Marks Group Wealth Management Inc Sells 537 Shares of Parker-Hannifin Corporation $PH

Key Points

• Marks Group Wealth Management Inc reduced its stake in Parker-Hannifin by 3.7%, selling 537 shares, and now holds 14,092 shares valued at approximately $9.84 million.
• Parker-Hannifin announced a quarterly dividend of $1.80, yielding 0.9%, with a payout ratio of 26.55%.
• Analysts are optimistic about Parker-Hannifin’s stock, with price targets raised, and a consensus rating of "Moderate Buy".

Marks Group Wealth Management Inc cut its holdings in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 3.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,092 shares of the industrial products company's stock after selling 537 shares during the period. Parker-Hannifin makes up approximately 0.9% of Marks Group Wealth Management Inc's portfolio, making the stock its 20th biggest position. Marks Group Wealth Management Inc's holdings in Parker-Hannifin were worth $9,843,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Running Oak Capital LLC raised its position in shares of Parker-Hannifin by 0.8% in the 2nd quarter. Running Oak Capital LLC now owns 25,456 shares of the industrial products company's stock worth $17,780,000 after acquiring an additional 193 shares in the last quarter. Three Bridge Wealth Advisors LLC bought a new position in shares of Parker-Hannifin in the 2nd quarter worth about $316,000. Beacon Financial Advisory LLC bought a new position in shares of Parker-Hannifin in the 2nd quarter worth about $610,000. OLD National Bancorp IN raised its position in shares of Parker-Hannifin by 3.2% in the 2nd quarter. OLD National Bancorp IN now owns 618 shares of the industrial products company's stock worth $432,000 after acquiring an additional 19 shares in the last quarter. Finally, Checchi Capital Advisers LLC raised its position in shares of Parker-Hannifin by 5.4% in the 2nd quarter. Checchi Capital Advisers LLC now owns 1,456 shares of the industrial products company's stock worth $1,017,000 after acquiring an additional 74 shares in the last quarter. 82.44% of the stock is owned by institutional investors.

Insider Transactions at Parker-Hannifin

In other news, VP Robert W. Malone sold 2,257 shares of the business's stock in a transaction that occurred on Friday, August 8th. The stock was 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. The trade was a 27.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Joseph R. Leonti sold 4,625 shares of the business's stock in a transaction that occurred 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 owned 13,878 shares in the company, valued at $10,420,157.52. The trade was a 25.00% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 14,039 shares of company stock worth $10,356,566. 0.32% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts have recently weighed in on PH shares. Citigroup reissued a "buy" rating and issued a $831.00 price objective (up from $709.00) on shares of Parker-Hannifin in a research report on Monday, July 14th. Stifel Nicolaus raised their target price on Parker-Hannifin from $717.00 to $726.00 and gave the company a "hold" rating in a research note on Friday, August 8th. Morgan Stanley raised their target price on Parker-Hannifin from $700.00 to $725.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 9th. Raymond James Financial raised their target price on Parker-Hannifin from $735.00 to $845.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. Finally, Wall Street Zen upgraded Parker-Hannifin from a "hold" rating to a "buy" rating in a research note on Saturday, September 20th. Fourteen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $771.44.

Parker-Hannifin Price Performance

PH stock opened at $763.72 on Monday. The company has a market capitalization of $96.64 billion, a P/E ratio of 28.16, a price-to-earnings-growth ratio of 3.16 and a beta of 1.35. 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 52-week low of $488.45 and a 52-week high of $779.77. The business has a 50-day simple moving average of $747.47 and a two-hundred day simple moving average of $682.10.

Parker-Hannifin (NYSE:PH - Get Free Report) last released its quarterly 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 during the quarter, compared to the consensus estimate of $5.10 billion. Parker-Hannifin had a return on equity of 26.80% and a net margin of 17.79%.The company's quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $6.77 EPS. Parker-Hannifin has set its FY 2026 guidance at 28.400-29.400 EPS. Research analysts expect that Parker-Hannifin Corporation will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

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

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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