Parker-Hannifin Corporation $PH Shares Purchased by Allstate Corp

Key Points

• Allstate Corp increased its stake in Parker-Hannifin Corporation by 41.2% in the first quarter, owning a total of 5,373 shares valued at $3,266,000 at the period's end.
• Parker-Hannifin's COO and VP recently sold shares, with insider selling totaling $6.88 million over the last 90 days, as they reduced their ownership by nearly 25%.
• The company reported quarterly earnings of $7.69 per share, exceeding analysts' expectations, and forecasted a FY 2026 guidance of $28.400-29.400 EPS.

Allstate Corp raised its holdings in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 41.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,373 shares of the industrial products company's stock after buying an additional 1,568 shares during the quarter. Allstate Corp's holdings in Parker-Hannifin were worth $3,266,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mpwm Advisory Solutions LLC purchased a new stake in Parker-Hannifin in the 4th quarter valued at about $32,000. Olde Wealth Management LLC purchased a new stake in shares of Parker-Hannifin during the 1st quarter worth about $35,000. Chilton Capital Management LLC grew its holdings in shares of Parker-Hannifin by 1,500.0% during the 1st quarter. Chilton Capital Management LLC now owns 64 shares of the industrial products company's stock worth $39,000 after purchasing an additional 60 shares during the period. Accent Capital Management LLC purchased a new stake in shares of Parker-Hannifin during the 1st quarter worth about $41,000. Finally, Sierra Ocean LLC grew its holdings in shares of Parker-Hannifin by 89.5% during the 1st quarter. Sierra Ocean LLC now owns 72 shares of the industrial products company's stock worth $44,000 after purchasing an additional 34 shares during the period. Hedge funds and other institutional investors own 82.44% of the company's stock.

Insider Buying and Selling at Parker-Hannifin

In related news, VP Robert W. Malone sold 2,257 shares of the company's stock in a transaction that occurred on 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 approximately $4,286,051.56. This represents a 27.79% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Thomas C. Gentile sold 1,133 shares of the company's stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $729.50, for a total value of $826,523.50. Following the sale, the vice president directly owned 5,465 shares in the company, valued at approximately $3,986,717.50. This represents a 17.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 9,414 shares of company stock worth $6,883,931. 0.39% of the stock is owned by insiders.

Parker-Hannifin Stock Up 0.8%

Shares of PH traded up $6.45 during trading on Wednesday, reaching $768.00. The company's stock had a trading volume of 635,599 shares, compared to its average volume of 750,164. The company has a fifty day moving average of $716.99 and a two-hundred day moving average of $661.40. Parker-Hannifin Corporation has a twelve month low of $488.45 and a twelve month high of $768.45. The company has a market cap of $98.13 billion, a price-to-earnings ratio of 28.32, a P/E/G ratio of 3.11 and a beta of 1.37. The company has a quick ratio of 0.71, a current ratio of 1.19 and a debt-to-equity ratio of 0.55.

Parker-Hannifin (NYSE:PH - Get Free Report) last announced its earnings results on Thursday, August 7th. The industrial products company reported $7.69 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $7.08 by $0.61. Parker-Hannifin had a return on equity of 26.80% and a net margin of 17.79%.The company had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.10 billion. During the same period in the prior year, the company posted $6.77 EPS. Parker-Hannifin's quarterly 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 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Tuesday, September 2nd will be given a dividend of $1.80 per share. This represents a $7.20 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Tuesday, September 2nd. Parker-Hannifin's dividend payout ratio is currently 26.55%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Mizuho set a $785.00 target price on Parker-Hannifin in a report on Friday, May 16th. Stifel Nicolaus boosted their target price on Parker-Hannifin from $717.00 to $726.00 and gave the stock a "hold" rating in a report on Friday, August 8th. Evercore ISI reiterated an "outperform" rating on shares of Parker-Hannifin in a report on Tuesday, August 19th. Raymond James Financial boosted their target price on Parker-Hannifin from $735.00 to $845.00 and gave the stock an "outperform" rating in a report on Friday, August 8th. Finally, Barclays boosted their target price on Parker-Hannifin from $750.00 to $776.00 and gave the stock an "overweight" rating in a report on Friday, August 8th. Fourteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $768.71.

Parker-Hannifin Profile

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.