Applied Industrial Technologies (NYSE:AIT) Stock Acquired Sen. Markwayne Mullin

Senator Markwayne Mullin (R-Oklahoma) recently bought shares of Applied Industrial Technologies, Inc. NYSE: AIT. In a filing disclosed on February 27th, the Senator disclosed that they had bought between $1,001 and $15,000 in Applied Industrial Technologies stock on February 3rd.

Senator Markwayne Mullin also recently made the following trade(s):

• Purchased $15,001 - $50,000 in shares of Amazon.com NASDAQ: AMZN on 2/13/2025.
• Sold $15,001 - $50,000 in shares of Honeywell International NASDAQ: HON on 2/13/2025.
• Purchased $15,001 - $50,000 in shares of IQVIA NYSE: IQV on 2/13/2025.
• Sold $15,001 - $50,000 in shares of Brick TSE: BRK on 2/13/2025.
• Sold $100,001 - $250,000 in shares of Vanguard Materials ETF NYSEARCA: VAW on 2/13/2025.
• Purchased $50,001 - $100,000 in shares of Microsoft NASDAQ: MSFT on 2/13/2025.
• Sold $15,001 - $50,000 in shares of Constellation Brands NYSE: STZ on 2/13/2025.
• Purchased $50,001 - $100,000 in shares of LPL Financial NASDAQ: LPLA on 2/13/2025.
• Purchased $15,001 - $50,000 in shares of TJX Companies NYSE: TJX on 2/13/2025.
• Sold $50,001 - $100,000 in shares of Advanced Micro Devices NASDAQ: AMD on 2/13/2025.

Applied Industrial Technologies Price Performance

Shares of NYSE:AIT traded down $9.68 during midday trading on Monday, hitting $240.91. The stock had a trading volume of 121,502 shares, compared to its average volume of 298,592. The company has a quick ratio of 2.55, a current ratio of 3.76 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $9.25 billion, a P/E ratio of 24.46, a price-to-earnings-growth ratio of 3.14 and a beta of 1.08. The company's 50-day moving average price is $253.61 and its 200-day moving average price is $241.61. Applied Industrial Technologies, Inc. has a fifty-two week low of $177.68 and a fifty-two week high of $282.98.

Applied Industrial Technologies (NYSE:AIT - Get Free Report) last released its earnings results on Wednesday, January 29th. The industrial products company reported $2.39 earnings per share for the quarter, topping the consensus estimate of $2.21 by $0.18. Applied Industrial Technologies had a return on equity of 22.37% and a net margin of 8.62%. As a group, equities research analysts predict that Applied Industrial Technologies, Inc. will post 9.9 EPS for the current fiscal year.

Applied Industrial Technologies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were issued a $0.46 dividend. This is a positive change from Applied Industrial Technologies's previous quarterly dividend of $0.37. This represents a $1.84 annualized dividend and a yield of 0.76%. The ex-dividend date was Friday, February 14th. Applied Industrial Technologies's dividend payout ratio (DPR) is currently 18.64%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on AIT. Oppenheimer lifted their target price on Applied Industrial Technologies from $260.00 to $305.00 and gave the company an "outperform" rating in a research report on Thursday, November 14th. Raymond James reaffirmed an "outperform" rating and set a $265.00 price target (up from $250.00) on shares of Applied Industrial Technologies in a report on Thursday, January 30th. KeyCorp increased their price objective on shares of Applied Industrial Technologies from $275.00 to $325.00 and gave the company an "overweight" rating in a research note on Tuesday, December 3rd. Robert W. Baird boosted their target price on shares of Applied Industrial Technologies from $250.00 to $275.00 and gave the stock an "outperform" rating in a research note on Thursday, January 30th. Finally, StockNews.com downgraded shares of Applied Industrial Technologies from a "buy" rating to a "hold" rating in a report on Thursday, January 23rd. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $291.43.

Institutional Trading of Applied Industrial Technologies

Institutional investors have recently modified their holdings of the business. Larson Financial Group LLC lifted its holdings in Applied Industrial Technologies by 5,900.0% during the 4th quarter. Larson Financial Group LLC now owns 120 shares of the industrial products company's stock worth $29,000 after buying an additional 118 shares during the period. Kestra Investment Management LLC bought a new position in shares of Applied Industrial Technologies during the fourth quarter worth about $30,000. First Horizon Advisors Inc. lifted its stake in shares of Applied Industrial Technologies by 106.0% in the third quarter. First Horizon Advisors Inc. now owns 171 shares of the industrial products company's stock worth $38,000 after acquiring an additional 88 shares during the period. SBI Securities Co. Ltd. bought a new stake in Applied Industrial Technologies in the fourth quarter valued at approximately $44,000. Finally, Huntington National Bank increased its position in Applied Industrial Technologies by 33.8% during the 4th quarter. Huntington National Bank now owns 186 shares of the industrial products company's stock valued at $45,000 after purchasing an additional 47 shares during the period. Institutional investors own 93.52% of the company's stock.

About Senator Mullin

Markwayne Mullin (Republican Party) is a member of the U.S. Senate from Oklahoma. He assumed office on January 11, 2023. His current term ends on January 3, 2027. Mullin (Republican Party) ran in a special election to the U.S. Senate to represent Oklahoma. He won in the special general election on November 8, 2022. Mullin is a member of the Cherokee Nation and one of four Native American members of the 116th Congress. At the age of 20, Mullin took over his father's plumbing business. He is also a former professional mixed martial artist. Markwayne Mullin graduated from Stilwell High School. Mullin earned an associate degree in construction technology from Oklahoma State University Institute of Technology. His career experience includes owning and founding multiple businesses.

Applied Industrial Technologies Company Profile

Applied Industrial Technologies, Inc distributes industrial motion, power, control, and automation technology solutions in North America, Australia, New Zealand, and Singapore. It operates in two segments, Service Center Based Distribution, and Engineered Solutions. The company distributes bearings, power transmission products, engineered fluid power components and systems, specialty flow control solutions, advanced automation products, industrial rubber products, linear motion components, automation solutions, tools, safety products, oilfield supplies, and other industrial and maintenance supplies; and motors, belting, drives, couplings, pumps, hydraulic and pneumatic components, filtration supplies, valves, fittings, process instrumentation, actuators, and hoses, filtration supplies, as well as other related supplies for general operational needs of customers' machinery and equipment.