2,986 Parker-Hannifin Corporation $PH Shares Sold by Crossmark Global Holdings Inc.

Key Points

• Crossmark Global Holdings reduced its Parker-Hannifin stake by 12% in the third quarter, selling 2,986 shares and retaining 21,822 shares valued at approximately $20.85 million. Institutional investors collectively own 82.44% of the company.
• Wall Street remains broadly positive, with 18 analysts rating the stock Buy and five rating it Hold. Parker-Hannifin has a “Moderate Buy” consensus rating and an average price target of $1,146.35.
• Parker-Hannifin recently exceeded earnings and revenue expectations, reporting $9.27 in quarterly EPS and $5.75 billion in revenue, while declaring a quarterly dividend of $2 per share, or $8 annually.

Crossmark Global Holdings Inc. trimmed its position in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 12.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,822 shares of the industrial products company's stock after selling 2,986 shares during the period. Crossmark Global Holdings Inc.'s holdings in Parker-Hannifin were worth $20,849,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in shares of Parker-Hannifin in the 2nd quarter worth approximately $10,163,362,000. State Street Corp grew its holdings in shares of Parker-Hannifin by 0.5% during the 2nd quarter. State Street Corp now owns 9,385,389 shares of the industrial products company's stock worth $9,180,037,000 after purchasing an additional 42,548 shares in the last quarter. Bank of America Corp DE acquired a new stake in shares of Parker-Hannifin during the 2nd quarter worth approximately $3,273,507,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Parker-Hannifin by 2.5% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,032,942 shares of the industrial products company's stock worth $1,010,341,000 after purchasing an additional 25,167 shares in the last quarter. Finally, Deutsche Bank AG bought a new stake in shares of Parker-Hannifin during the second quarter valued at approximately $987,587,000. 82.44% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Parker-Hannifin news, VP Berend Bracht sold 602 shares of the stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $1,040.47, for a total transaction of $626,362.94. Following the sale, the vice president owned 4,399 shares of the company's stock, valued at $4,577,027.53. This represents a 12.04% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.35% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts recently commented on PH shares. JPMorgan Chase & Co. cut their target price on Parker-Hannifin from $1,140.00 to $1,131.00 and set an "overweight" rating for the company in a research note on Friday, October 9th. Raymond James Financial raised their target price on Parker-Hannifin from $1,050.00 to $1,250.00 and gave the stock an "outperform" rating in a research report on Monday, August 10th. The Goldman Sachs Group lifted their price target on shares of Parker-Hannifin from $1,071.00 to $1,165.00 and gave the stock a "buy" rating in a research note on Friday, August 7th. Jefferies Financial Group lifted their price target on shares of Parker-Hannifin from $1,100.00 to $1,275.00 in a research note on Friday, August 7th. Finally, TD Cowen boosted their price target on shares of Parker-Hannifin from $850.00 to $950.00 and gave the company a "hold" rating in a report on Wednesday, October 14th. Eighteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $1,146.35.

Parker-Hannifin Price Performance

Parker-Hannifin stock opened at $958.04 on Thursday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.74 and a current ratio of 1.26. The firm has a market cap of $120.82 billion, a P/E ratio of 33.63, a P/E/G ratio of 2.63 and a beta of 1.12. The business's fifty day moving average is $973.71 and its two-hundred day moving average is $951.64. Parker-Hannifin Corporation has a 52 week low of $737.70 and a 52 week high of $1,099.94.

Parker-Hannifin (NYSE:PH - Get Free Report) last announced its earnings results on Thursday, August 6th. The industrial products company reported $9.27 EPS for the quarter, topping the consensus estimate of $8.31 by $0.96. Parker-Hannifin had a return on equity of 28.48% and a net margin of 16.97%. The company had revenue of $5.75 billion for the quarter, compared to analysts' expectations of $5.57 billion. During the same quarter in the prior year, the business earned $7.69 earnings per share. The business's revenue for the quarter was up 9.8% on a year-over-year basis. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. Equities research analysts forecast that Parker-Hannifin Corporation will post 35.72 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 11th. Investors of record on Monday, August 31st were given a dividend of $2.00 per share. The ex-dividend date was Monday, August 31st. This represents a $8.00 annualized dividend and a yield of 0.8%. Parker-Hannifin's dividend payout ratio is 28.08%.

Parker-Hannifin Profile

Parker-Hannifin Corporation is a diversified manufacturer of motion and control technologies and systems. The company serves aerospace, industrial, and other specialized markets with products designed to control the movement and flow of liquids and gases, as well as mechanical motion and power.

Its product portfolio includes hydraulic and pneumatic systems, filtration and process-control equipment, electromechanical technologies, sealing and shielding products, connectors, pumps, valves, and related components.

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