Corebridge Financial Inc. Has $18.56 Million Stake in Parker-Hannifin Corporation $PH

Key Points

• Corebridge Financial Inc. has reduced its stake in Parker-Hannifin Corporation by 3.8%, now holding shares worth $18.56 million after selling 1,198 shares in the first quarter.
• Parker-Hannifin's recent quarterly earnings reported an EPS of $7.69, exceeding expectations and reflecting a 1.1% year-over-year revenue increase.
• The company announced a quarterly dividend of $1.80 per share, with an ex-dividend date of September 2nd, establishing a dividend yield of 1.0%.

Corebridge Financial Inc. reduced its stake in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 3.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 30,529 shares of the industrial products company's stock after selling 1,198 shares during the period. Corebridge Financial Inc.'s holdings in Parker-Hannifin were worth $18,557,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. First Manhattan CO. LLC. lifted its holdings in shares of Parker-Hannifin by 1.0% in the fourth quarter. First Manhattan CO. LLC. now owns 1,580 shares of the industrial products company's stock worth $1,005,000 after acquiring an additional 15 shares during the last quarter. Cascade Financial Partners LLC raised its holdings in Parker-Hannifin by 3.1% in the 1st quarter. Cascade Financial Partners LLC now owns 498 shares of the industrial products company's stock valued at $303,000 after buying an additional 15 shares during the last quarter. Becker Capital Management Inc. raised its holdings in Parker-Hannifin by 3.4% in the 4th quarter. Becker Capital Management Inc. now owns 482 shares of the industrial products company's stock valued at $307,000 after buying an additional 16 shares during the last quarter. Nicolet Advisory Services LLC raised its holdings in Parker-Hannifin by 3.5% in the 1st quarter. Nicolet Advisory Services LLC now owns 468 shares of the industrial products company's stock valued at $262,000 after buying an additional 16 shares during the last quarter. Finally, E Fund Management Co. Ltd. raised its holdings in Parker-Hannifin by 5.0% in the 1st quarter. E Fund Management Co. Ltd. now owns 336 shares of the industrial products company's stock valued at $204,000 after buying an additional 16 shares during the last quarter. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Parker-Hannifin

In other news, VP Angela R. Ives sold 810 shares of the firm's stock in a transaction that occurred 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 sale, 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 position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Andrew D. Ross sold 4,361 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $732.66, for a total transaction of $3,195,130.26. Following the sale, the chief operating officer directly owned 13,120 shares of the company's stock, valued at approximately $9,612,499.20. This trade represents a 24.95% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 9,414 shares of company stock worth $6,883,931. Corporate insiders own 0.39% of the company's stock.

Parker-Hannifin Stock Performance

NYSE:PH opened at $749.8910 on Tuesday. The company has a market capitalization of $95.82 billion, a PE ratio of 27.65, a P/E/G ratio of 3.12 and a beta of 1.37. The company has a 50 day simple moving average of $714.81 and a two-hundred day simple moving average of $660.70. 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 Corporation has a fifty-two week low of $488.45 and a fifty-two week high of $763.99.

Parker-Hannifin (NYSE:PH - Get Free Report) last announced its quarterly earnings data 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. The company had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.10 billion. Parker-Hannifin had a net margin of 17.79% and a return on equity of 26.80%. The company's quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter last year, the firm posted $6.77 EPS. Parker-Hannifin has set its FY 2026 guidance at 28.400-29.400 EPS. Research analysts anticipate that Parker-Hannifin Corporation will post 26.71 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Stockholders 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 annualized dividend and a dividend yield of 1.0%. Parker-Hannifin's dividend payout ratio (DPR) is 26.55%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on PH shares. Citigroup reiterated a "buy" rating and issued a $831.00 price objective (up previously from $709.00) on shares of Parker-Hannifin in a report on Monday, July 14th. Barclays raised their price objective on shares of Parker-Hannifin from $750.00 to $776.00 and gave the company an "overweight" rating in a report on Friday, August 8th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Parker-Hannifin in a report on Friday, August 8th. Evercore ISI reiterated an "outperform" rating on shares of Parker-Hannifin in a report on Tuesday, August 19th. Finally, Stifel Nicolaus raised their price objective on shares of Parker-Hannifin from $717.00 to $726.00 and gave the company a "hold" rating in a report on Friday, August 8th. Fourteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $768.71.

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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