Northwestern Mutual Wealth Management Co. Sells 3,865 Shares of Parker-Hannifin Corporation $PH

Key Points

• Northwestern Mutual Wealth Management reduced its Parker-Hannifin stake by 4.8%, selling 3,865 shares and retaining 77,289 shares valued at approximately $75.6 million. Institutional investors collectively own 82.44% of the company.
• Analysts remain broadly positive, with 17 Buy ratings and three Holds; Parker-Hannifin has a “Moderate Buy” consensus rating and an average price target of $1,100.
• Parker-Hannifin exceeded quarterly expectations, reporting $9.27 in EPS and $5.75 billion in revenue, while revenue increased 9.8% year over year. The company also declared a quarterly dividend of $2.00 per share, equivalent to an annualized yield of 0.8%.

Northwestern Mutual Wealth Management Co. lessened its stake in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 4.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 77,289 shares of the industrial products company's stock after selling 3,865 shares during the quarter. Northwestern Mutual Wealth Management Co. owned about 0.06% of Parker-Hannifin worth $75,599,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Meiji Yasuda Life Insurance Co bought a new position in Parker-Hannifin in the second quarter worth approximately $919,000. Spinnaker Trust acquired a new position in shares of Parker-Hannifin during the second quarter worth approximately $291,000. Greenleaf Trust lifted its holdings in shares of Parker-Hannifin by 5.3% in the 2nd quarter. Greenleaf Trust now owns 3,485 shares of the industrial products company's stock worth $3,409,000 after purchasing an additional 175 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Parker-Hannifin by 2.5% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,032,942 shares of the industrial products company's stock worth $1,010,341,000 after purchasing an additional 25,167 shares in the last quarter. Finally, New Mexico Educational Retirement Board grew its position in Parker-Hannifin by 6.8% in the 2nd quarter. New Mexico Educational Retirement Board now owns 6,310 shares of the industrial products company's stock valued at $6,172,000 after purchasing an additional 400 shares during the period. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Stifel Nicolaus set a $1,075.00 price objective on shares of Parker-Hannifin in a report on Friday, August 7th. Evercore set a $1,064.00 target price on shares of Parker-Hannifin in a research report on Monday, May 11th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Parker-Hannifin in a research report on Friday, July 17th. BNP Paribas Exane reiterated an "outperform" rating and set a $1,220.00 price target (up from $1,090.00) on shares of Parker-Hannifin in a research note on Friday, August 7th. Finally, Sanford C. Bernstein boosted their price objective on Parker-Hannifin from $1,037.00 to $1,218.00 and gave the stock an "outperform" rating in a report on Friday, August 14th. Seventeen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $1,100.00.

Parker-Hannifin Trading Down 2.9%

Shares of PH stock opened at $950.80 on Wednesday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.74 and a current ratio of 1.26. The company has a market capitalization of $119.85 billion, a price-to-earnings ratio of 33.37, a PEG ratio of 2.55 and a beta of 1.13. Parker-Hannifin Corporation has a 52-week low of $715.37 and a 52-week high of $1,099.94. The company has a 50-day simple moving average of $992.08 and a two-hundred day simple moving average of $949.89.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted its earnings results on Thursday, August 6th. The industrial products company reported $9.27 EPS for the quarter, topping the consensus estimate of $8.31 by $0.96. The firm had revenue of $5.75 billion for the quarter, compared to analysts' expectations of $5.57 billion. Parker-Hannifin had a net margin of 16.97% and a return on equity of 28.48%. The company's quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter last year, the firm earned $7.69 EPS. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. Research analysts anticipate that Parker-Hannifin Corporation will post 34.93 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Monday, August 31st will be paid a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Monday, August 31st. Parker-Hannifin's dividend payout ratio is 28.08%.

Insider Activity

In other news, VP Berend Bracht sold 602 shares of the firm's stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $1,040.47, for a total transaction of $626,362.94. Following the completion of the sale, the vice president directly owned 4,399 shares of the company's stock, valued at $4,577,027.53. This trade represents a 12.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.32% of the stock is currently owned by corporate insiders.

Parker-Hannifin Company Profile

Parker-Hannifin Corporation NYSE: PH is a global manufacturer and provider of motion and control technologies and systems. The company designs, manufactures and services a broad range of engineered components and systems used to control the movement and flow of liquids, gases and hydraulic power. Its product portfolio is applied across demanding environments and includes solutions for industrial manufacturing, aerospace, mobile equipment and other engineered applications.

Parker-Hannifin's product and service offerings span hydraulic and pneumatic components, fittings and fluid connectors, valves, pumps and motors, electromechanical actuators and motion-control systems, filtration and separation products, and seals and sealing systems.

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