32,434 Parker-Hannifin Corporation $PH Shares Sold by Smith Group Asset Management LLC

Key Points

• Smith Group Asset Management reduced its Parker-Hannifin stake by 37.3%, selling 32,434 shares in the third quarter and retaining 54,417 shares valued at approximately $52.0 million.
• Institutional investors own 82.44% of Parker-Hannifin, while an executive separately sold 602 shares worth about $626,000.
• Parker-Hannifin reported quarterly EPS of $9.27, beating estimates by $0.96, and revenue rose 9.8% year over year to $5.75 billion. Analysts maintain a “Moderate Buy” consensus with an average price target of $1,146.35.

Smith Group Asset Management LLC trimmed its position in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 37.3% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 54,417 shares of the industrial products company's stock after selling 32,434 shares during the period. Parker-Hannifin comprises approximately 3.4% of Smith Group Asset Management LLC's holdings, making the stock its 10th largest holding. Smith Group Asset Management LLC's holdings in Parker-Hannifin were worth $51,991,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Proficio Capital Partners LLC raised its holdings in Parker-Hannifin by 234.0% during the 2nd quarter. Proficio Capital Partners LLC now owns 1,954 shares of the industrial products company's stock worth $1,911,000 after purchasing an additional 1,369 shares during the last quarter. BNP Paribas lifted its position in Parker-Hannifin by 4.1% during the 2nd quarter. BNP Paribas now owns 54,208 shares of the industrial products company's stock valued at $52,717,000 after purchasing an additional 2,121 shares during the period. Integrated Wealth Concepts LLC boosted its stake in shares of Parker-Hannifin by 86.1% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 3,503 shares of the industrial products company's stock valued at $3,426,000 after purchasing an additional 1,621 shares during the last quarter. Rakuten Investment Management Inc. bought a new position in shares of Parker-Hannifin in the 2nd quarter valued at about $19,883,000. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in shares of Parker-Hannifin by 6.8% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 46,177 shares of the industrial products company's stock valued at $45,167,000 after purchasing an additional 2,955 shares during the last quarter. 82.44% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Parker-Hannifin

In related news, VP Berend Bracht sold 602 shares of the stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $1,040.47, for a total value of $626,362.94. Following the sale, the vice president directly owned 4,399 shares in the company, valued at $4,577,027.53. This trade represents a 12.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.35% of the stock is owned by corporate insiders.

Parker-Hannifin Trading Up 1.3%

NYSE PH opened at $912.00 on Thursday. Parker-Hannifin Corporation has a 12 month low of $755.10 and a 12 month high of $1,099.94. The stock has a 50-day simple moving average of $960.08 and a 200 day simple moving average of $949.84. The company has a current ratio of 1.26, a quick ratio of 0.74 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $115.01 billion, a PE ratio of 32.01, a P/E/G ratio of 2.45 and a beta of 1.12.

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

Parker-Hannifin Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 4th. Investors of record on Friday, November 13th will be given a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Friday, November 13th. Parker-Hannifin's dividend payout ratio (DPR) is currently 28.08%.

Analyst Ratings Changes

Several brokerages have recently commented on PH. Citigroup lifted their price target on shares of Parker-Hannifin from $1,232.00 to $1,234.00 and gave the stock a "buy" rating in a research report on Monday, October 12th. Stifel Nicolaus set a $1,002.00 price objective on shares of Parker-Hannifin in a report on Monday, October 19th. Mizuho set a $1,200.00 price objective on shares of Parker-Hannifin in a research note on Thursday, October 15th. Jefferies Financial Group raised their price objective on shares of Parker-Hannifin from $1,100.00 to $1,275.00 in a research note on Friday, August 7th. Finally, Wall Street Zen raised shares of Parker-Hannifin from a "hold" rating to a "buy" rating in a report on Saturday, October 24th. Eighteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Parker-Hannifin currently has a consensus rating of "Moderate Buy" and an average price target of $1,146.35.

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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