Comerica Bank Has $32.37 Million Holdings in Parker-Hannifin Corporation $PH

Key Points

• Comerica Bank reduced its holdings in Parker-Hannifin Corporation by 4.7%, owning a total of 53,251 shares worth approximately $32.37 million at the end of the last quarter.
• Insider trading activity saw COO Andrew D. Ross and VP Robert W. Malone sell significant shares, with Ross's transaction totaling over $3.19 million, indicating a notable decrease in their ownership positions.
• Recent analyst reports have increased price targets for Parker-Hannifin, with Citigroup setting a target of $831.00, reflecting a positive outlook from multiple research firms.

Comerica Bank reduced its position in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 4.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 53,251 shares of the industrial products company's stock after selling 2,597 shares during the period. Comerica Bank's holdings in Parker-Hannifin were worth $32,368,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of PH. Mpwm Advisory Solutions LLC acquired a new position in Parker-Hannifin in the 4th quarter worth about $32,000. Olde Wealth Management LLC acquired a new position in Parker-Hannifin in the 1st quarter worth about $35,000. Chilton Capital Management LLC boosted its stake in shares of 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 worth $39,000 after acquiring an additional 60 shares in the last quarter. Accent Capital Management LLC bought a new stake in shares of Parker-Hannifin during the 1st quarter worth about $41,000. Finally, Sierra Ocean LLC boosted its stake in shares of Parker-Hannifin by 89.5% during the 1st quarter. Sierra Ocean LLC now owns 72 shares of the industrial products company's stock worth $44,000 after acquiring an additional 34 shares in the last quarter. 82.44% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, COO Andrew D. Ross sold 4,361 shares of the stock in a transaction that occurred 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. This represents a 24.95% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Robert W. Malone sold 2,257 shares of the stock in a transaction that occurred 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 9,414 shares of company stock worth $6,883,931 in the last 90 days. 0.39% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently issued reports on PH. Citigroup reiterated a "buy" rating and set a $831.00 price target (up previously from $709.00) on shares of Parker-Hannifin in a research note on Monday, July 14th. Barclays increased their target price on Parker-Hannifin from $750.00 to $776.00 and gave the company an "overweight" rating in a research note on Friday, August 8th. Wells Fargo & Company increased their target price on Parker-Hannifin from $770.00 to $800.00 and gave the company an "overweight" rating in a research note on Friday, August 8th. Stifel Nicolaus increased their target price on Parker-Hannifin from $717.00 to $726.00 and gave the company a "hold" rating in a research note on Friday, August 8th. Finally, Raymond James Financial increased their target price on Parker-Hannifin from $735.00 to $845.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. Fourteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $768.71.

Parker-Hannifin Price Performance

Shares of PH stock opened at $752.3780 on Monday. The stock has a 50 day moving average of $713.04 and a two-hundred day moving average of $660.24. 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 company has a market capitalization of $96.14 billion, a P/E ratio of 27.74, a P/E/G ratio of 3.12 and a beta of 1.37.

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, topping analysts' consensus estimates of $7.08 by $0.61. Parker-Hannifin had a return on equity of 26.80% and a net margin of 17.79%.The business had revenue of $5.24 billion during the quarter, compared to analysts' expectations of $5.10 billion. During the same period in the prior year, the firm posted $6.77 EPS. Parker-Hannifin'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. As a group, equities analysts expect that Parker-Hannifin Corporation will post 26.71 EPS for the current year.

Parker-Hannifin Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Tuesday, September 2nd will be issued a $1.80 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $7.20 dividend on an annualized basis and a dividend yield of 1.0%. Parker-Hannifin's dividend payout ratio is presently 26.55%.

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.

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