Sen. Markwayne Mullin Purchases Shares of Applied Industrial Technologies, Inc. (NYSE:AIT)

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 Trading Up 2.5 %

Applied Industrial Technologies stock opened at $250.79 on Friday. The stock has a market cap of $9.62 billion, a PE ratio of 25.41, a P/E/G ratio of 3.14 and a beta of 1.08. The stock has a 50-day moving average price of $253.61 and a 200 day moving average price of $241.31. Applied Industrial Technologies, Inc. has a 52 week low of $177.68 and a 52 week high of $282.98. The company has a current ratio of 3.76, a quick ratio of 2.55 and a debt-to-equity ratio of 0.32.

Applied Industrial Technologies (NYSE:AIT) last posted its quarterly earnings data on Wednesday, January 29th. The industrial products company reported $2.39 EPS for the quarter, topping analysts’ consensus estimates of $2.21 by $0.18. Applied Industrial Technologies had a return on equity of 22.37% and a net margin of 8.62%. Equities research analysts predict that Applied Industrial Technologies, Inc. will post 9.9 earnings per share for the current fiscal year.

Applied Industrial Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date of this dividend was Friday, February 14th. This is a boost from Applied Industrial Technologies’s previous quarterly dividend of $0.37. Applied Industrial Technologies’s dividend payout ratio (DPR) is currently 18.64%.

Analyst Ratings Changes

A number of research firms recently commented on AIT. StockNews.com cut Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, January 23rd. KeyCorp raised their price target on Applied Industrial Technologies from $275.00 to $325.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. Oppenheimer raised their price target on Applied Industrial Technologies from $260.00 to $305.00 and gave the stock an “outperform” rating in a research note on Thursday, November 14th. Raymond James reissued an “outperform” rating and issued a $265.00 price target (up from $250.00) on shares of Applied Industrial Technologies in a research note on Thursday, January 30th. Finally, Bank of America raised Applied Industrial Technologies from a “neutral” rating to a “buy” rating and raised their price target for the stock from $285.00 to $315.00 in a research note on Tuesday, November 26th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $291.43.

Hedge Funds Weigh In On Applied Industrial Technologies

Several hedge funds and other institutional investors have recently modified their holdings of AIT. Norges Bank acquired a new position in shares of Applied Industrial Technologies in the 4th quarter valued at about $129,690,000. Zurich Insurance Group Ltd FI acquired a new position in shares of Applied Industrial Technologies in the 3rd quarter valued at about $84,139,000. Price T Rowe Associates Inc. MD lifted its stake in shares of Applied Industrial Technologies by 199.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 309,617 shares of the industrial products company’s stock valued at $74,145,000 after purchasing an additional 206,220 shares in the last quarter. Westfield Capital Management Co. LP acquired a new position in shares of Applied Industrial Technologies in the 3rd quarter valued at about $32,233,000. Finally, First Trust Advisors LP lifted its stake in shares of Applied Industrial Technologies by 50.0% in the 4th quarter. First Trust Advisors LP now owns 404,784 shares of the industrial products company’s stock valued at $96,934,000 after purchasing an additional 134,975 shares in the last quarter. 93.52% of the stock is owned by institutional investors and hedge funds.

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.