Parker-Hannifin Corporation $PH Shares Purchased by Bowen Hanes & Co. Inc.

Key Points

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Bowen Hanes & Co. Inc. grew its position in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 17.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 94,840 shares of the industrial products company's stock after buying an additional 13,955 shares during the quarter. Parker-Hannifin accounts for approximately 1.6% of Bowen Hanes & Co. Inc.'s holdings, making the stock its 27th biggest holding. Bowen Hanes & Co. Inc. owned 0.07% of Parker-Hannifin worth $57,648,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. SG Americas Securities LLC increased its position in shares of Parker-Hannifin by 27.2% in the first quarter. SG Americas Securities LLC now owns 31,011 shares of the industrial products company's stock valued at $18,850,000 after buying an additional 6,630 shares in the last quarter. Alley Investment Management Company LLC purchased a new stake in Parker-Hannifin during the 1st quarter worth about $7,996,000. Community Financial Services Group LLC increased its position in Parker-Hannifin by 1,338.2% during the 1st quarter. Community Financial Services Group LLC now owns 6,630 shares of the industrial products company's stock worth $4,030,000 after purchasing an additional 6,169 shares in the last quarter. Heartland Bank & Trust Co purchased a new stake in Parker-Hannifin during the 1st quarter worth about $260,000. Finally, Banco Santander S.A. increased its position in Parker-Hannifin by 70.2% during the 1st quarter. Banco Santander S.A. now owns 35,645 shares of the industrial products company's stock worth $21,667,000 after purchasing an additional 14,705 shares in the last quarter. Hedge funds and other institutional investors own 82.44% of the company's stock.

Analyst Ratings Changes

A number of research firms recently commented on PH. Evercore ISI reiterated an "outperform" rating on shares of Parker-Hannifin in a research report on Tuesday. Stifel Nicolaus lifted their price objective on Parker-Hannifin from $717.00 to $726.00 and gave the stock a "hold" rating in a research report on Friday, August 8th. Mizuho set a $785.00 price objective on Parker-Hannifin in a research report on Friday, May 16th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Parker-Hannifin in a research report on Friday, August 8th. Finally, Morgan Stanley lifted their price objective 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. Fourteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $768.71.

Parker-Hannifin Trading Up 2.6%

NYSE:PH traded up $19.3280 during mid-day trading on Friday, reaching $752.3780. The company's stock had a trading volume of 725,793 shares, compared to its average volume of 767,288. The company's fifty day simple moving average is $713.04 and its two-hundred day simple moving average is $660.65. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.19 and a quick ratio of 0.71. Parker-Hannifin Corporation has a twelve month low of $488.45 and a twelve month high of $763.99. The stock has a market cap of $96.14 billion, a P/E ratio of 27.74, a P/E/G ratio of 3.04 and a beta of 1.37.

Parker-Hannifin (NYSE:PH - Get Free Report) last issued its quarterly earnings results 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. The firm had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.10 billion. Parker-Hannifin had a return on equity of 26.80% and a net margin of 17.79%.The firm's quarterly revenue was up 1.1% on a year-over-year basis. During the same period last year, the company earned $6.77 EPS. Parker-Hannifin has set its FY 2026 guidance at 28.400-29.400 EPS. On average, equities analysts predict that Parker-Hannifin Corporation will post 26.71 EPS for the current year.

Parker-Hannifin Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Tuesday, September 2nd will be 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 is Tuesday, September 2nd. Parker-Hannifin's payout ratio is currently 26.55%.

Insiders Place Their Bets

In other news, COO Andrew D. Ross sold 4,361 shares of Parker-Hannifin stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $732.66, for a total value of $3,195,130.26. Following the transaction, the chief operating officer directly owned 13,120 shares of the company's stock, valued at $9,612,499.20. The trade was a 24.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Matthew A. Jacobson sold 575 shares of Parker-Hannifin 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 completion of the transaction, the vice president directly owned 1,000 shares in the company, valued at $733,060. This represents a 36.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,414 shares of company stock worth $6,883,931. 0.39% of the stock is 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.