Advisors Asset Management Inc. Purchases 2,666 Shares of Parker-Hannifin Corporation $PH

Key Points

• Advisors Asset Management Inc. increased its stake in Parker-Hannifin by 23.7%, owning 13,898 shares valued at approximately $8.45 million.
• Parker-Hannifin reported $5.24 billion in revenue for the last quarter, surpassing analyst estimates, with a notable earnings per share of $7.69.
• The company announced a $1.80 per share quarterly dividend, reflecting an annualized dividend yield of 1.0% and a payout ratio of 26.55%.

Advisors Asset Management Inc. raised its holdings in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 23.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,898 shares of the industrial products company's stock after purchasing an additional 2,666 shares during the period. Advisors Asset Management Inc.'s holdings in Parker-Hannifin were worth $8,448,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. First Manhattan CO. LLC. increased its stake in Parker-Hannifin by 1.0% during the 4th quarter. First Manhattan CO. LLC. now owns 1,580 shares of the industrial products company's stock worth $1,005,000 after purchasing an additional 15 shares in the last quarter. Cascade Financial Partners LLC lifted its holdings in Parker-Hannifin by 3.1% during the 1st quarter. Cascade Financial Partners LLC now owns 498 shares of the industrial products company's stock valued at $303,000 after purchasing an additional 15 shares during the last quarter. Nicolet Advisory Services LLC lifted its holdings in shares of Parker-Hannifin by 3.5% during the first quarter. Nicolet Advisory Services LLC now owns 468 shares of the industrial products company's stock worth $262,000 after buying an additional 16 shares in the last quarter. E Fund Management Co. Ltd. increased its position in shares of Parker-Hannifin by 5.0% in the first quarter. E Fund Management Co. Ltd. now owns 336 shares of the industrial products company's stock worth $204,000 after purchasing an additional 16 shares during the period. Finally, Citizens National Bank Trust Department grew its position in Parker-Hannifin by 8.5% in the first quarter. Citizens National Bank Trust Department now owns 217 shares of the industrial products company's stock valued at $132,000 after acquiring an additional 17 shares during the last quarter. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PH has been the topic of a number of recent analyst reports. Evercore ISI reaffirmed an "outperform" rating on shares of Parker-Hannifin in a research note on Tuesday, August 19th. Susquehanna initiated coverage on Parker-Hannifin in a research report on Friday, August 15th. They issued a "positive" rating and a $860.00 target price for the company. Wall Street Zen downgraded Parker-Hannifin from a "buy" rating to a "hold" rating in a report on Sunday. Deutsche Bank Aktiengesellschaft downgraded Parker-Hannifin from a "buy" rating to a "hold" rating and set a $809.00 price target on the stock. in a report on Thursday. Finally, Morgan Stanley raised their price target on Parker-Hannifin from $700.00 to $725.00 and gave the company an "equal weight" rating in a report on Wednesday, July 9th. Thirteen investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, Parker-Hannifin currently has a consensus rating of "Moderate Buy" and a consensus price target of $770.94.

Insider Activity

In other Parker-Hannifin news, COO Andrew D. Ross sold 4,361 shares of the company's stock in a transaction on Friday, August 8th. The shares were sold at an average price of $732.66, for a total value of $3,195,130.26. Following the transaction, the chief operating officer directly owned 13,120 shares in the company, valued at $9,612,499.20. The trade was a 24.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Robert W. Malone sold 2,257 shares of the company's stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $730.66, for a total transaction of $1,649,099.62. Following the sale, the vice president directly owned 5,866 shares of the company's stock, valued at $4,286,051.56. This represents a 27.79% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,039 shares of company stock valued at $10,356,566. 0.39% of the stock is currently owned by company insiders.

Parker-Hannifin Trading Up 0.2%

Shares of PH traded up $1.67 during mid-day trading on Friday, reaching $758.63. The company had a trading volume of 520,224 shares, compared to its average volume of 616,179. The company has a current ratio of 1.19, a quick ratio of 0.71 and a debt-to-equity ratio of 0.55. The stock has a market cap of $96.94 billion, a price-to-earnings ratio of 27.97, a price-to-earnings-growth ratio of 3.14 and a beta of 1.35. The firm has a fifty day simple moving average of $731.05 and a 200-day simple moving average of $665.13. Parker-Hannifin Corporation has a fifty-two week low of $488.45 and a fifty-two week high of $773.30.

Parker-Hannifin (NYSE:PH - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The industrial products company reported $7.69 earnings per share for the quarter, beating analysts' consensus estimates of $7.08 by $0.61. The business had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.10 billion. Parker-Hannifin had a net margin of 17.79% and a return on equity of 26.80%. The company's revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $6.77 EPS. Parker-Hannifin has set its FY 2026 guidance at 28.400-29.400 EPS. On average, sell-side analysts anticipate that Parker-Hannifin Corporation will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Tuesday, September 2nd will be issued a dividend of $1.80 per share. This represents a $7.20 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Tuesday, September 2nd. Parker-Hannifin's dividend payout ratio (DPR) is presently 26.55%.

About Parker-Hannifin

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.