Bar Harbor Wealth Management Has $4.46 Million Holdings in Parker-Hannifin Corporation $PH

Key Points

• Bar Harbor Wealth Management significantly reduced its stake in Parker-Hannifin Corporation by 70.9% in the second quarter, holding a total of $4.46 million in shares after selling over 15,000 shares during this period.
• Various institutional investors, including Vanguard Group and Price T Rowe Associates, have also boosted their stakes in Parker-Hannifin, which has resulted in 82.44% of the stock being owned by institutional investors.
• Parker-Hannifin's recent earnings report exceeded expectations, with an EPS of $7.69 and revenue of $5.24 billion, indicating a small year-over-year growth of 1.1% in revenue.

Bar Harbor Wealth Management cut its stake in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 70.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,384 shares of the industrial products company's stock after selling 15,565 shares during the period. Bar Harbor Wealth Management's holdings in Parker-Hannifin were worth $4,459,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Parker-Hannifin by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 11,023,764 shares of the industrial products company's stock worth $6,700,795,000 after purchasing an additional 168,990 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Parker-Hannifin by 52.6% in the 1st 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 purchasing an additional 842,262 shares during the period. Wellington Management Group LLP boosted its stake in Parker-Hannifin by 11.6% in the 1st quarter. Wellington Management Group LLP now owns 2,009,250 shares of the industrial products company's stock worth $1,221,323,000 after purchasing an additional 208,573 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Parker-Hannifin by 0.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,594,347 shares of the industrial products company's stock worth $969,124,000 after buying an additional 11,815 shares in the last quarter. Finally, Nuveen LLC acquired a new position in shares of Parker-Hannifin during the 1st quarter worth about $933,089,000. 82.44% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on PH shares. Cowen restated a "hold" rating on shares of Parker-Hannifin in a research note on Friday, August 29th. Deutsche Bank Aktiengesellschaft downgraded shares of Parker-Hannifin from a "buy" rating to a "hold" rating and set a $809.00 price objective for the company. in a research note on Thursday, September 4th. Morgan Stanley increased their price objective on shares of Parker-Hannifin from $700.00 to $725.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 9th. Evercore ISI restated an "outperform" rating on shares of Parker-Hannifin in a research note on Tuesday, August 19th. Finally, Raymond James Financial increased their price objective on shares of Parker-Hannifin from $735.00 to $845.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. Fourteen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, Parker-Hannifin presently has an average rating of "Moderate Buy" and an average price target of $784.39.

Parker-Hannifin Stock Up 0.4%

Shares of PH stock opened at $753.71 on Thursday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.71 and a current ratio of 1.19. The firm's 50-day moving average is $748.74 and its 200-day moving average is $684.04. The stock has a market cap of $95.37 billion, a price-to-earnings ratio of 27.79, a PEG ratio of 3.11 and a beta of 1.35. Parker-Hannifin Corporation has a 52-week low of $488.45 and a 52-week high of $779.77.

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 (EPS) for the quarter, beating analysts' consensus estimates of $7.08 by $0.61. The company had revenue of $5.24 billion for the quarter, compared to analysts' expectations of $5.10 billion. Parker-Hannifin had a net margin of 17.79% and a return on equity of 26.80%. Parker-Hannifin's quarterly revenue was up 1.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $6.77 EPS. Parker-Hannifin has set its FY 2026 guidance at 28.400-29.400 EPS. Sell-side analysts predict that Parker-Hannifin Corporation will post 26.71 EPS for the current year.

Parker-Hannifin Dividend Announcement

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

Insider Transactions at Parker-Hannifin

In other Parker-Hannifin news, VP Thomas C. Gentile sold 1,133 shares of the stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $729.50, for a total value of $826,523.50. Following the transaction, the vice president directly owned 5,465 shares of the company's stock, valued at $3,986,717.50. This represents a 17.17% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Angela R. Ives sold 810 shares of the stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $727.36, for a total transaction of $589,161.60. Following the completion of the transaction, the vice president directly owned 2,798 shares in the company, valued at approximately $2,035,153.28. This represents a 22.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 14,039 shares of company stock worth $10,356,566. 0.32% of the stock is currently owned by insiders.

Parker-Hannifin Company 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.

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