BlackRock Amends AIT Holdings: Now Owns 10.3% of Common Stock
Ticker: AIT · Form: SC 13G/A · Filed: Jan 22, 2024 · CIK: 109563
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, amendment, passive-investment
TL;DR
**BlackRock still owns 10.3% of APPLIED INDUSTRIAL TECHNOLOGIES, a slight change from prior.**
AI Summary
BlackRock Inc. filed an amended SC 13G/A on January 22, 2024, indicating a change in its ownership of Common Stock in APPLIED INDUSTRIAL TECHNOLOGIES INC. As of December 31, 2023, BlackRock reported beneficial ownership of 4,007,819 shares, representing 10.3% of the company's outstanding shares. This is an amendment to their previous filing, showing a slight decrease from their prior reported stake, which matters to investors as BlackRock is a major institutional investor and changes in their holdings can signal shifts in their confidence in the stock.
Why It Matters
This filing shows BlackRock, a major institutional investor, still holds a significant stake in APPLIED INDUSTRIAL TECHNOLOGIES INC, signaling continued confidence, though their percentage ownership has slightly adjusted.
Risk Assessment
Risk Level: low — This filing indicates a routine update from a large institutional investor and does not suggest any immediate high-risk events for the company.
Analyst Insight
A smart investor would note BlackRock's continued significant, though slightly adjusted, stake as a sign of ongoing institutional interest, but would not make investment decisions based solely on this routine amendment. Further research into APPLIED INDUSTRIAL TECHNOLOGIES INC's fundamentals and BlackRock's broader investment strategy would be prudent.
Key Numbers
- 4,007,819 — Shares Beneficially Owned (Represents BlackRock's total stake in APPLIED INDUSTRIAL TECHNOLOGIES INC as of December 31, 2023.)
- 10.3% — Percentage of Class (Indicates BlackRock's significant ownership percentage of the Common Stock.)
- December 31, 2023 — Reporting Date (The specific date for which the ownership data is reported, providing a clear snapshot.)
- January 22, 2024 — Filing Date (The date the amended filing was submitted to the SEC.)
Key Players & Entities
- BlackRock Inc. (company) — the institutional investor filing the SC 13G/A
- APPLIED INDUSTRIAL TECHNOLOGIES INC (company) — the subject company whose shares are being reported
- 4,007,819 shares (dollar_amount) — the total number of shares beneficially owned by BlackRock Inc. as of December 31, 2023
- 10.3% (dollar_amount) — the percentage of APPLIED INDUSTRIAL TECHNOLOGIES INC's Common Stock beneficially owned by BlackRock Inc.
- December 31, 2023 (date) — the date of the event which required the filing of this statement
Forward-Looking Statements
- BlackRock will maintain a significant, albeit potentially fluctuating, stake in APPLIED INDUSTRIAL TECHNOLOGIES INC. (BlackRock Inc.) — medium confidence, target: December 31, 2024
- The stock price of APPLIED INDUSTRIAL TECHNOLOGIES INC will not experience significant volatility solely due to this routine filing. (APPLIED INDUSTRIAL TECHNOLOGIES INC) — high confidence, target: February 22, 2024
FAQ
What is the purpose of this SC 13G/A filing by BlackRock Inc.?
This SC 13G/A filing is an amendment (Amendment No: 4) to report a change in BlackRock Inc.'s beneficial ownership of Common Stock in APPLIED INDUSTRIAL TECHNOLOGIES INC, as required by the Securities Exchange Act of 1934 under Rule 13d-1(b).
How many shares of APPLIED INDUSTRIAL TECHNOLOGIES INC Common Stock does BlackRock Inc. beneficially own as of the reporting date?
As of December 31, 2023, BlackRock Inc. beneficially owns 4,007,819 shares of APPLIED INDUSTRIAL TECHNOLOGIES INC Common Stock.
What percentage of APPLIED INDUSTRIAL TECHNOLOGIES INC's Common Stock does BlackRock Inc.'s ownership represent?
BlackRock Inc.'s beneficial ownership of 4,007,819 shares represents 10.3% of the Common Stock of APPLIED INDUSTRIAL TECHNOLOGIES INC.
When was the event that triggered this filing, and when was the filing submitted?
The 'Date of Event Which Requires Filing of this Statement' was December 31, 2023, and the filing was submitted to the SEC on January 22, 2024.
What is the CUSIP number for the Common Stock of APPLIED INDUSTRIAL TECHNOLOGIES INC?
The CUSIP number for the Common Stock of APPLIED INDUSTRIAL TECHNOLOGIES INC is 03820C105.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on January 22, 2024 regarding APPLIED INDUSTRIAL TECHNOLOGIES INC (AIT).