Bahl & Gaynor Inc. Purchases Shares of 41,526 Parker-Hannifin Corporation $PH

Key Points

• Bahl & Gaynor Inc. has acquired a new stake in Parker-Hannifin Corporation, purchasing 41,526 shares valued at approximately $25.2 million in the first quarter.
• Several institutional investors, including Vanguard Group and Price T Rowe Associates, have significantly increased their holdings in Parker-Hannifin, showing strong interest in the company's stock.
• Parker-Hannifin announced a quarterly dividend of $1.80 per share, reflecting an annualized yield of 1.0%, with the payment date set for September 12th.

Bahl & Gaynor Inc. acquired a new position in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 41,526 shares of the industrial products company's stock, valued at approximately $25,242,000.

Several other large investors also recently modified their holdings of PH. Mpwm Advisory Solutions LLC bought a new position in Parker-Hannifin in the 4th quarter valued at about $32,000. Olde Wealth Management LLC bought a new stake in shares of Parker-Hannifin during the first quarter worth approximately $35,000. Chilton Capital Management LLC grew its position in shares of Parker-Hannifin by 1,500.0% in 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 last quarter. Accent Capital Management LLC bought a new position in shares of Parker-Hannifin during the first quarter worth approximately $41,000. Finally, Sierra Ocean LLC increased its stake in shares of Parker-Hannifin by 89.5% during the first 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. 82.44% of the stock is owned by institutional investors.

Insider Transactions at Parker-Hannifin

In other Parker-Hannifin news, 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 transaction of $1,649,099.62. Following the completion of the transaction, the vice president owned 5,866 shares in the company, valued at $4,286,051.56. This trade represents a 27.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Joseph R. Leonti sold 4,625 shares of Parker-Hannifin stock in a transaction on Monday, August 25th. The shares were sold at an average price of $750.84, for a total value of $3,472,635.00. Following the completion of the transaction, the executive vice president owned 13,878 shares of the company's stock, valued at approximately $10,420,157.52. This trade represents a 25.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 14,039 shares of company stock worth $10,356,566. 0.39% of the stock is owned by insiders.

Analysts Set New Price Targets

PH has been the subject of a number of research reports. Barclays lifted 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. Evercore ISI reaffirmed an "outperform" rating on shares of Parker-Hannifin in a research report on Tuesday, August 19th. Susquehanna started coverage on shares of Parker-Hannifin in a report on Friday, August 15th. They issued a "positive" rating and a $860.00 price objective for the company. Argus set a $680.00 target price on shares of Parker-Hannifin in a report on Tuesday, May 6th. Finally, Citigroup reiterated a "buy" rating and issued a $831.00 price target (up from $709.00) on shares of Parker-Hannifin in a research report on Monday, July 14th. Fourteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $768.71.

Parker-Hannifin Price Performance

Shares of NYSE:PH traded up $6.45 during midday trading on Wednesday, hitting $768.00. The stock had a trading volume of 636,493 shares, compared to its average volume of 750,980. 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 fifty-two week low of $488.45 and a fifty-two week high of $768.45. The company has a market capitalization of $98.13 billion, a P/E ratio of 28.32, a price-to-earnings-growth ratio of 3.11 and a beta of 1.37. The company's 50-day moving average price is $716.99 and its 200-day moving average price is $661.40.

Parker-Hannifin (NYSE:PH - Get Free Report) last issued its earnings results on Thursday, August 7th. The industrial products company reported $7.69 earnings per share for the quarter, beating analysts' consensus estimates of $7.08 by $0.61. Parker-Hannifin had a net margin of 17.79% and a return on equity of 26.80%. The firm had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.10 billion. During the same quarter last year, the business posted $6.77 earnings per share. 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. As a group, equities research analysts predict that Parker-Hannifin Corporation will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

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

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.