AIA Group Ltd Sells 1,449 Shares of Parker-Hannifin Corporation $PH

Key Points

• AIA Group cut its Parker-Hannifin position by 11.7%, selling 1,449 shares in the third quarter and retaining 10,956 shares valued at about $10.5 million.
• Parker-Hannifin reported quarterly EPS of $9.27, beating the $8.31 estimate, while revenue rose 9.8% year over year to $5.75 billion. The company set FY2027 EPS guidance of $34.25–$35.25.
• Analysts’ average rating was “Moderate Buy,” with an average price target of $1,146.35. The company also announced a quarterly dividend of $2 per share, equivalent to an annualized yield of 0.8%.

AIA Group Ltd decreased its position in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 11.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,956 shares of the industrial products company's stock after selling 1,449 shares during the period. AIA Group Ltd's holdings in Parker-Hannifin were worth $10,468,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of PH. Provenance Wealth Advisors LLC boosted its stake in Parker-Hannifin by 6,466.7% during the third quarter. Provenance Wealth Advisors LLC now owns 197 shares of the industrial products company's stock worth $188,000 after buying an additional 194 shares in the last quarter. Associated Banc Corp bought a new stake in Parker-Hannifin in the 3rd quarter valued at $383,000. Fischer Financial Services Inc. raised its stake in shares of Parker-Hannifin by 0.4% in the 3rd quarter. Fischer Financial Services Inc. now owns 5,844 shares of the industrial products company's stock valued at $5,583,000 after buying an additional 24 shares in the last quarter. Putney Financial Group LLC acquired a new position in shares of Parker-Hannifin in the 3rd quarter valued at $97,000. Finally, Integrity Alliance LLC. lifted its holdings in shares of Parker-Hannifin by 4.8% during the 3rd quarter. Integrity Alliance LLC. now owns 680 shares of the industrial products company's stock worth $650,000 after acquiring an additional 31 shares during the period. Institutional investors own 82.44% of the company's stock.

Parker-Hannifin Trading Up 1.9%

Shares of Parker-Hannifin stock opened at $945.66 on Wednesday. The stock has a market capitalization of $119.26 billion, a P/E ratio of 28.73, a price-to-earnings-growth ratio of 2.59 and a beta of 1.15. The company has a quick ratio of 0.74, a current ratio of 1.26 and a debt-to-equity ratio of 0.44. The company has a 50-day simple moving average of $953.31 and a 200 day simple moving average of $949.73. Parker-Hannifin Corporation has a 12-month low of $755.10 and a 12-month high of $1,099.94.

Parker-Hannifin (NYSE:PH - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The industrial products company reported $9.27 EPS for the quarter, beating analysts' consensus estimates of $8.31 by $0.96. The firm had revenue of $5.75 billion for the quarter, compared to analyst estimates of $5.57 billion. Parker-Hannifin had a net margin of 16.97% and a return on equity of 28.48%. The company's revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the previous 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 expect that Parker-Hannifin Corporation will post 35.72 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 4th. Stockholders of record on Friday, November 13th will be issued a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Friday, November 13th. Parker-Hannifin's dividend payout ratio is presently 28.08%.

Analyst Ratings Changes

Several brokerages have recently weighed in on PH. Argus lifted their target price on shares of Parker-Hannifin from $1,030.00 to $1,200.00 and gave the company a "buy" rating in a research report on Monday, August 10th. Stifel Nicolaus set a $1,002.00 price target on shares of Parker-Hannifin in a research report on Monday, October 19th. Mizuho set a $1,200.00 price objective on Parker-Hannifin in a report on Thursday, October 15th. UBS Group set a $950.00 price objective on Parker-Hannifin in a research note on Wednesday, October 14th. Finally, BNP Paribas Exane increased their target price on Parker-Hannifin from $1,220.00 to $1,270.00 and gave the stock an "outperform" rating in a report on Friday, September 18th. Eighteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, Parker-Hannifin presently has an average rating of "Moderate Buy" and an average target price of $1,146.35.

Insider Activity at Parker-Hannifin

In other news, VP Berend Bracht sold 602 shares of the firm's stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $1,040.47, for a total value of $626,362.94. Following the completion of the sale, the vice president directly owned 4,399 shares in the company, valued at approximately $4,577,027.53. This trade represents a 12.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.35% of the company's stock.

Parker-Hannifin Company 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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