HB Wealth Management LLC Cuts Stock Position in Parker-Hannifin Corporation $PH

Key Points

• HB Wealth Management LLC reduced its stake in Parker-Hannifin Corporation by 13.1% during Q2, selling 1,167 shares, leaving them with 7,756 shares valued at approximately $5.4 million.
• Parker-Hannifin reported earnings of $7.69 per share for the last quarter, exceeding estimates by $0.61 and showing a 1.1% year-over-year revenue increase.
• The company announced a quarterly dividend of $1.80 per share, yielding 0.9%, with a payout ratio of 26.55%.

HB Wealth Management LLC lessened its holdings in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 13.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,756 shares of the industrial products company's stock after selling 1,167 shares during the period. HB Wealth Management LLC's holdings in Parker-Hannifin were worth $5,418,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in PH. Wealth Preservation Advisors LLC purchased a new position in shares of Parker-Hannifin in the 1st quarter valued at $27,000. Saudi Central Bank purchased a new position in shares of Parker-Hannifin in the 1st quarter valued at $31,000. Olde Wealth Management LLC purchased a new position in shares of Parker-Hannifin in the 1st quarter valued at $35,000. Chilton Capital Management LLC raised its stake in shares of Parker-Hannifin by 1,500.0% in the 1st quarter. Chilton Capital Management LLC now owns 64 shares of the industrial products company's stock valued at $39,000 after acquiring an additional 60 shares during the period. Finally, Accent Capital Management LLC purchased a new position in shares of Parker-Hannifin in the 1st quarter valued at $41,000. Hedge funds and other institutional investors own 82.44% of the company's stock.

Parker-Hannifin Stock Performance

Shares of Parker-Hannifin stock opened at $758.25 on Wednesday. The firm has a market cap of $95.95 billion, a PE ratio of 27.96, a price-to-earnings-growth ratio of 3.12 and a beta of 1.35. The firm's 50-day simple moving average is $745.86 and its 200-day simple moving average is $678.86. 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 1 year low of $488.45 and a 1 year high of $779.77.

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 (EPS) for the quarter, beating analysts' consensus estimates of $7.08 by $0.61. The business had revenue of $5.24 billion for the quarter, compared to analyst estimates 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 for the quarter was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $6.77 EPS. Parker-Hannifin has set its FY 2026 guidance at 28.400-29.400 EPS. Equities analysts forecast that Parker-Hannifin Corporation will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Tuesday, September 2nd were given a dividend of $1.80 per share. This represents a $7.20 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Tuesday, September 2nd. Parker-Hannifin's dividend payout ratio is currently 26.55%.

Insider Buying and Selling at Parker-Hannifin

In related news, COO Andrew D. Ross sold 4,361 shares of the business's stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $732.66, for a total transaction of $3,195,130.26. Following the completion of the sale, the chief operating officer owned 13,120 shares of the company's stock, valued at $9,612,499.20. This represents a 24.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Angela R. Ives sold 810 shares of the business's stock in a transaction dated Friday, August 8th. The shares were 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 of the company's stock, valued at approximately $2,035,153.28. This represents a 22.45% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,039 shares of company stock worth $10,356,566. 0.32% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have recently commented on PH shares. Citigroup reissued a "buy" rating and issued a $831.00 target price (up previously from $709.00) on shares of Parker-Hannifin in a research note on Monday, July 14th. Raymond James Financial lifted their price target on shares of Parker-Hannifin from $735.00 to $845.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. Stifel Nicolaus lifted their price target on shares of Parker-Hannifin from $717.00 to $726.00 and gave the stock a "hold" rating in a research note on Friday, August 8th. Barclays lifted their price target on shares of Parker-Hannifin from $750.00 to $776.00 and gave the stock an "overweight" rating in a research note on Friday, August 8th. Finally, Wall Street Zen raised shares of Parker-Hannifin from a "hold" rating to a "buy" rating in a research note on Saturday, September 20th. Thirteen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, Parker-Hannifin currently has an average rating of "Moderate Buy" and a consensus price target of $770.94.

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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