Pacific Heights Asset Management LLC Raises Position in Parker-Hannifin Corporation $PH

Key Points

• Pacific Heights Asset Management LLC increased its stake in Parker-Hannifin Corporation by 18.9%, owning 63,000 shares worth approximately $44 million by the end of the 2nd quarter.
• Multiple institutional investors have also expanded their positions, with Exencial Wealth Advisors increasing their stake by 137.5% during the same period.
• Analysts have raised their price targets for Parker-Hannifin, with Wells Fargo now setting it at $840, indicating strong market confidence in the company's performance.

Pacific Heights Asset Management LLC lifted its position in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 18.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 63,000 shares of the industrial products company's stock after purchasing an additional 10,000 shares during the quarter. Parker-Hannifin comprises about 2.3% of Pacific Heights Asset Management LLC's investment portfolio, making the stock its 8th biggest position. Pacific Heights Asset Management LLC's holdings in Parker-Hannifin were worth $44,004,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the stock. Exencial Wealth Advisors LLC increased its stake in Parker-Hannifin by 137.5% during the second quarter. Exencial Wealth Advisors LLC now owns 5,103 shares of the industrial products company's stock worth $3,564,000 after acquiring an additional 2,954 shares during the last quarter. Cookson Peirce & Co. Inc. boosted its holdings in shares of Parker-Hannifin by 3.9% in the second quarter. Cookson Peirce & Co. Inc. now owns 2,575 shares of the industrial products company's stock valued at $1,799,000 after purchasing an additional 96 shares during the period. Brookstone Capital Management boosted its holdings in shares of Parker-Hannifin by 16.9% in the second quarter. Brookstone Capital Management now owns 7,313 shares of the industrial products company's stock valued at $5,108,000 after purchasing an additional 1,058 shares during the period. Jacobsen Capital Management boosted its holdings in shares of Parker-Hannifin by 10.8% in the second quarter. Jacobsen Capital Management now owns 369 shares of the industrial products company's stock valued at $258,000 after purchasing an additional 36 shares during the period. Finally, Whittier Trust Co. lifted its holdings in Parker-Hannifin by 12.8% during the second quarter. Whittier Trust Co. now owns 3,701 shares of the industrial products company's stock worth $2,585,000 after buying an additional 421 shares during the period. 82.44% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PH. Mizuho upped their price target on Parker-Hannifin from $800.00 to $825.00 and gave the stock an "outperform" rating in a research report on Friday. Wells Fargo & Company increased their price target on Parker-Hannifin from $800.00 to $840.00 and gave the stock an "overweight" rating in a research report on Monday, October 6th. Evercore ISI reaffirmed an "outperform" rating on shares of Parker-Hannifin in a research report on Tuesday, August 19th. Susquehanna initiated coverage on Parker-Hannifin in a research report on Friday, August 15th. They set a "positive" rating and a $860.00 target price on the stock. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Parker-Hannifin in a research report on Wednesday, October 8th. Fourteen research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $789.67.

Insider Buying and Selling at Parker-Hannifin

In other Parker-Hannifin news, COO Andrew D. Ross sold 4,361 shares of the company's stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $732.66, for a total transaction of $3,195,130.26. Following the transaction, the chief operating officer directly owned 13,120 shares in the company, valued at approximately $9,612,499.20. This represents a 24.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Joseph R. Leonti sold 4,625 shares of the firm's stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $750.84, for a total transaction of $3,472,635.00. Following the transaction, 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. Over the last quarter, insiders sold 14,039 shares of company stock valued at $10,356,566. Insiders own 0.32% of the company's stock.

Parker-Hannifin Stock Performance

NYSE:PH opened at $757.83 on Wednesday. The company has a fifty day simple moving average of $750.81 and a two-hundred day simple moving average of $692.50. The company has a market cap of $95.90 billion, a price-to-earnings ratio of 27.94, a price-to-earnings-growth ratio of 3.06 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 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, topping the consensus estimate 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 analysts' expectations of $5.10 billion. During the same period in the previous year, the company earned $6.77 EPS. The company's revenue for the quarter was up 1.1% on a year-over-year basis. Parker-Hannifin has set its FY 2026 guidance at 28.400-29.400 EPS. As a group, equities analysts anticipate that Parker-Hannifin Corporation will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

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. This represents a $7.20 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date was Tuesday, September 2nd. Parker-Hannifin's payout ratio is 26.55%.

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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