Mirae Asset Global Investments Co. Ltd. Trims Stock Position in Parker-Hannifin Corporation $PH

Key Points

• Mirae Asset Global Investments reduced its stake in Parker-Hannifin by 6.6% in Q2, owning 16,915 shares worth $11.8 million after selling 1,187 shares.
• Parker-Hannifin reported $7.69 EPS for the latest quarter, exceeding analyst expectations, with revenue of $5.24 billion, and set FY 2026 guidance at 28.400-29.400 EPS.
• The company declared a quarterly dividend of $1.80 per share, contributing to an annualized dividend of $7.20 and a yield of 0.9%.

Mirae Asset Global Investments Co. Ltd. cut its stake in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 6.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,915 shares of the industrial products company's stock after selling 1,187 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Parker-Hannifin were worth $11,815,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Nuveen LLC acquired a new position in Parker-Hannifin in the first quarter valued at $933,089,000. Price T Rowe Associates Inc. MD increased 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 during the period. Wellington Management Group LLP increased its position in Parker-Hannifin by 11.6% in 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 acquiring an additional 208,573 shares during the period. Goldman Sachs Group Inc. increased its position in Parker-Hannifin by 23.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 996,738 shares of the industrial products company's stock valued at $605,867,000 after acquiring an additional 191,799 shares during the period. Finally, Vanguard Group Inc. increased 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 during the period. 82.44% of the stock is owned by hedge funds and other institutional investors.

Parker-Hannifin Price Performance

Shares of PH opened at $763.72 on Friday. The stock's 50 day moving average is $747.47 and its two-hundred day moving average is $681.70. The firm has a market capitalization of $96.64 billion, a PE ratio of 28.16, a P/E/G ratio of 3.16 and a beta of 1.35. The company has a current ratio of 1.19, a quick ratio of 0.71 and a debt-to-equity ratio of 0.55. Parker-Hannifin Corporation has a twelve month low of $488.45 and a twelve month high of $779.77.

Parker-Hannifin (NYSE:PH - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The industrial products company reported $7.69 EPS for the quarter, topping the consensus estimate of $7.08 by $0.61. The business 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 company's quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $6.77 EPS. Parker-Hannifin has set its FY 2026 guidance at 28.400-29.400 EPS. Research analysts anticipate that Parker-Hannifin Corporation will post 26.71 earnings per share for the current year.

Parker-Hannifin Announces Dividend

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

Insider Buying and Selling at Parker-Hannifin

In other news, COO Andrew D. Ross sold 4,361 shares of the business'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 transaction of $3,195,130.26. Following the sale, the chief operating officer owned 13,120 shares of the company's stock, valued at $9,612,499.20. The trade was a 24.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 sale, the vice president directly owned 5,866 shares in the company, valued at $4,286,051.56. This trade represents a 27.79% 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. Corporate insiders own 0.32% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Stifel Nicolaus boosted their price target on Parker-Hannifin from $717.00 to $726.00 and gave the company a "hold" rating in a research report on Friday, August 8th. Susquehanna assumed coverage on Parker-Hannifin in a research report on Friday, August 15th. They issued a "positive" rating and a $860.00 price target on the stock. Cowen restated a "hold" rating on shares of Parker-Hannifin in a research report on Friday, August 29th. Wells Fargo & Company boosted their price target on Parker-Hannifin from $770.00 to $800.00 and gave the company an "overweight" rating in a research report on Friday, August 8th. Finally, Morgan Stanley boosted their price target on Parker-Hannifin from $700.00 to $725.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 9th. Fourteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, Parker-Hannifin has an average rating of "Moderate Buy" and a consensus price target of $771.44.

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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