE:AIT) last announced its earnings results on Tuesday, January 27th. The industrial products company reported $2.51 earnings per share for the quarter, topping analysts’ consensus estimates of $2.48 by $0.03. The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.17 billion. Applied Industrial Technologies had a return on equity of 21.74% and a net margin of 8.49%.The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter last year, the company earned $2.39 earnings per share. Applied Industrial Technologies has set its FY 2026 guidance at 10.450-10.750 EPS. As a group, analysts predict that Applied Industrial Technologies, Inc. will post 9.9 earnings per share for the current year.

Applied Industrial Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 13th will be given a $0.51 dividend. The ex-dividend date of this dividend is Friday, February 13th. This is a boost from Applied Industrial Technologies’s previous quarterly dividend of $0.46. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.7%. Applied Industrial Technologies’s dividend payout ratio (DPR) is presently 17.51%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Wall Street Zen lowered shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Mizuho set a $305.00 price target on Applied Industrial Technologies in a report on Wednesday, October 29th. KeyCorp dropped their price objective on Applied Industrial Technologies from $310.00 to $300.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 28th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Applied Industrial Technologies in a research report on Monday, December 29th. Six analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $290.63.

Applied Industrial Technologies Company 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.