Brookstone Capital Management Acquires 1,058 Shares of Parker-Hannifin Corporation $PH

Key Points

• Brookstone Capital Management increased its stake in Parker-Hannifin Corporation by 16.9%, acquiring 1,058 additional shares, bringing its total holdings to 7,313 shares valued at $5,108,000.
• Parker-Hannifin reported earnings per share of $7.69 for the last quarter, exceeding analysts' expectations, with a reported revenue of $5.24 billion.
• The company announced a quarterly dividend of $1.80, representing an annualized dividend of $7.20 and a yield of 0.9%, payable to stockholders on December 5th.

Brookstone Capital Management lifted its holdings in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 16.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,313 shares of the industrial products company's stock after purchasing an additional 1,058 shares during the period. Brookstone Capital Management's holdings in Parker-Hannifin were worth $5,108,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the business. Wealth Preservation Advisors LLC acquired a new position in Parker-Hannifin in the first quarter valued at approximately $27,000. Saudi Central Bank acquired a new position in shares of Parker-Hannifin during the 1st quarter valued at $31,000. Interchange Capital Partners LLC bought a new position in Parker-Hannifin during the second quarter worth $31,000. Olde Wealth Management LLC bought a new position in Parker-Hannifin during the first quarter worth $35,000. Finally, Chilton Capital Management LLC grew its holdings in 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 worth $39,000 after purchasing an additional 60 shares during the period. 82.44% of the stock is currently owned by institutional investors.

Parker-Hannifin Stock Performance

Shares of PH opened at $766.20 on Friday. 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 stock has a 50 day moving average price of $750.77 and a two-hundred day moving average price of $694.45. The firm has a market capitalization of $96.96 billion, a P/E ratio of 28.25, a P/E/G ratio of 3.07 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 posted 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. The company 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 company's revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter last year, the company earned $6.77 earnings per share. Parker-Hannifin has set its FY 2026 guidance at 28.400-29.400 EPS. Equities analysts forecast that Parker-Hannifin Corporation will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Friday, November 7th will be paid a $1.80 dividend. The ex-dividend date is Friday, November 7th. This represents a $7.20 annualized dividend and a dividend yield of 0.9%. Parker-Hannifin's dividend payout ratio is presently 26.55%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on PH shares. KeyCorp increased their price objective on shares of Parker-Hannifin from $810.00 to $825.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 14th. Citigroup upped their price target on Parker-Hannifin from $831.00 to $874.00 and gave the stock a "buy" rating in a research note on Thursday, October 9th. Wall Street Zen upgraded Parker-Hannifin from a "hold" rating to a "buy" rating in a report on Saturday, September 20th. Weiss Ratings restated a "buy (b)" rating on shares of Parker-Hannifin in a report on Wednesday, October 8th. Finally, Susquehanna assumed coverage on Parker-Hannifin in a research report on Friday, August 15th. They set a "positive" rating and a $860.00 target price on the stock. Fourteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, Parker-Hannifin currently has a consensus rating of "Moderate Buy" and an average price target of $789.67.

Insider Transactions at Parker-Hannifin

In other Parker-Hannifin news, EVP Joseph R. Leonti sold 4,625 shares of the company's stock in a transaction dated 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 sale, the executive vice president directly owned 13,878 shares of the company's stock, valued at approximately $10,420,157.52. This represents a 25.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Matthew A. Jacobson sold 575 shares of Parker-Hannifin stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $733.06, for a total transaction of $421,509.50. Following the transaction, the vice president directly owned 1,000 shares in the company, valued at approximately $733,060. This represents a 36.51% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 14,039 shares of company stock worth $10,356,566. 0.32% 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.

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