Clark Capital Management Group Inc. Reduces Stock Position in Parker-Hannifin Corporation $PH

Key Points

• Clark Capital Management Group Inc. reduced its holdings in Parker-Hannifin Corporation by 2.3%, now owning approximately 216,380 shares worth about $131.5 million.
• Insider trading activity included COO Andrew D. Ross selling 4,361 shares for over $3.1 million, representing a 24.95% decrease in ownership.
• Parker-Hannifin recently reported earnings of $7.69 EPS, exceeding expectations, and announced a quarterly dividend of $1.80 per share.

Clark Capital Management Group Inc. cut its position in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 2.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 216,380 shares of the industrial products company's stock after selling 5,086 shares during the period. Parker-Hannifin accounts for approximately 0.9% of Clark Capital Management Group Inc.'s investment portfolio, making the stock its 15th biggest holding. Clark Capital Management Group Inc. owned about 0.17% of Parker-Hannifin worth $131,527,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of 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 valued at $6,700,795,000 after buying an additional 168,990 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of 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 valued at $1,485,042,000 after buying an additional 842,262 shares during the period. Royal Bank of Canada grew its stake in shares of Parker-Hannifin by 99.8% in the 4th quarter. Royal Bank of Canada now owns 2,277,001 shares of the industrial products company's stock valued at $1,448,241,000 after buying an additional 1,137,564 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in shares of Parker-Hannifin by 9.3% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,016,091 shares of the industrial products company's stock valued at $1,282,294,000 after buying an additional 172,064 shares during the period. Finally, Wellington Management Group LLP lifted its position 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 valued at $1,221,323,000 after acquiring an additional 208,573 shares in the last quarter. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Parker-Hannifin Stock Performance

Shares of Parker-Hannifin stock traded up $1.67 during mid-day trading on Friday, hitting $758.63. 520,224 shares of the stock were exchanged, compared to its average volume of 616,179. Parker-Hannifin Corporation has a 12 month low of $488.45 and a 12 month high of $773.30. The company has a 50-day simple moving average of $731.05 and a 200 day simple moving average of $665.13. 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 company has a market capitalization of $96.94 billion, a P/E ratio of 27.97, a P/E/G ratio of 3.14 and a beta of 1.35.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted its 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. 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 analysts' expectations of $5.10 billion. During the same quarter last year, the firm earned $6.77 EPS. The company's quarterly revenue was up 1.1% compared to the same quarter last year. Parker-Hannifin has set its FY 2026 guidance at 28.400-29.400 EPS. Sell-side analysts anticipate that Parker-Hannifin Corporation will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

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

Wall Street Analyst Weigh In

Several brokerages recently weighed in on PH. Wells Fargo & Company raised their price target on shares of Parker-Hannifin from $770.00 to $800.00 and gave the company an "overweight" rating in a research report on Friday, August 8th. Stifel Nicolaus raised their price target on shares of Parker-Hannifin from $717.00 to $726.00 and gave the company a "hold" rating in a research report on Friday, August 8th. Wall Street Zen cut shares of Parker-Hannifin from a "buy" rating to a "hold" rating in a research report on Sunday. Cowen reaffirmed a "hold" rating on shares of Parker-Hannifin in a research report on Friday, August 29th. Finally, Deutsche Bank Aktiengesellschaft cut shares of Parker-Hannifin from a "buy" rating to a "hold" rating and set a $809.00 price target on the stock. in a research report on Thursday. Thirteen investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $770.94.

Insider Buying and Selling

In related news, COO Andrew D. Ross sold 4,361 shares of Parker-Hannifin stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $732.66, for a total value of $3,195,130.26. Following the sale, the chief operating officer 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Angela R. Ives sold 810 shares of Parker-Hannifin stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $727.36, for a total transaction of $589,161.60. Following the completion of the sale, the vice president directly owned 2,798 shares in the company, valued at $2,035,153.28. This trade represents a 22.45% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 14,039 shares of company stock worth $10,356,566 in the last three months. Insiders own 0.39% of the company's stock.

Parker-Hannifin 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.