Rockefeller Capital Management L.P. Cuts Holdings in Applied Industrial Technologies, Inc. $AIT

Rockefeller Capital Management L.P. reduced its holdings in Applied Industrial Technologies, Inc. (NYSE:AIT) by 10.0% in the 4th quarter, Holdings Channel reports. The institutional investor owned 56,155 shares of the industrial products company’s stock after selling 6,268 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Applied Industrial Technologies were worth $14,419,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Capital International Investors grew its holdings in Applied Industrial Technologies by 25.4% during the fourth quarter. Capital International Investors now owns 962,925 shares of the industrial products company’s stock worth $247,250,000 after acquiring an additional 195,043 shares during the period. First Trust Advisors LP lifted its holdings in Applied Industrial Technologies by 22.7% in the third quarter. First Trust Advisors LP now owns 933,067 shares of the industrial products company’s stock valued at $243,577,000 after acquiring an additional 172,857 shares during the period. Wellington Management Group LLP boosted its position in shares of Applied Industrial Technologies by 0.9% during the 4th quarter. Wellington Management Group LLP now owns 776,394 shares of the industrial products company’s stock worth $199,355,000 after purchasing an additional 6,953 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Applied Industrial Technologies by 0.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 723,700 shares of the industrial products company’s stock worth $185,833,000 after purchasing an additional 3,348 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Applied Industrial Technologies by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 687,161 shares of the industrial products company’s stock worth $176,479,000 after purchasing an additional 1,889 shares during the period. 93.52% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Applied Industrial Technologies

In other Applied Industrial Technologies news, Director Madhuri A. Andrews sold 3,845 shares of Applied Industrial Technologies stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $329.89, for a total transaction of $1,268,427.05. Following the completion of the transaction, the director owned 4,951 shares in the company, valued at approximately $1,633,285.39. The trade was a 43.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Warren E. Hoffner III sold 8,000 shares of the company’s stock in a transaction dated Tuesday, May 5th. The shares were 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 directly owned 40,751 shares in the company, valued at $12,471,436.04. This trade represents a 16.41% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 1.60% of the company’s stock.

Applied Industrial Technologies Stock Down 2.2%

Applied Industrial Technologies stock opened at $330.73 on Wednesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.97 and a current ratio of 2.95. The firm has a market capitalization of $12.22 billion, a price-to-earnings ratio of 31.23, a price-to-earnings-growth ratio of 3.22 and a beta of 0.84. Applied Industrial Technologies, Inc. has a fifty-two week low of $223.13 and a fifty-two week high of $340.37. The stock’s fifty day moving average is $308.92 and its two-hundred day moving average is $283.73.

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 for the quarter, beating analysts’ consensus estimates of $2.63 by $0.02. The business had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.23 billion. Applied Industrial Technologies had a return on equity of 21.64% and a net margin of 8.34%.The business’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter last year, the business posted $2.57 earnings per share. 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. Analysts predict that Applied Industrial Technologies, Inc. will post 10.71 EPS for the current fiscal year.

Applied Industrial Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Friday, August 14th will be issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 0.6%. The ex-dividend date is Friday, August 14th. Applied Industrial Technologies’s dividend payout ratio (DPR) is 19.26%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on AIT. KeyCorp increased their price target on shares of Applied Industrial Technologies from $300.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, February 26th. Wall Street Zen downgraded shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Robert W. Baird set a $317.00 target price on shares of Applied Industrial Technologies in a research report on Wednesday, April 29th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Applied Industrial Technologies in a report on Friday, April 24th. Finally, Oppenheimer increased their target price on shares of Applied Industrial Technologies from $300.00 to $350.00 and gave the company an “outperform” rating in a report on Wednesday, April 29th. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $323.14.

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.