IFM Investors Pty Ltd boosted its holdings in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 6.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,331 shares of the industrial products company's stock after buying an additional 1,536 shares during the period. IFM Investors Pty Ltd's holdings in Parker-Hannifin were worth $16,994,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently made changes to their positions in the company. Grove Bank & Trust lifted its holdings in shares of Parker-Hannifin by 19.8% during the 2nd quarter. Grove Bank & Trust now owns 194 shares of the industrial products company's stock worth $136,000 after acquiring an additional 32 shares during the last quarter. Trust Point Inc. lifted its holdings in shares of Parker-Hannifin by 116.9% during the 2nd quarter. Trust Point Inc. now owns 731 shares of the industrial products company's stock worth $511,000 after acquiring an additional 394 shares during the last quarter. Ferguson Wellman Capital Management Inc. lifted its holdings in shares of Parker-Hannifin by 3.9% during the 2nd quarter. Ferguson Wellman Capital Management Inc. now owns 168,828 shares of the industrial products company's stock worth $117,921,000 after acquiring an additional 6,374 shares during the last quarter. Exchange Traded Concepts LLC lifted its holdings in shares of Parker-Hannifin by 13.3% during the 2nd quarter. Exchange Traded Concepts LLC now owns 5,746 shares of the industrial products company's stock worth $4,013,000 after acquiring an additional 674 shares during the last quarter. Finally, Marshall Financial Group LLC bought a new stake in shares of Parker-Hannifin during the 2nd quarter worth $981,000. 82.44% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity
In related news, VP Robert W. Malone sold 2,257 shares of Parker-Hannifin stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $730.66, for a total transaction of $1,649,099.62. Following the completion of the transaction, the vice president directly owned 5,866 shares of the company's stock, valued at approximately $4,286,051.56. The trade was a 27.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through 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 transaction of $3,472,635.00. Following the transaction, the executive vice president directly owned 13,878 shares of the company's stock, valued at approximately $10,420,157.52. This represents a 25.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,039 shares of company stock worth $10,356,566. 0.39% of the stock is currently owned by insiders.
Parker-Hannifin Stock Up 0.4%
Shares of PH stock traded up $3.00 during trading hours on Tuesday, hitting $762.95. 122,557 shares of the company's stock traded hands, compared to its average volume of 733,281. The stock has a market cap of $97.49 billion, a price-to-earnings ratio of 28.11, a PEG ratio of 3.13 and a beta of 1.35. The stock's fifty day simple moving average is $741.46 and its two-hundred day simple moving average is $673.22. Parker-Hannifin Corporation has a 12-month low of $488.45 and a 12-month high of $779.77. The company has a quick ratio of 0.71, a current ratio of 1.19 and a debt-to-equity ratio of 0.55.
Parker-Hannifin (NYSE:PH - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The industrial products company reported $7.69 earnings per share for the quarter, beating analysts' consensus estimates of $7.08 by $0.61. Parker-Hannifin had a net margin of 17.79% and a return on equity of 26.80%. The company had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.10 billion. During the same quarter in the prior year, the firm earned $6.77 earnings per share. The firm's revenue for the quarter was up 1.1% compared to the same quarter last year. Parker-Hannifin has set its FY 2026 guidance at 28.400-29.400 EPS. On average, analysts expect that Parker-Hannifin Corporation will post 26.71 EPS for the current year.
Parker-Hannifin Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Tuesday, September 2nd were given a dividend of $1.80 per share. This represents a $7.20 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Tuesday, September 2nd. Parker-Hannifin's dividend payout ratio (DPR) is presently 26.55%.
Wall Street Analyst Weigh In
PH has been the subject of several recent research reports. Morgan Stanley boosted their price target on shares of Parker-Hannifin from $700.00 to $725.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 9th. Susquehanna assumed coverage on shares of Parker-Hannifin in a research report on Friday, August 15th. They issued a "positive" rating and a $860.00 price objective on the stock. Wall Street Zen upgraded shares of Parker-Hannifin from a "hold" rating to a "buy" rating in a research report on Saturday. Cowen restated a "hold" rating on shares of Parker-Hannifin in a research report on Friday, August 29th. Finally, Citigroup restated a "buy" rating and issued a $831.00 price objective (up previously from $709.00) on shares of Parker-Hannifin in a research report on Monday, July 14th. Thirteen investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, Parker-Hannifin has an average rating of "Moderate Buy" and a consensus price target of $770.94.
Check Out Our Latest Analysis on PH
Parker-Hannifin Company Profile
(
Free Report)
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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