Gabelli Funds LLC Sells 1,895 Shares of Parker-Hannifin Corporation $PH

Key Points

• Gabelli Funds LLC reduced its stake in Parker-Hannifin Corporation by 16.0%, holding 9,930 shares worth approximately $6.04 million after the reduction.
• Multiple institutional investors have increased their holdings in Parker-Hannifin, with Ceredex Value Advisors LLC raising its stake by 65.9% during the same quarter.
• Parker-Hannifin reported earnings of $7.69 per share, surpassing analysts' expectations, and provided guidance for FY 2026 set between $28.400 to $29.400 EPS.

Gabelli Funds LLC lowered its stake in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 16.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,930 shares of the industrial products company's stock after selling 1,895 shares during the quarter. Gabelli Funds LLC's holdings in Parker-Hannifin were worth $6,036,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of PH. Ceredex Value Advisors LLC lifted its stake in shares of Parker-Hannifin by 65.9% in the 1st quarter. Ceredex Value Advisors LLC now owns 125,493 shares of the industrial products company's stock valued at $76,281,000 after purchasing an additional 49,828 shares in the last quarter. Harvest Portfolios Group Inc. raised its stake in shares of Parker-Hannifin by 16.6% in the 1st quarter. Harvest Portfolios Group Inc. now owns 2,822 shares of the industrial products company's stock valued at $1,715,000 after acquiring an additional 402 shares during the period. Tandem Wealth Advisors LLC raised its stake in shares of Parker-Hannifin by 6.2% in the 1st quarter. Tandem Wealth Advisors LLC now owns 562 shares of the industrial products company's stock valued at $342,000 after acquiring an additional 33 shares during the period. Synovus Financial Corp lifted its holdings in shares of Parker-Hannifin by 10.4% during the 1st quarter. Synovus Financial Corp now owns 3,569 shares of the industrial products company's stock valued at $2,170,000 after acquiring an additional 335 shares in the last quarter. Finally, ICONIQ Capital LLC boosted its position in Parker-Hannifin by 59.3% during the 1st quarter. ICONIQ Capital LLC now owns 637 shares of the industrial products company's stock worth $387,000 after purchasing an additional 237 shares during the period. 82.44% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, VP Angela R. Ives sold 810 shares of the stock in a transaction that occurred on Friday, August 8th. The stock was 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 represents a 22.45% decrease in their position. The transaction was disclosed in a legal 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 dated 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 approximately $10,420,157.52. The trade was a 25.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 14,039 shares of company stock valued at $10,356,566 in the last ninety days. 0.39% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have commented on PH. Morgan Stanley raised their price objective on Parker-Hannifin from $700.00 to $725.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 9th. Argus set a $680.00 target price on Parker-Hannifin in a report on Tuesday, May 6th. KeyCorp boosted their price target on Parker-Hannifin from $790.00 to $810.00 and gave the stock an "overweight" rating in a research report on Friday, August 8th. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of Parker-Hannifin in a report on Friday, August 8th. Finally, Wells Fargo & Company lifted their price objective on shares of Parker-Hannifin from $770.00 to $800.00 and gave the company an "overweight" rating in a research note on Friday, August 8th. Fourteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $768.71.

Parker-Hannifin Price Performance

NYSE:PH traded down $7.89 during mid-day trading on Tuesday, reaching $749.67. 298,968 shares of the stock were exchanged, compared to its average volume of 748,220. The firm has a market capitalization of $95.79 billion, a PE ratio of 27.62, a PEG ratio of 3.15 and a beta of 1.35. Parker-Hannifin Corporation has a 1-year low of $488.45 and a 1-year high of $773.30. The business has a fifty day moving average price of $725.67 and a 200 day moving average price of $663.37. The company has a current ratio of 1.19, a quick ratio of 0.71 and a debt-to-equity ratio of 0.55.

Parker-Hannifin (NYSE:PH - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The industrial products company reported $7.69 earnings per share (EPS) 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 return on equity of 26.80% and a net margin of 17.79%.The business's revenue for the quarter was up 1.1% on a year-over-year basis. During the same period in the prior year, the business earned $6.77 EPS. Parker-Hannifin has set its FY 2026 guidance at 28.400-29.400 EPS. Research analysts expect that Parker-Hannifin Corporation will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Tuesday, September 2nd will be paid a $1.80 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $7.20 annualized dividend and a yield of 1.0%. Parker-Hannifin's payout ratio is currently 26.55%.

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.