Congress Asset Management Co. Has $133.51 Million Stock Holdings in Parker-Hannifin Corporation $PH

Key Points

• Congress Asset Management Co. decreased its position in Parker-Hannifin Corporation by 0.2% during Q2, holding 191,151 shares valued at approximately $133.51 million.
• Insiders have sold a total of 14,039 shares of Parker-Hannifin stock valued at over $10.3 million in the last three months, with key executives reporting significant decreases in their ownership.
• Parker-Hannifin's recent earnings topped estimates with a reported $7.69 earnings per share, and analysts have set a consensus target price of $770.94 for the stock.

Congress Asset Management Co. decreased its position in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 0.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 191,151 shares of the industrial products company's stock after selling 457 shares during the period. Parker-Hannifin comprises 0.9% of Congress Asset Management Co.'s holdings, making the stock its 29th largest holding. Congress Asset Management Co. owned approximately 0.15% of Parker-Hannifin worth $133,513,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Bank Pictet & Cie Europe AG boosted its position in shares of Parker-Hannifin by 3.6% during the 2nd quarter. Bank Pictet & Cie Europe AG now owns 6,910 shares of the industrial products company's stock worth $4,826,000 after acquiring an additional 242 shares in the last quarter. Perigon Wealth Management LLC boosted its position in Parker-Hannifin by 31.4% in the second quarter. Perigon Wealth Management LLC now owns 1,047 shares of the industrial products company's stock valued at $731,000 after buying an additional 250 shares in the last quarter. TigerOak Management L.L.C. acquired a new stake in Parker-Hannifin in the second quarter valued at approximately $205,000. Mather Group LLC. boosted its position in Parker-Hannifin by 1.2% in the second quarter. Mather Group LLC. now owns 2,775 shares of the industrial products company's stock valued at $1,939,000 after buying an additional 34 shares in the last quarter. Finally, Carr Financial Group Corp boosted its position in Parker-Hannifin by 2.5% in the second quarter. Carr Financial Group Corp now owns 1,155 shares of the industrial products company's stock valued at $807,000 after buying an additional 28 shares in the last quarter. Institutional investors and hedge funds own 82.44% of the company's stock.

Insider Buying and Selling at Parker-Hannifin

In related news, VP Angela R. Ives sold 810 shares of Parker-Hannifin 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 completion of the transaction, the vice president owned 2,798 shares of the company's stock, valued at $2,035,153.28. This trade represents a 22.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Joseph R. Leonti sold 4,625 shares of Parker-Hannifin stock in a transaction on Monday, August 25th. The stock was sold at an average price of $750.84, for a total transaction of $3,472,635.00. Following the transaction, the executive vice president directly owned 13,878 shares of the company's stock, valued at $10,420,157.52. This represents a 25.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 14,039 shares of company stock valued at $10,356,566 over the last three months. 0.39% of the stock is currently owned by corporate insiders.

Parker-Hannifin Price Performance

PH stock opened at $745.81 on Friday. The company has a fifty day moving average price of $743.73 and a 200-day moving average price of $675.30. The company has a market capitalization of $94.37 billion, a P/E ratio of 27.50, a PEG ratio of 3.10 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. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.71 and a current ratio of 1.19.

Parker-Hannifin (NYSE:PH - Get Free Report) last announced its earnings results on Thursday, August 7th. The industrial products company reported $7.69 earnings per share for the quarter, topping analysts' consensus estimates of $7.08 by $0.61. Parker-Hannifin had a net margin of 17.79% and a return on equity of 26.80%. The business had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.10 billion. During the same quarter last year, the firm earned $6.77 earnings per share. Parker-Hannifin's quarterly revenue was up 1.1% on a year-over-year basis. 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 company also recently announced a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Tuesday, September 2nd were paid a dividend of $1.80 per share. This represents a $7.20 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend was Tuesday, September 2nd. Parker-Hannifin's dividend payout ratio (DPR) is currently 26.55%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on PH shares. Barclays raised their target price on shares of Parker-Hannifin from $750.00 to $776.00 and gave the company an "overweight" rating in a research report on Friday, August 8th. Susquehanna started coverage on shares of Parker-Hannifin in a research report on Friday, August 15th. They issued a "positive" rating and a $860.00 target price on the stock. KeyCorp raised their target price on shares of Parker-Hannifin from $790.00 to $810.00 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 note on Friday, August 8th. Finally, Morgan Stanley raised their price target on shares of Parker-Hannifin from $700.00 to $725.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 9th. Thirteen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $770.94.

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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