OFI Invest Asset Management Has $1.69 Million Stock Holdings in Parker-Hannifin Corporation $PH

Key Points

• OFI Invest Asset Management reduced its holdings in Parker-Hannifin Corporation by 93.6%, owning only 2,421 shares worth approximately $1.69 million after selling 35,502 shares in the second quarter.
• Insider transactions included COO Andrew D. Ross selling 4,361 shares and EVP Joseph R. Leonti selling 4,625 shares, indicating substantial decreases in their ownership, with total insider sales amounting to over $10 million in the last quarter.
• Analysts have a consensus rating of "Moderate Buy" on Parker-Hannifin, with a current average price target of $786.78, while the stock is projected to report 26.71 EPS for the current year.

OFI Invest Asset Management decreased its position in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 93.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,421 shares of the industrial products company's stock after selling 35,502 shares during the period. OFI Invest Asset Management's holdings in Parker-Hannifin were worth $1,691,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Cascade Financial Partners LLC boosted its position in Parker-Hannifin by 3.1% in the first quarter. Cascade Financial Partners LLC now owns 498 shares of the industrial products company's stock valued at $303,000 after buying an additional 15 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. boosted its position in Parker-Hannifin by 0.8% in the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 1,814 shares of the industrial products company's stock valued at $1,103,000 after buying an additional 15 shares in the last quarter. Empowered Funds LLC boosted its position in Parker-Hannifin by 0.5% in the first quarter. Empowered Funds LLC now owns 2,894 shares of the industrial products company's stock valued at $1,759,000 after buying an additional 15 shares in the last quarter. Sivia Capital Partners LLC boosted its position in Parker-Hannifin by 3.6% in the second quarter. Sivia Capital Partners LLC now owns 430 shares of the industrial products company's stock valued at $300,000 after buying an additional 15 shares in the last quarter. Finally, Bingham Private Wealth LLC boosted its position in Parker-Hannifin by 3.3% in the second quarter. Bingham Private Wealth LLC now owns 472 shares of the industrial products company's stock valued at $330,000 after buying an additional 15 shares in the last quarter. Institutional investors and hedge funds own 82.44% of the company's stock.

Insider Transactions at Parker-Hannifin

In other Parker-Hannifin news, COO Andrew D. Ross sold 4,361 shares of Parker-Hannifin stock in a transaction on Friday, August 8th. The shares were sold at an average price of $732.66, for a total value of $3,195,130.26. Following the completion of the sale, the chief operating officer directly owned 13,120 shares of the company's stock, valued at approximately $9,612,499.20. The trade was a 24.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Joseph R. Leonti sold 4,625 shares of Parker-Hannifin stock in a transaction on Monday, August 25th. The shares were sold at an average price of $750.84, for a total transaction of $3,472,635.00. Following the completion of the sale, the executive vice president directly owned 13,878 shares of the company's stock, valued at approximately $10,420,157.52. This trade represents a 25.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,039 shares of company stock valued at $10,356,566. 0.32% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

PH has been the topic of a number of research analyst reports. Raymond James Financial raised their target price on shares of Parker-Hannifin from $735.00 to $845.00 and gave the company an "outperform" rating in a research report on Friday, August 8th. Citigroup raised their price target on shares of Parker-Hannifin from $831.00 to $874.00 and gave the company a "buy" rating in a research note on Thursday. Stifel Nicolaus raised their price target on shares of Parker-Hannifin from $717.00 to $726.00 and gave the company a "hold" rating in a research note on Friday, August 8th. Evercore ISI reaffirmed an "outperform" rating on shares of Parker-Hannifin in a research note on Tuesday, August 19th. Finally, Susquehanna began coverage on shares of Parker-Hannifin in a research note on Friday, August 15th. They set a "positive" rating and a $860.00 price target for the company. Fourteen investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $786.78.

Parker-Hannifin Price Performance

Shares of NYSE PH opened at $716.31 on Friday. Parker-Hannifin Corporation has a twelve month low of $488.45 and a twelve month high of $779.77. The firm has a fifty day simple moving average of $748.97 and a 200 day simple moving average of $685.49. The company has a market capitalization of $90.64 billion, a PE ratio of 26.41, a P/E/G ratio of 2.97 and a beta of 1.35. The company has a quick ratio of 0.71, a current ratio of 1.19 and a debt-to-equity ratio of 0.55.

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

Parker-Hannifin Announces Dividend

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

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