DnB Asset Management AS Trims Stock Position in Parker-Hannifin Corporation $PH

Key Points

• DnB Asset Management AS reduced its stake in Parker-Hannifin Corporation by 1.0% in Q1, owning 59,762 shares valued at approximately $36.3 million.
• Key institutional investors raised their positions in Parker-Hannifin, with notable increases including Citizens National Bank Trust Department by 8.5% during the same period.
• Parker-Hannifin has recently been downgraded by Deutsche Bank from a "buy" to a "hold" rating, setting a price objective of $809.00 for the stock.

DnB Asset Management AS reduced its position in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 1.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 59,762 shares of the industrial products company's stock after selling 626 shares during the period. DnB Asset Management AS's holdings in Parker-Hannifin were worth $36,326,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in PH. Brighton Jones LLC lifted its position in shares of Parker-Hannifin by 5.9% during the fourth quarter. Brighton Jones LLC now owns 1,808 shares of the industrial products company's stock valued at $1,150,000 after purchasing an additional 101 shares in the last quarter. Bank Pictet & Cie Europe AG lifted its position in shares of Parker-Hannifin by 0.8% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 7,259 shares of the industrial products company's stock valued at $4,617,000 after purchasing an additional 55 shares in the last quarter. Bison Wealth LLC lifted its position in shares of Parker-Hannifin by 4.5% during the fourth quarter. Bison Wealth LLC now owns 749 shares of the industrial products company's stock valued at $476,000 after purchasing an additional 32 shares in the last quarter. Aptus Capital Advisors LLC lifted its position in shares of Parker-Hannifin by 10.6% during the fourth quarter. Aptus Capital Advisors LLC now owns 718 shares of the industrial products company's stock valued at $457,000 after purchasing an additional 69 shares in the last quarter. Finally, Benjamin Edwards Inc. lifted its position in shares of Parker-Hannifin by 4.2% during the fourth quarter. Benjamin Edwards Inc. now owns 4,105 shares of the industrial products company's stock valued at $2,611,000 after purchasing an additional 164 shares in the last quarter. 82.44% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PH. Deutsche Bank Aktiengesellschaft lowered 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. Wells Fargo & Company raised their price objective on shares of Parker-Hannifin from $770.00 to $800.00 and gave the stock an "overweight" rating in a report on Friday, August 8th. Raymond James Financial raised their price objective on shares of Parker-Hannifin from $735.00 to $845.00 and gave the stock an "outperform" rating in a report on Friday, August 8th. Citigroup restated a "buy" rating and set a $831.00 price objective (up previously from $709.00) on shares of Parker-Hannifin in a report on Monday, July 14th. Finally, Susquehanna began coverage on shares of Parker-Hannifin in a report on Friday, August 15th. They set a "positive" rating and a $860.00 price objective for the company. Thirteen equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, Parker-Hannifin has an average rating of "Moderate Buy" and an average price target of $770.94.

Insider Transactions at Parker-Hannifin

In other news, VP Thomas C. Gentile sold 1,133 shares of Parker-Hannifin stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $729.50, for a total value of $826,523.50. Following the completion of the transaction, the vice president owned 5,465 shares in the company, valued at $3,986,717.50. This trade represents a 17.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Angela R. Ives sold 810 shares of Parker-Hannifin stock in a transaction dated 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 transaction, the vice president owned 2,798 shares of the company's stock, valued at $2,035,153.28. The trade was a 22.45% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 14,039 shares of company stock valued at $10,356,566. 0.39% of the stock is currently owned by insiders.

Parker-Hannifin Stock Performance

Shares of PH traded up $1.67 during trading hours 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 market cap of $96.94 billion, a price-to-earnings ratio of 27.97, a PEG ratio of 3.14 and a beta of 1.35. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.19 and a quick ratio of 0.71. The business has a 50 day simple moving average of $731.05 and a two-hundred day simple moving average of $665.13. Parker-Hannifin Corporation has a 52-week low of $488.45 and a 52-week high of $773.30.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted its earnings results 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. The firm 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 revenue was up 1.1% on a year-over-year basis. During the same quarter last year, the company earned $6.77 earnings per share. Parker-Hannifin has set its FY 2026 guidance at 28.400-29.400 EPS. On average, equities analysts expect that Parker-Hannifin Corporation will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Tuesday, September 2nd will be paid a $1.80 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $7.20 annualized dividend and a dividend yield of 0.9%. Parker-Hannifin's dividend payout ratio (DPR) is presently 26.55%.

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.