Allspring Global Investments Holdings LLC Trims Position in Parker-Hannifin Corporation $PH

Key Points

• Allspring Global Investments Holdings LLC has reduced its stake in Parker-Hannifin Corporation by 24.4%, selling 12,066 shares during the second quarter, resulting in 37,366 shares valued at approximately $26.3 million.
• Parker-Hannifin reported $7.69 earnings per share for its last quarter, surpassing estimates, with revenue of $5.24 billion, reflecting a 1.1% year-over-year growth.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Parker-Hannifin, with a target price of $787.61, indicating positive sentiment toward the stock's future performance.

Allspring Global Investments Holdings LLC lessened its stake in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 24.4% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 37,366 shares of the industrial products company's stock after selling 12,066 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Parker-Hannifin were worth $26,279,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Second Half Financial Partners LLC purchased a new position in Parker-Hannifin during the 2nd quarter valued at about $202,000. CWM LLC boosted its position in shares of Parker-Hannifin by 2.8% during the 2nd quarter. CWM LLC now owns 4,924 shares of the industrial products company's stock valued at $3,439,000 after acquiring an additional 134 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its position in shares of Parker-Hannifin by 22.6% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 17,461 shares of the industrial products company's stock valued at $12,198,000 after acquiring an additional 3,220 shares during the last quarter. Concurrent Investment Advisors LLC boosted its position in shares of Parker-Hannifin by 53.0% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 7,558 shares of the industrial products company's stock valued at $5,279,000 after acquiring an additional 2,619 shares during the last quarter. Finally, Johnson Investment Counsel Inc. boosted its position in shares of Parker-Hannifin by 12.0% during the 2nd quarter. Johnson Investment Counsel Inc. now owns 2,423 shares of the industrial products company's stock valued at $1,692,000 after acquiring an additional 260 shares during the last quarter. Hedge funds and other institutional investors own 82.44% of the company's stock.

Parker-Hannifin Stock Performance

NYSE:PH opened at $724.88 on Friday. The business has a 50 day moving average of $750.37 and a 200 day moving average of $688.28. The company has a market capitalization of $91.73 billion, a price-to-earnings ratio of 26.73, a PEG ratio of 3.05 and a beta of 1.35. Parker-Hannifin Corporation has a 1-year low of $488.45 and a 1-year high of $779.77. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.19 and a quick ratio of 0.71.

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 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 quarter in the previous year, the company posted $6.77 earnings per share. The business's revenue was up 1.1% on a year-over-year basis. Parker-Hannifin has set its FY 2026 guidance at 28.400-29.400 EPS. On average, sell-side analysts predict that Parker-Hannifin Corporation will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Tuesday, September 2nd were given a $1.80 dividend. The ex-dividend date was Tuesday, September 2nd. This represents a $7.20 annualized dividend and a yield of 1.0%. Parker-Hannifin's payout ratio is presently 26.55%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on PH shares. Wall Street Zen upgraded Parker-Hannifin from a "hold" rating to a "buy" rating in a research report on Saturday, September 20th. Wells Fargo & Company lifted their price target on Parker-Hannifin from $800.00 to $840.00 and gave the company an "overweight" rating in a research report on Monday, October 6th. Barclays lifted their price target on Parker-Hannifin from $776.00 to $785.00 and gave the company an "overweight" rating in a research report on Wednesday, October 1st. Stifel Nicolaus lifted their price target on Parker-Hannifin from $717.00 to $726.00 and gave the company a "hold" rating in a research report on Friday, August 8th. Finally, Evercore ISI reiterated an "outperform" rating on shares of Parker-Hannifin in a research report on Tuesday, August 19th. Thirteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $787.61.

Insider Transactions at Parker-Hannifin

In other Parker-Hannifin news, COO Andrew D. Ross sold 4,361 shares of the business's stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $732.66, for a total value of $3,195,130.26. Following the completion of the sale, the chief operating officer owned 13,120 shares in the company, valued at approximately $9,612,499.20. The trade was a 24.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Angela R. Ives sold 810 shares of the business's stock in a transaction that occurred on Friday, August 8th. The shares were 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 $2,035,153.28. The trade was a 22.45% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 14,039 shares of company stock valued at $10,356,566. Insiders own 0.32% of the company's stock.

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.

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