Lansforsakringar Fondforvaltning AB publ Cuts Stake in Parker-Hannifin Corporation $PH

Key Points

• Lansforsakringar Fondforvaltning AB reduced its stake in Parker-Hannifin Corporation by 3.9%, selling 1,927 shares to hold 47,736 shares valued at approximately $29 million.
• Insider sales at Parker-Hannifin included COO Andrew D. Ross selling 4,361 shares and EVP Joseph R. Leonti selling 4,625 shares, representing declines in their respective positions by 24.95% and 25.00%.
• Parker-Hannifin has announced a quarterly dividend of $1.80 per share, with a dividend yield of 0.9%, to be paid on September 12th.

Lansforsakringar Fondforvaltning AB publ cut its holdings in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 3.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,736 shares of the industrial products company's stock after selling 1,927 shares during the quarter. Lansforsakringar Fondforvaltning AB publ's holdings in Parker-Hannifin were worth $29,016,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in Parker-Hannifin by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 11,023,764 shares of the industrial products company's stock valued at $6,700,795,000 after acquiring an additional 168,990 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Parker-Hannifin by 52.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,443,104 shares of the industrial products company's stock valued at $1,485,042,000 after acquiring an additional 842,262 shares in the last quarter. Royal Bank of Canada lifted its position in Parker-Hannifin by 99.8% in the 4th quarter. Royal Bank of Canada now owns 2,277,001 shares of the industrial products company's stock valued at $1,448,241,000 after acquiring an additional 1,137,564 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in Parker-Hannifin by 9.3% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,016,091 shares of the industrial products company's stock valued at $1,282,294,000 after acquiring an additional 172,064 shares in the last quarter. Finally, Wellington Management Group LLP raised its stake in Parker-Hannifin by 11.6% during the 1st quarter. Wellington Management Group LLP now owns 2,009,250 shares of the industrial products company's stock valued at $1,221,323,000 after buying an additional 208,573 shares during the last quarter. 82.44% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Argus set a $680.00 target price on shares of Parker-Hannifin in a research note on Tuesday, May 6th. KeyCorp upped their price objective on Parker-Hannifin from $790.00 to $810.00 and gave the stock an "overweight" rating in a research note on Friday, August 8th. Barclays upped their price objective on Parker-Hannifin from $750.00 to $776.00 and gave the stock an "overweight" rating in a research note on Friday, August 8th. Wells Fargo & Company upped their price objective on Parker-Hannifin from $770.00 to $800.00 and gave the stock an "overweight" rating in a research note on Friday, August 8th. Finally, Cowen restated a "hold" rating on shares of Parker-Hannifin in a research note on Friday. Fourteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, Parker-Hannifin has a consensus rating of "Moderate Buy" and a consensus price target of $768.71.

Parker-Hannifin Trading Down 1.0%

NYSE PH traded down $7.35 during trading on Tuesday, hitting $750.20. The stock had a trading volume of 335,503 shares, compared to its average volume of 748,519. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.71 and a current ratio of 1.19. The stock has a market capitalization of $95.86 billion, a price-to-earnings ratio of 27.66, a P/E/G ratio of 3.15 and a beta of 1.35. Parker-Hannifin Corporation has a one year low of $488.45 and a one year high of $773.30. The stock has a 50 day simple moving average of $725.67 and a 200 day simple moving average of $663.37.

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 business had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.10 billion. Parker-Hannifin had a net margin of 17.79% and a return on equity of 26.80%. The firm's quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter last year, the firm earned $6.77 earnings per share. Parker-Hannifin has set its FY 2026 guidance at 28.400-29.400 EPS. Sell-side analysts predict that Parker-Hannifin Corporation will post 26.71 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The business also recently announced 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 of this dividend is Tuesday, September 2nd. This represents a $7.20 dividend on an annualized basis and a dividend yield of 1.0%. Parker-Hannifin's dividend payout ratio (DPR) is 26.55%.

Insider Activity at Parker-Hannifin

In related news, VP Thomas C. Gentile sold 1,133 shares of Parker-Hannifin stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $729.50, for a total transaction of $826,523.50. Following the transaction, the vice president directly owned 5,465 shares of the company's stock, valued at $3,986,717.50. This trade represents a 17.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Angela R. Ives sold 810 shares of Parker-Hannifin stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $727.36, for a total transaction of $589,161.60. Following the transaction, the vice president directly owned 2,798 shares in the company, valued at approximately $2,035,153.28. The trade was a 22.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 14,039 shares of company stock valued at $10,356,566 over the last quarter. 0.39% of the stock is owned by insiders.

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.