Regents Gate Capital LLP Sells 19,520 Shares of Applied Industrial Technologies, Inc. $AIT

Regents Gate Capital LLP cut its position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 62.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,633 shares of the industrial products company’s stock after selling 19,520 shares during the period. Applied Industrial Technologies makes up about 1.0% of Regents Gate Capital LLP’s portfolio, making the stock its 27th biggest holding. Regents Gate Capital LLP’s holdings in Applied Industrial Technologies were worth $2,987,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AIT. Capital International Investors bought a new position in Applied Industrial Technologies during the third quarter valued at approximately $200,456,000. Norges Bank bought a new position in Applied Industrial Technologies during the fourth quarter valued at approximately $125,044,000. M&T Bank Corp raised its position in Applied Industrial Technologies by 33,181.4% during the fourth quarter. M&T Bank Corp now owns 300,864 shares of the industrial products company’s stock valued at $81,322,000 after purchasing an additional 299,960 shares during the period. Thrivent Financial for Lutherans raised its position in Applied Industrial Technologies by 1,628.7% during the fourth quarter. Thrivent Financial for Lutherans now owns 196,946 shares of the industrial products company’s stock valued at $50,570,000 after purchasing an additional 185,553 shares during the period. Finally, First Trust Advisors LP raised its position in Applied Industrial Technologies by 22.7% during 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 purchasing an additional 172,857 shares during the period. 93.52% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

AIT has been the topic of a number of recent research reports. KeyCorp upped their price objective on Applied Industrial Technologies from $300.00 to $330.00 and gave the company an “overweight” rating in a research report on Thursday, February 26th. Weiss Ratings restated a “buy (b)” rating on shares of Applied Industrial Technologies in a research report on Friday, April 24th. Oppenheimer upped their price objective on Applied Industrial Technologies from $300.00 to $350.00 and gave the company an “outperform” rating in a research report on Wednesday, April 29th. Robert W. Baird set a $317.00 price objective on Applied Industrial Technologies in a research report on Wednesday, April 29th. Finally, Wall Street Zen downgraded Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Five equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, Applied Industrial Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $313.67.

Insider Buying and Selling

In other Applied Industrial Technologies news, VP Warren E. Hoffner III sold 8,000 shares of the firm’s stock in a transaction 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 transaction, 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.60% of the stock is owned by insiders.

Applied Industrial Technologies Trading Up 1.6%

Shares of NYSE AIT opened at $319.17 on Friday. 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 business’s 50 day moving average price is $300.24 and its 200-day moving average price is $279.62. Applied Industrial Technologies, Inc. has a fifty-two week low of $223.13 and a fifty-two week high of $326.41. The company has a market cap of $11.80 billion, a price-to-earnings ratio of 30.14, a PEG ratio of 2.99 and a beta of 0.84.

Applied Industrial Technologies (NYSE:AIT) last issued its quarterly earnings results on Tuesday, April 28th. The industrial products company reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.63 by $0.02. Applied Industrial Technologies had a return on equity of 21.64% and a net margin of 8.34%.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 company’s revenue for the quarter 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. On average, sell-side analysts expect that Applied Industrial Technologies, Inc. will post 10.7 earnings per share for the current year.

Applied Industrial Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were 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 was Friday, May 15th. Applied Industrial Technologies’s dividend payout ratio (DPR) is presently 19.26%.

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.