Mattern Capital Management LLC Has $8.06 Million Stake in Parker-Hannifin Corporation $PH

Key Points

• Mattern Capital Management LLC increased its stake in Parker-Hannifin Corporation by 3.9% in Q2, bringing its total holdings to approximately $8.06 million.
• Parker-Hannifin reported earnings of $7.69 per share, exceeding expectations, with a quarterly revenue of $5.24 billion, up 1.1% year-over-year.
• Thirteen investment analysts currently rate Parker-Hannifin as a Buy, with an average target price of $771.44.

Mattern Capital Management LLC raised its holdings in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 3.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,532 shares of the industrial products company's stock after acquiring an additional 433 shares during the period. Mattern Capital Management LLC's holdings in Parker-Hannifin were worth $8,055,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Hilltop National Bank acquired a new position in shares of Parker-Hannifin during the second quarter worth about $742,000. Tower View Wealth Management LLC boosted its position in shares of Parker-Hannifin by 2.0% during the second quarter. Tower View Wealth Management LLC now owns 5,588 shares of the industrial products company's stock worth $3,903,000 after buying an additional 112 shares during the period. ASR Vermogensbeheer N.V. boosted its position in shares of Parker-Hannifin by 3.6% during the second quarter. ASR Vermogensbeheer N.V. now owns 28,921 shares of the industrial products company's stock worth $20,199,000 after buying an additional 995 shares during the period. Naples Global Advisors LLC boosted its position in shares of Parker-Hannifin by 14.0% during the second quarter. Naples Global Advisors LLC now owns 2,553 shares of the industrial products company's stock worth $1,783,000 after buying an additional 313 shares during the period. Finally, Parsons Capital Management Inc. RI boosted its position in shares of Parker-Hannifin by 1.7% during the second quarter. Parsons Capital Management Inc. RI now owns 7,363 shares of the industrial products company's stock worth $5,143,000 after buying an additional 124 shares during the period. 82.44% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

PH has been the subject of several recent research reports. Stifel Nicolaus upped their price objective on Parker-Hannifin from $717.00 to $726.00 and gave the stock a "hold" rating in a research report 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 report on Friday, August 8th. Cowen reaffirmed a "hold" rating on shares of Parker-Hannifin in a research report on Friday, August 29th. KeyCorp upped their target price on Parker-Hannifin from $790.00 to $810.00 and gave the stock an "overweight" rating in a report on Friday, August 8th. Finally, Citigroup reiterated a "buy" rating and set a $831.00 target price (up previously from $709.00) on shares of Parker-Hannifin in a 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 company's stock. According to data from MarketBeat.com, Parker-Hannifin currently has an average rating of "Moderate Buy" and an average price target of $771.44.

Parker-Hannifin Stock Performance

PH opened at $757.70 on Friday. 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 business's 50-day simple moving average is $746.95 and its 200 day simple moving average is $680.32. The firm has a market capitalization of $95.88 billion, a PE ratio of 27.94, a PEG ratio of 3.13 and a beta of 1.35. Parker-Hannifin Corporation has a 52-week low of $488.45 and a 52-week high of $779.77.

Parker-Hannifin (NYSE:PH - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The industrial products company reported $7.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.08 by $0.61. The firm had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.10 billion. Parker-Hannifin had a return on equity of 26.80% and a net margin of 17.79%.The business's revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $6.77 earnings per share. Parker-Hannifin has set its FY 2026 guidance at 28.400-29.400 EPS. As a group, sell-side analysts expect that Parker-Hannifin Corporation will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

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

Insider Transactions at Parker-Hannifin

In other Parker-Hannifin news, COO Andrew D. Ross sold 4,361 shares of the company's stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $732.66, for a total value of $3,195,130.26. Following the sale, the chief operating officer owned 13,120 shares in the company, valued at $9,612,499.20. This represents a 24.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Robert W. Malone sold 2,257 shares of the company's stock in a transaction that occurred 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 completion of the sale, the vice president owned 5,866 shares in the company, valued at $4,286,051.56. This represents a 27.79% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 14,039 shares of company stock valued at $10,356,566. Company insiders own 0.32% of the company's stock.

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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