Concentric Capital Strategies LP Sells 1,670 Shares of Parker-Hannifin Corporation $PH

Key Points

• Concentric Capital Strategies LP reduced its holdings in Parker-Hannifin Corporation by 6.8%, selling 1,670 shares, which now represents 1.3% of its investment portfolio valued at approximately $13.8 million.
• Several major investors, including Vanguard Group and Price T Rowe Associates, have recently increased their stakes in Parker-Hannifin, highlighting strong interest from institutional investors, with 82.44% of the stock owned by them.
• Parker-Hannifin reported better-than-expected earnings of $7.69 per share for the last quarter, with revenue increasing by 1.1% year-over-year, while also announcing a quarterly dividend of $1.80 per share.

Concentric Capital Strategies LP reduced its position in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 6.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,735 shares of the industrial products company's stock after selling 1,670 shares during the period. Parker-Hannifin makes up approximately 1.3% of Concentric Capital Strategies LP's investment portfolio, making the stock its 13th biggest position. Concentric Capital Strategies LP's holdings in Parker-Hannifin were worth $13,819,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in PH. Wealth Preservation Advisors LLC acquired a new position in Parker-Hannifin during the first quarter valued at approximately $27,000. Saudi Central Bank acquired a new position in Parker-Hannifin during the first quarter valued at approximately $31,000. Mpwm Advisory Solutions LLC acquired a new position in shares of Parker-Hannifin during the fourth quarter worth $32,000. Olde Wealth Management LLC acquired a new position in shares of Parker-Hannifin during the first quarter worth $35,000. Finally, Chilton Capital Management LLC increased its holdings in shares of Parker-Hannifin by 1,500.0% during the first quarter. Chilton Capital Management LLC now owns 64 shares of the industrial products company's stock worth $39,000 after buying an additional 60 shares in the last quarter. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Parker-Hannifin Trading Up 0.2%

Shares of Parker-Hannifin stock traded up $1.67 during trading on Friday, hitting $758.63. The company's stock had a trading volume of 520,224 shares, compared to its average volume of 616,179. 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 52 week low of $488.45 and a 52 week high of $773.30. The stock has a market cap of $96.94 billion, a price-to-earnings ratio of 27.97, a price-to-earnings-growth ratio of 3.14 and a beta of 1.35. The stock has a 50-day moving average price of $731.05 and a two-hundred day moving average price of $665.13.

Parker-Hannifin (NYSE:PH - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The industrial products company reported $7.69 earnings per share 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 company had revenue of $5.24 billion for the quarter, compared to analysts' expectations of $5.10 billion. During the same quarter in the previous year, the firm posted $6.77 earnings per share. Parker-Hannifin's revenue for the quarter was up 1.1% on a year-over-year basis. Parker-Hannifin has set its FY 2026 guidance at 28.400-29.400 EPS. Equities research analysts anticipate that Parker-Hannifin Corporation will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

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

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on PH shares. Wall Street Zen downgraded shares of Parker-Hannifin from a "buy" rating to a "hold" rating in a report on Sunday. Morgan Stanley upped their price target on shares of Parker-Hannifin from $700.00 to $725.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 9th. Stifel Nicolaus upped their price target on shares of Parker-Hannifin from $717.00 to $726.00 and gave the stock a "hold" rating in a report on Friday, August 8th. Mizuho set a $785.00 price target on shares of Parker-Hannifin in a report on Friday, May 16th. Finally, KeyCorp upped their price target on shares of Parker-Hannifin from $790.00 to $810.00 and gave the stock an "overweight" rating in a report on Friday, August 8th. Thirteen research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, Parker-Hannifin has an average rating of "Moderate Buy" and an average target price of $770.94.

Insider Buying and Selling at Parker-Hannifin

In other Parker-Hannifin news, VP Matthew A. Jacobson sold 575 shares of the company's stock in a transaction on Friday, August 8th. The shares were sold at an average price of $733.06, for a total transaction of $421,509.50. Following the sale, the vice president owned 1,000 shares of the company's stock, valued at approximately $733,060. This represents a 36.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Angela R. Ives sold 810 shares of the company's stock in a transaction on Friday, August 8th. The shares were sold at an average price of $727.36, for a total transaction of $589,161.60. Following 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. In the last ninety days, insiders have sold 14,039 shares of company stock valued at $10,356,566. 0.39% of the stock is owned by corporate 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.