Ascent Group LLC Grows Stock Holdings in Parker-Hannifin Corporation $PH

Key Points

• Ascent Group LLC increased its stake in Parker-Hannifin Corporation by 21.1%, acquiring an additional 780 shares, bringing its total to 4,477 shares valued at $2.721 million.
• Parker-Hannifin has received a range of ratings from brokerages, with an average price target of $770.94 and 13 analysts rating the stock as a Buy.
• The company announced a quarterly dividend of $1.80 per share, equating to an annualized dividend of $7.20 and a yield of 0.9%.

Ascent Group LLC increased its holdings in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 21.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,477 shares of the industrial products company's stock after acquiring an additional 780 shares during the period. Ascent Group LLC's holdings in Parker-Hannifin were worth $2,721,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Wealth Preservation Advisors LLC bought a new position in Parker-Hannifin during the first quarter valued at $27,000. Mpwm Advisory Solutions LLC bought a new position in Parker-Hannifin during the fourth quarter valued at $32,000. Saudi Central Bank bought a new position in Parker-Hannifin during the first quarter valued at $31,000. Olde Wealth Management LLC bought a new position in Parker-Hannifin during the first quarter valued at $35,000. Finally, Chilton Capital Management LLC grew its holdings in Parker-Hannifin by 1,500.0% during the first quarter. Chilton Capital Management LLC now owns 64 shares of the industrial products company's stock valued at $39,000 after purchasing an additional 60 shares during the period. 82.44% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Parker-Hannifin news, COO Andrew D. Ross sold 4,361 shares of the firm's stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $732.66, for a total transaction of $3,195,130.26. Following the sale, the chief operating officer owned 13,120 shares in the company, valued at $9,612,499.20. This trade represents a 24.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Matthew A. Jacobson sold 575 shares of the firm's stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $733.06, for a total value of $421,509.50. Following the sale, the vice president owned 1,000 shares in the company, valued at $733,060. The trade was a 36.51% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 14,039 shares of company stock valued at $10,356,566 in the last ninety days. 0.39% of the stock is owned by insiders.

Parker-Hannifin Price Performance

Shares of PH stock traded down $9.59 on Friday, reaching $760.08. The company's stock had a trading volume of 463,454 shares, compared to its average volume of 569,299. 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 Corporation has a 12-month low of $488.45 and a 12-month high of $779.77. The company has a market capitalization of $97.12 billion, a P/E ratio of 28.03, a PEG ratio of 3.14 and a beta of 1.35. The stock's 50 day simple moving average is $736.22 and its 200-day simple moving average is $668.50.

Parker-Hannifin (NYSE:PH - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The industrial products company reported $7.69 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $5.10 billion. During the same quarter last year, the business posted $6.77 earnings per share. The firm's revenue was up 1.1% compared to the same quarter last year. Parker-Hannifin has set its FY 2026 guidance at 28.400-29.400 EPS. As a group, equities analysts predict that Parker-Hannifin Corporation will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

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

Analyst Ratings Changes

PH has been the subject of several research reports. Barclays increased their price objective on Parker-Hannifin from $750.00 to $776.00 and gave the company an "overweight" rating in a report on Friday, August 8th. Citigroup restated a "buy" rating and set a $831.00 target price (up previously from $709.00) on shares of Parker-Hannifin in a research report on Monday, July 14th. Wells Fargo & Company increased their target price on Parker-Hannifin from $770.00 to $800.00 and gave the stock an "overweight" rating in a research report on Friday, August 8th. Morgan Stanley increased their target price on Parker-Hannifin from $700.00 to $725.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 9th. Finally, Stifel Nicolaus increased their target price on Parker-Hannifin from $717.00 to $726.00 and gave the stock a "hold" rating in a research report on Friday, August 8th. Thirteen research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, Parker-Hannifin currently has an average rating of "Moderate Buy" and a consensus price target of $770.94.

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.