BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Reduces Stock Holdings in Parker-Hannifin Corporation $PH

Key Points

• British Columbia Investment Management Corp has reduced its stock holdings in Parker-Hannifin Corporation by 52.1%, selling 26,824 shares to hold 24,616 shares valued at approximately $14.96 million.
• Parker-Hannifin recently reported quarterly earnings of $7.69 EPS, exceeding estimates, alongside a revenue of $5.24 billion, which is a 1.1% increase year-over-year.
• The company declared a quarterly dividend of $1.80 per share, representing an annualized dividend yield of 1.0%, with a payout ratio of 26.55%.

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lowered its holdings in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 52.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 24,616 shares of the industrial products company's stock after selling 26,824 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in Parker-Hannifin were worth $14,963,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of PH. Mpwm Advisory Solutions LLC purchased a new position in Parker-Hannifin during the 4th quarter valued at $32,000. Olde Wealth Management LLC purchased a new position in Parker-Hannifin during the 1st quarter valued at $35,000. Chilton Capital Management LLC boosted its holdings in Parker-Hannifin by 1,500.0% during the 1st quarter. Chilton Capital Management LLC now owns 64 shares of the industrial products company's stock valued at $39,000 after acquiring an additional 60 shares during the period. Accent Capital Management LLC purchased a new position in Parker-Hannifin during the 1st quarter valued at $41,000. Finally, Sierra Ocean LLC boosted its holdings in Parker-Hannifin by 89.5% during the 1st quarter. Sierra Ocean LLC now owns 72 shares of the industrial products company's stock valued at $44,000 after acquiring an additional 34 shares during the period. Hedge funds and other institutional investors own 82.44% of the company's stock.

Insider Transactions at Parker-Hannifin

In other news, VP Robert W. Malone sold 2,257 shares of the business's stock in a transaction on Friday, August 8th. The stock was sold at an average price of $730.66, for a total value of $1,649,099.62. Following the completion of the transaction, the vice president directly owned 5,866 shares of the company's stock, valued at approximately $4,286,051.56. The trade was a 27.79% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Andrew D. Ross sold 4,361 shares of the business's stock in a transaction on 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 completion of the transaction, the chief operating officer directly owned 13,120 shares of the company's stock, valued at approximately $9,612,499.20. The trade was a 24.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 9,414 shares of company stock worth $6,883,931. Company insiders own 0.39% of the company's stock.

Parker-Hannifin Trading Up 2.6%

PH opened at $752.3780 on Friday. The firm has a market cap of $96.14 billion, a price-to-earnings ratio of 27.74, a PEG ratio of 3.12 and a beta of 1.37. The company has a current ratio of 1.19, a quick ratio of 0.71 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 $763.99. The stock has a fifty day moving average price of $713.04 and a 200-day moving average price of $660.45.

Parker-Hannifin (NYSE:PH - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The industrial products company reported $7.69 EPS for the quarter, topping the consensus estimate of $7.08 by $0.61. The firm had revenue of $5.24 billion during 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 business's revenue for the quarter was up 1.1% compared to the same quarter last year. During the same period in the previous year, the company posted $6.77 EPS. Parker-Hannifin has set its FY 2026 guidance at 28.400-29.400 EPS. As a group, equities research analysts anticipate that Parker-Hannifin Corporation will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Tuesday, September 2nd will be given 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 presently 26.55%.

Wall Street Analyst Weigh In

PH has been the subject of a number of recent analyst reports. Argus set a $680.00 price objective on Parker-Hannifin in a report on Tuesday, May 6th. Morgan Stanley lifted their target price on Parker-Hannifin from $700.00 to $725.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 9th. Susquehanna initiated coverage on Parker-Hannifin in a research report on Friday, August 15th. They set a "positive" rating and a $860.00 target price for the company. Mizuho set a $785.00 target price on Parker-Hannifin in a research report on Friday, May 16th. Finally, Stifel Nicolaus lifted their target price on Parker-Hannifin from $717.00 to $726.00 and gave the company a "hold" rating in a research report on Friday, August 8th. Fourteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $768.71.

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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