Panagora Asset Management Inc. Increases Stake in Parker-Hannifin Corporation $PH

Key Points

• Panagora Asset Management Inc. increased its stake in Parker-Hannifin Corporation by purchasing 701 shares, raising its ownership to 173,977 shares, valued at approximately $105.75 million.
• Multiple large investors have recently modified their holdings, with SG Americas Securities LLC increasing its stake by 27.2% and Community Financial Services Group LLC boosting its holdings by 1,338.2% during the first quarter.
• Parker-Hannifin reported a Q2 EPS of $7.69, exceeding expectations and setting fiscal year guidance for EPS between 28.400 and 29.400, amidst a strong stock performance with a market cap of $97.08 billion.

Panagora Asset Management Inc. boosted its holdings in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 0.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 173,977 shares of the industrial products company's stock after buying an additional 701 shares during the quarter. Panagora Asset Management Inc. owned approximately 0.14% of Parker-Hannifin worth $105,752,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. First Manhattan CO. LLC. grew its position in Parker-Hannifin by 1.0% during the fourth quarter. First Manhattan CO. LLC. now owns 1,580 shares of the industrial products company's stock valued at $1,005,000 after buying an additional 15 shares during the period. Cascade Financial Partners LLC grew its position in Parker-Hannifin by 3.1% during 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 during the period. Nicolet Advisory Services LLC grew its position in Parker-Hannifin by 3.5% during the first quarter. Nicolet Advisory Services LLC now owns 468 shares of the industrial products company's stock valued at $262,000 after buying an additional 16 shares during the period. E Fund Management Co. Ltd. grew its position in Parker-Hannifin by 5.0% during the first quarter. E Fund Management Co. Ltd. now owns 336 shares of the industrial products company's stock valued at $204,000 after buying an additional 16 shares during the period. Finally, Citizens National Bank Trust Department grew its position in Parker-Hannifin by 8.5% during the first quarter. Citizens National Bank Trust Department now owns 217 shares of the industrial products company's stock valued at $132,000 after buying an additional 17 shares during the period. 82.44% of the stock is currently owned by institutional investors.

Insider Activity at Parker-Hannifin

In other news, COO Andrew D. Ross sold 4,361 shares of the 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 sale, the chief operating officer owned 13,120 shares of the company's stock, 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 legal filing with the SEC, which can be accessed through this link. Also, VP Robert W. Malone sold 2,257 shares of the stock in a transaction on Friday, August 8th. The shares were sold at an average price of $730.66, for a total transaction of $1,649,099.62. Following the completion of the sale, the vice president directly owned 5,866 shares in the company, valued at approximately $4,286,051.56. This represents a 27.79% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 14,039 shares of company stock valued at $10,356,566 over the last quarter. 0.39% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Wells Fargo & Company upped their price target on shares of Parker-Hannifin from $770.00 to $800.00 and gave the stock an "overweight" rating in a research report on Friday, August 8th. Morgan Stanley upped their price target on shares of Parker-Hannifin from $700.00 to $725.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 9th. Wall Street Zen upgraded shares of Parker-Hannifin from a "hold" rating to a "buy" rating in a research report on Saturday. Argus set a $680.00 price target on shares of Parker-Hannifin in a research report on Tuesday, May 6th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Parker-Hannifin in a research report on Friday, August 8th. Fourteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, Parker-Hannifin has a consensus rating of "Moderate Buy" and an average price target of $768.71.

Parker-Hannifin Price Performance

Shares of NYSE:PH traded down $9.49 during midday trading on Tuesday, reaching $749.86. 520,232 shares of the company were exchanged, compared to its average volume of 749,747. The company has a current ratio of 1.19, a quick ratio of 0.71 and a debt-to-equity ratio of 0.55. The business's fifty day moving average is $725.67 and its two-hundred day moving average is $663.37. Parker-Hannifin Corporation has a one year low of $488.45 and a one year high of $773.30. The stock has a market cap of $95.82 billion, a PE ratio of 27.65, a price-to-earnings-growth ratio of 3.15 and a beta of 1.35.

Parker-Hannifin (NYSE:PH - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The industrial products company reported $7.69 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $7.08 by $0.61. The company had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.10 billion. Parker-Hannifin had a net margin of 17.79% and a return on equity of 26.80%. Parker-Hannifin's revenue was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $6.77 earnings per share. Parker-Hannifin has set its FY 2026 guidance at 28.400-29.400 EPS. As a group, analysts predict that Parker-Hannifin Corporation will post 26.71 earnings per share for the current 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. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $7.20 dividend on an annualized basis and a yield of 1.0%. Parker-Hannifin's dividend payout ratio is presently 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.