Logan Capital Management Inc. Sells 466 Shares of Parker-Hannifin Corporation $PH

Key Points

• Logan Capital Management Inc. has reduced its stake in Parker-Hannifin Corporation by 7% during the first quarter, bringing its total holdings to 6,202 shares valued at approximately $3.77 million.
• A majority of Parker-Hannifin's stock, approximately 82.44%, is owned by institutional investors, with several of them recently increasing their positions in the company during the same quarter.
• Parker-Hannifin recently announced a quarterly dividend of $1.80, representing an annualized yield of 1.0%, to be paid to investors of record on September 2nd.

Logan Capital Management Inc. cut its holdings in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 7.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,202 shares of the industrial products company's stock after selling 466 shares during the period. Logan Capital Management Inc.'s holdings in Parker-Hannifin were worth $3,770,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Cascade Financial Partners LLC lifted its holdings in shares of Parker-Hannifin by 3.1% in the first quarter. Cascade Financial Partners LLC now owns 498 shares of the industrial products company's stock worth $303,000 after buying an additional 15 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. boosted its holdings in Parker-Hannifin by 0.8% in the 1st quarter. Meiji Yasuda Asset Management Co Ltd. now owns 1,814 shares of the industrial products company's stock valued at $1,103,000 after purchasing an additional 15 shares during the period. Nicolet Advisory Services LLC boosted its holdings in Parker-Hannifin by 3.5% in the 1st quarter. Nicolet Advisory Services LLC now owns 468 shares of the industrial products company's stock valued at $262,000 after purchasing an additional 16 shares during the period. E Fund Management Co. Ltd. boosted its holdings in Parker-Hannifin by 5.0% in the 1st quarter. E Fund Management Co. Ltd. now owns 336 shares of the industrial products company's stock valued at $204,000 after purchasing an additional 16 shares during the period. Finally, Citizens National Bank Trust Department boosted its holdings in Parker-Hannifin by 8.5% in the 1st quarter. Citizens National Bank Trust Department now owns 217 shares of the industrial products company's stock valued at $132,000 after purchasing an additional 17 shares during the period. 82.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Wall Street Zen downgraded shares of Parker-Hannifin from a "buy" rating to a "hold" rating in a report on Sunday. KeyCorp raised their price target on shares of Parker-Hannifin from $790.00 to $810.00 and gave the company an "overweight" rating in a report on Friday, August 8th. Morgan Stanley raised their price target on shares of Parker-Hannifin from $700.00 to $725.00 and gave the company an "equal weight" rating in a report on Wednesday, July 9th. Stifel Nicolaus raised their price target on shares of Parker-Hannifin from $717.00 to $726.00 and gave the company a "hold" rating in a report on Friday, August 8th. Finally, Barclays raised their price target on shares of Parker-Hannifin from $750.00 to $776.00 and gave the company an "overweight" rating in a report on Friday, August 8th. Thirteen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $770.94.

Insider Buying and Selling

In related news, VP Robert W. Malone sold 2,257 shares of Parker-Hannifin stock in a transaction on Friday, August 8th. The shares were sold at an average price of $730.66, for a total value of $1,649,099.62. Following the transaction, the vice president owned 5,866 shares in the company, valued at $4,286,051.56. This trade represents a 27.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Angela R. Ives sold 810 shares of Parker-Hannifin stock in a transaction 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 completion of the transaction, the vice president owned 2,798 shares in the company, valued at approximately $2,035,153.28. The trade was a 22.45% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 14,039 shares of company stock worth $10,356,566 over the last 90 days. Insiders own 0.39% of the company's stock.

Parker-Hannifin Stock Down 0.6%

Shares of NYSE PH opened at $755.37 on Wednesday. Parker-Hannifin Corporation has a one year low of $488.45 and a one year high of $773.30. 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 firm's 50 day simple moving average is $733.31 and its two-hundred day simple moving average is $666.19. The stock has a market capitalization of $96.52 billion, a P/E ratio of 27.85, a PEG ratio of 3.15 and a beta of 1.35.

Parker-Hannifin (NYSE:PH - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The industrial products company reported $7.69 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 analysts' expectations of $5.10 billion. Parker-Hannifin had a net margin of 17.79% and a return on equity of 26.80%. The business's quarterly revenue was up 1.1% on a year-over-year basis. During the same period last year, the business earned $6.77 earnings per share. Parker-Hannifin has set its FY 2026 guidance at 28.400-29.400 EPS. As a group, analysts expect that Parker-Hannifin Corporation will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Tuesday, September 2nd will be given a $1.80 dividend. This represents a $7.20 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Tuesday, September 2nd. Parker-Hannifin's dividend payout ratio (DPR) is presently 26.55%.

About Parker-Hannifin

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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