Cornerstone Wealth Group LLC bought a new position in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 492 shares of the industrial products company's stock, valued at approximately $344,000.
Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Parker-Hannifin by 1.6% in the first quarter. Vanguard Group Inc. now owns 11,023,764 shares of the industrial products company's stock valued at $6,700,795,000 after purchasing an additional 168,990 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Parker-Hannifin by 52.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,443,104 shares of the industrial products company's stock valued at $1,485,042,000 after purchasing an additional 842,262 shares during the last quarter. Wellington Management Group LLP increased its stake in Parker-Hannifin by 11.6% in the first quarter. Wellington Management Group LLP now owns 2,009,250 shares of the industrial products company's stock valued at $1,221,323,000 after purchasing an additional 208,573 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Parker-Hannifin by 0.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,594,347 shares of the industrial products company's stock valued at $969,124,000 after purchasing an additional 11,815 shares during the last quarter. Finally, Nuveen LLC purchased a new position in Parker-Hannifin in the first quarter valued at approximately $933,089,000. 82.44% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling
In other Parker-Hannifin news, VP Angela R. Ives sold 810 shares of the firm's stock in a transaction on Friday, August 8th. The stock was sold at an average price of $727.36, for a total value of $589,161.60. Following the completion of the sale, the vice president owned 2,798 shares of the company's stock, valued at approximately $2,035,153.28. This trade represents a 22.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Joseph R. Leonti sold 4,625 shares of the firm's stock in a transaction on Monday, August 25th. The shares were sold at an average price of $750.84, for a total value of $3,472,635.00. Following the completion of the sale, the executive vice president directly owned 13,878 shares of the company's stock, valued at approximately $10,420,157.52. This trade represents a 25.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 14,039 shares of company stock valued at $10,356,566 in the last quarter. Corporate insiders own 0.32% of the company's stock.
Parker-Hannifin Price Performance
Shares of NYSE PH opened at $736.75 on Wednesday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.19 and a quick ratio of 0.71. The stock has a fifty day moving average price of $749.61 and a 200 day moving average price of $687.14. Parker-Hannifin Corporation has a 1-year low of $488.45 and a 1-year high of $779.77. The company has a market cap of $93.23 billion, a PE ratio of 27.17, a P/E/G ratio of 3.02 and a beta of 1.35.
Parker-Hannifin (NYSE:PH - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The industrial products company reported $7.69 earnings per share for the quarter, topping the consensus estimate of $7.08 by $0.61. Parker-Hannifin had a return on equity of 26.80% and a net margin of 17.79%.The firm had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.10 billion. During the same period last year, the company earned $6.77 earnings per share. The company's revenue for the quarter was up 1.1% on a year-over-year basis. Parker-Hannifin has set its FY 2026 guidance at 28.400-29.400 EPS. Sell-side analysts forecast that Parker-Hannifin Corporation will post 26.71 EPS for the current year.
Parker-Hannifin Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Tuesday, September 2nd were issued a dividend of $1.80 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $7.20 annualized dividend and a dividend yield of 1.0%. Parker-Hannifin's dividend payout ratio (DPR) is currently 26.55%.
Analyst Ratings Changes
Several brokerages have commented on PH. Stifel Nicolaus increased their price target on shares of Parker-Hannifin from $717.00 to $726.00 and gave the company a "hold" rating in a research note on Friday, August 8th. Wall Street Zen upgraded shares of Parker-Hannifin from a "hold" rating to a "buy" rating in a research note on Saturday, September 20th. Morgan Stanley raised their target price on shares of Parker-Hannifin from $700.00 to $725.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 9th. Cowen restated a "hold" rating on shares of Parker-Hannifin in a research report on Friday, August 29th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Parker-Hannifin in a research report on Wednesday, October 8th. Fourteen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $787.61.
View Our Latest Stock Analysis on PH
Parker-Hannifin Company Profile
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Free Report)
Parker-Hannifin Corporation manufactures and sells motion and control technologies and systems for various mobile, industrial, and aerospace markets worldwide. The company operates through two segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial segment offers sealing, shielding, thermal products and systems, adhesives, coatings, and noise vibration and harshness solutions; filters, systems, and diagnostics solutions to ensure purity and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors used in fluid and gas handling; and hydraulic, pneumatic, and electromechanical components and systems for builders and users of mobile and industrial machinery and equipment.
See Also
Want to see what other hedge funds are holding PH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Parker-Hannifin Corporation (NYSE:PH - Free Report).
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