EFG Asset Management North America Corp. Sells 621 Shares of Parker-Hannifin Corporation $PH

Key Points

• EFG Asset Management North America Corp. has reduced its position in Parker-Hannifin Corporation by 13.9%, leaving it with 3,858 shares valued at approximately $2.35 million.
• Parker-Hannifin recently declared a quarterly dividend of $1.80 per share, which will be paid on September 12th, representing an annualized yield of 1.0%.
• The company reported earnings of $7.69 per share for the last quarter, exceeding analysts' expectations and showcasing a revenue increase of 1.1% year-over-year.

EFG Asset Management North America Corp. cut its holdings in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 13.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,858 shares of the industrial products company's stock after selling 621 shares during the quarter. EFG Asset Management North America Corp.'s holdings in Parker-Hannifin were worth $2,345,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Wealth Preservation Advisors LLC purchased a new stake in shares of Parker-Hannifin in the first quarter valued at approximately $27,000. Saudi Central Bank acquired a new position in Parker-Hannifin during the first quarter worth $31,000. Mpwm Advisory Solutions LLC acquired a new position in Parker-Hannifin during the fourth quarter worth $32,000. Olde Wealth Management LLC acquired a new position in Parker-Hannifin during the first quarter worth $35,000. Finally, Chilton Capital Management LLC raised its holdings in 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 purchasing an additional 60 shares during the last quarter. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Parker-Hannifin Trading Up 1.4%

NYSE:PH traded up $10.94 on Wednesday, hitting $766.18. 185,329 shares of the stock were exchanged, compared to its average volume of 738,057. Parker-Hannifin Corporation has a fifty-two week low of $488.45 and a fifty-two week high of $773.30. The stock has a fifty day moving average of $733.31 and a 200-day moving average of $666.19. The company has a current ratio of 1.19, a quick ratio of 0.71 and a debt-to-equity ratio of 0.55. The stock has a market cap of $97.90 billion, a PE ratio of 28.26, a PEG ratio of 3.15 and a beta of 1.35.

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 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 return on equity of 26.80% and a net margin of 17.79%.The company's revenue was up 1.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $6.77 earnings per share. 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 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The company also recently declared 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 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 26.55%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Raymond James Financial lifted their price objective on Parker-Hannifin from $735.00 to $845.00 and gave the stock an "outperform" rating in a report on Friday, August 8th. Cowen reaffirmed a "hold" rating on shares of Parker-Hannifin in a report on Friday, August 29th. Wall Street Zen cut Parker-Hannifin from a "buy" rating to a "hold" rating in a report on Sunday. Evercore ISI reaffirmed an "outperform" rating on shares of Parker-Hannifin in a report on Tuesday, August 19th. Finally, Susquehanna assumed coverage on Parker-Hannifin in a report on Friday, August 15th. They set a "positive" rating and a $860.00 price objective for the company. Thirteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $770.94.

Insider Activity at Parker-Hannifin

In other news, EVP Joseph R. Leonti sold 4,625 shares of the firm's stock in a transaction on Monday, August 25th. The stock was sold at an average price of $750.84, for a total value of $3,472,635.00. Following the completion of the sale, the executive vice president owned 13,878 shares of the company's stock, valued at $10,420,157.52. This trade represents a 25.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Thomas C. Gentile sold 1,133 shares of the stock in a transaction on Friday, August 8th. The stock was sold at an average price of $729.50, for a total value of $826,523.50. Following the sale, the vice president owned 5,465 shares of the company's stock, valued at approximately $3,986,717.50. This represents a 17.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 14,039 shares of company stock worth $10,356,566 in the last quarter. Company insiders own 0.39% of the company's stock.

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.