Royal London Asset Management Ltd. Sells 74,733 Shares of Applied Industrial Technologies, Inc. $AIT

Royal London Asset Management Ltd. cut its stake in Applied Industrial Technologies, Inc. (NYSE:AIT) by 17.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 353,093 shares of the industrial products company’s stock after selling 74,733 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Applied Industrial Technologies were worth $90,664,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Torren Management LLC bought a new stake in shares of Applied Industrial Technologies during the fourth quarter worth $25,000. Smartleaf Asset Management LLC lifted its position in shares of Applied Industrial Technologies by 890.0% during the third quarter. Smartleaf Asset Management LLC now owns 99 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 89 shares during the last quarter. Abich Financial Wealth Management LLC bought a new stake in shares of Applied Industrial Technologies during the third quarter worth $29,000. V Square Quantitative Management LLC bought a new stake in shares of Applied Industrial Technologies during the fourth quarter worth $34,000. Finally, Allworth Financial LP lifted its position in shares of Applied Industrial Technologies by 446.4% during the third quarter. Allworth Financial LP now owns 153 shares of the industrial products company’s stock worth $40,000 after purchasing an additional 125 shares during the last quarter. 93.52% of the stock is currently owned by institutional investors.

Insider Transactions at Applied Industrial Technologies

In other Applied Industrial Technologies news, VP Warren E. Hoffner III sold 8,000 shares of Applied Industrial Technologies stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $306.04, for a total value of $2,448,320.00. Following the transaction, the vice president owned 40,751 shares in the company, valued at $12,471,436.04. The trade was a 16.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.60% of the stock is owned by company insiders.

Applied Industrial Technologies Stock Performance

Shares of Applied Industrial Technologies stock opened at $319.51 on Friday. The firm has a market cap of $11.81 billion, a P/E ratio of 30.17, a P/E/G ratio of 3.04 and a beta of 0.84. The company has a current ratio of 2.95, a quick ratio of 1.97 and a debt-to-equity ratio of 0.19. Applied Industrial Technologies, Inc. has a 12 month low of $223.13 and a 12 month high of $326.41. The stock’s fifty day moving average price is $301.24 and its 200-day moving average price is $279.90.

Applied Industrial Technologies (NYSE:AIT) last posted its earnings results on Tuesday, April 28th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same quarter in the previous year, the firm earned $2.57 earnings per share. The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. 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, equities research analysts expect that Applied Industrial Technologies, Inc. will post 10.7 earnings per share for the current fiscal year.

Applied Industrial Technologies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were paid a $0.51 dividend. 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 payout ratio is 19.26%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on AIT. Robert W. Baird set a $317.00 target price on Applied Industrial Technologies in a research report on Wednesday, April 29th. Oppenheimer raised their price target on Applied Industrial Technologies from $300.00 to $350.00 and gave the company an “outperform” rating in a research note on Wednesday, April 29th. Wall Street Zen lowered Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. KeyCorp raised their price target on Applied Industrial Technologies from $300.00 to $330.00 and gave the company an “overweight” rating in a research note on Thursday, February 26th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Applied Industrial Technologies in a research note on Friday, April 24th. Five investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Applied Industrial Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $313.67.

About Applied Industrial Technologies

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.