Kanawha Capital Management LLC Decreases Stock Position in Parker-Hannifin Corporation $PH

Key Points

• Kanawha Capital Management LLC reduced its stake in Parker-Hannifin by 1.4%, owning 25,160 shares valued at approximately $17.57 million as of the latest reporting period.
• Insider trading occurred with notable sales: VP Angela R. Ives sold 810 shares and EVP Joseph R. Leonti sold 4,625 shares, indicating a decrease in their ownership positions.
• Parker-Hannifin has received mixed analyst ratings, with target prices ranging from $725 to $910, and a consensus rating of "Moderate Buy" according to the latest reports.

Kanawha Capital Management LLC lessened its stake in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 1.4% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 25,160 shares of the industrial products company's stock after selling 347 shares during the quarter. Parker-Hannifin comprises about 1.3% of Kanawha Capital Management LLC's holdings, making the stock its 22nd largest holding. Kanawha Capital Management LLC's holdings in Parker-Hannifin were worth $17,574,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Wealth Preservation Advisors LLC acquired a new position in shares of Parker-Hannifin in the 1st quarter valued at approximately $27,000. Interchange Capital Partners LLC acquired a new position in shares of Parker-Hannifin in the 2nd quarter valued at approximately $31,000. Saudi Central Bank acquired a new position in shares of Parker-Hannifin in the 1st quarter valued at approximately $31,000. Olde Wealth Management LLC acquired a new position in shares of Parker-Hannifin in the 1st quarter valued at approximately $35,000. Finally, Chilton Capital Management LLC raised its position 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 purchasing an additional 60 shares in the last quarter. 82.44% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Parker-Hannifin

In other news, VP Angela R. Ives sold 810 shares of the stock in a transaction on Friday, August 8th. The stock was sold at an average price of $727.36, for a total value of $589,161.60. Following the completion of the transaction, the vice president owned 2,798 shares of the company's stock, valued at approximately $2,035,153.28. This represents a 22.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Joseph R. Leonti sold 4,625 shares of the 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 transaction, the executive vice president directly 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 position. The disclosure for this sale can be found here. Insiders sold 14,039 shares of company stock valued at $10,356,566 over the last three months. 0.32% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on PH. Citigroup upped their target price on Parker-Hannifin from $831.00 to $874.00 and gave the company a "buy" rating in a research report on Thursday, October 9th. Morgan Stanley raised their price objective on Parker-Hannifin from $700.00 to $725.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 9th. Deutsche Bank Aktiengesellschaft cut Parker-Hannifin from a "buy" rating to a "hold" rating and set a $809.00 price objective on the stock. in a research note on Thursday, September 4th. Truist Financial raised their price objective on Parker-Hannifin from $822.00 to $910.00 and gave the stock a "buy" rating in a research note on Wednesday, October 8th. Finally, Cowen restated a "hold" rating on shares of Parker-Hannifin in a research note on Friday, August 29th. Fourteen analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, Parker-Hannifin presently has a consensus rating of "Moderate Buy" and an average target price of $789.83.

Parker-Hannifin Price Performance

Shares of NYSE PH opened at $734.26 on Friday. Parker-Hannifin Corporation has a 1-year low of $488.45 and a 1-year high of $779.77. 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's fifty day moving average price is $750.51 and its two-hundred day moving average price is $689.14. The firm has a market capitalization of $92.91 billion, a PE ratio of 27.07, a P/E/G ratio of 3.00 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. Parker-Hannifin had a return on equity of 26.80% and a net margin of 17.79%.The firm had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.10 billion. During the same period last year, the company earned $6.77 earnings per share. The firm's revenue for the quarter was up 1.1% on a year-over-year basis. Parker-Hannifin has set its FY 2026 guidance at 28.400-29.400 EPS. On average, research analysts expect that Parker-Hannifin Corporation will post 26.71 EPS for the current year.

Parker-Hannifin Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Tuesday, September 2nd were given a $1.80 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $7.20 annualized dividend and a yield of 1.0%. Parker-Hannifin's dividend payout ratio (DPR) is currently 26.55%.

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.

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