Northern Trust Corp Buys 32,252 Shares of Parker-Hannifin Corporation $PH

Key Points

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Northern Trust Corp lifted its position in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 2.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,377,816 shares of the industrial products company's stock after buying an additional 32,252 shares during the period. Northern Trust Corp owned about 1.08% of Parker-Hannifin worth $837,505,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake 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 worth $6,700,795,000 after purchasing an additional 168,990 shares during the period. Royal Bank of Canada lifted its stake 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 purchasing an additional 1,137,564 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings 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 during the period. GAMMA Investing LLC raised its holdings in Parker-Hannifin by 66,111.8% in the 1st quarter. GAMMA Investing LLC now owns 1,735,412 shares of the industrial products company's stock valued at $1,054,870,000 after acquiring an additional 1,732,791 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its holdings in Parker-Hannifin by 17.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,600,842 shares of the industrial products company's stock valued at $1,018,185,000 after acquiring an additional 237,634 shares during the period. 82.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on PH. Argus set a $680.00 target price on shares of Parker-Hannifin in a report on Tuesday, May 6th. Morgan Stanley raised their target price on shares of Parker-Hannifin from $700.00 to $725.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 9th. Stifel Nicolaus lifted their price target on shares of Parker-Hannifin from $717.00 to $726.00 and gave the stock a "hold" rating in a report on Friday, August 8th. Wells Fargo & Company lifted their target price on shares of Parker-Hannifin from $770.00 to $800.00 and gave the stock an "overweight" rating in a research note on Friday, August 8th. Finally, Susquehanna initiated coverage on shares of Parker-Hannifin in a research note on Friday, August 15th. They issued a "positive" rating and a $860.00 price target for the company. Fourteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $768.71.

Insider Activity at Parker-Hannifin

In other Parker-Hannifin news, VP Robert W. Malone sold 2,257 shares of the 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 sale, the vice president directly owned 5,866 shares in the company, valued at $4,286,051.56. This represents a 27.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Angela R. Ives sold 810 shares of the 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 directly owned 2,798 shares in the company, valued at $2,035,153.28. The trade was a 22.45% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,414 shares of company stock worth $6,883,931 in the last ninety days. Insiders own 0.39% of the company's stock.

Parker-Hannifin Stock Performance

PH traded up $19.3280 during midday trading on Friday, reaching $752.3780. The company had a trading volume of 725,793 shares, compared to its average volume of 767,288. 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 cap of $96.14 billion, a PE ratio of 27.74, a P/E/G ratio of 3.04 and a beta of 1.37. Parker-Hannifin Corporation has a 12-month low of $488.45 and a 12-month high of $763.99. The business has a 50-day moving average price of $713.04 and a two-hundred day moving average price of $660.65.

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

Parker-Hannifin Announces Dividend

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