Apollon Wealth Management LLC Boosts Stock Position in Parker-Hannifin Corporation $PH

Key Points

• Apollon Wealth Management LLC increased its stake in Parker-Hannifin Corporation by 11.1% during the second quarter, holding a total of 15,172 shares valued at approximately $10.6 million.
• Parker-Hannifin's recent quarterly earnings showed an EPS of $7.69, exceeding estimates, with revenues of $5.24 billion, marking a 1.1% year-over-year increase.
• The company also declared a quarterly dividend of $1.80, resulting in a 1.0% dividend yield based on its annual payout.

Apollon Wealth Management LLC raised its stake in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 11.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,172 shares of the industrial products company's stock after purchasing an additional 1,515 shares during the period. Apollon Wealth Management LLC's holdings in Parker-Hannifin were worth $10,597,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew 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 grew its stake in shares of Parker-Hannifin by 52.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,443,104 shares of the industrial products company's stock worth $1,485,042,000 after acquiring an additional 842,262 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Parker-Hannifin by 11.6% during the first quarter. Wellington Management Group LLP now owns 2,009,250 shares of the industrial products company's stock worth $1,221,323,000 after acquiring an additional 208,573 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Parker-Hannifin by 0.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,594,347 shares of the industrial products company's stock worth $969,124,000 after acquiring an additional 11,815 shares during the last quarter. Finally, Nuveen LLC purchased a new stake in shares of Parker-Hannifin during the first quarter worth about $933,089,000. Hedge funds and other institutional investors own 82.44% of the company's stock.

Parker-Hannifin Stock Down 3.0%

Shares of NYSE:PH opened at $716.31 on Friday. Parker-Hannifin Corporation has a 52-week low of $488.45 and a 52-week high of $779.77. The business has a fifty day moving average of $748.97 and a two-hundred day moving average of $685.15. The stock has a market cap of $90.64 billion, a P/E ratio of 26.41, a PEG ratio of 3.06 and a beta of 1.35. 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 quarterly earnings results on Thursday, August 7th. The industrial products company reported $7.69 EPS 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 business had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.10 billion. During the same quarter in the prior year, the company posted $6.77 EPS. The company'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, research analysts expect that Parker-Hannifin Corporation will post 26.71 earnings per share for the current year.

Parker-Hannifin Announces Dividend

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

Wall Street Analyst Weigh In

PH has been the topic of a number of research analyst reports. Citigroup boosted their price target on Parker-Hannifin from $831.00 to $874.00 and gave the stock a "buy" rating in a research note on Thursday. Stifel Nicolaus lifted 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. Morgan Stanley lifted their target price on Parker-Hannifin from $700.00 to $725.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 9th. Wells Fargo & Company lifted their target price on Parker-Hannifin from $800.00 to $840.00 and gave the stock an "overweight" rating in a report on Monday, October 6th. Finally, Wall Street Zen raised Parker-Hannifin from a "hold" rating to a "buy" rating in a report on Saturday, September 20th. Fourteen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $786.78.

Insider Activity

In related news, EVP Joseph R. Leonti sold 4,625 shares of the stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $750.84, for a total transaction of $3,472,635.00. Following the transaction, the executive vice president owned 13,878 shares of the company's stock, valued at approximately $10,420,157.52. This represents a 25.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Robert W. Malone sold 2,257 shares of the stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $730.66, for a total value of $1,649,099.62. Following the completion of the sale, the vice president directly owned 5,866 shares in the company, valued at $4,286,051.56. This represents a 27.79% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 14,039 shares of company stock worth $10,356,566 in the last quarter. 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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