Parker-Hannifin Corporation $PH is Smith Group Asset Management LLC's 9th Largest Position

Key Points

• Smith Group Asset Management LLC has increased its holdings in Parker-Hannifin Corporation by 1.7%, making it the 9th largest position in their investment portfolio, valued at approximately $47.1 million.
• Parker-Hannifin reported an EPS of $7.69 for the last quarter, surpassing analyst expectations, while its quarterly revenue saw a year-over-year increase of 1.1% to $5.24 billion.
• The company declared a quarterly dividend of $1.80 per share, with a dividend yield of 0.9%, reflecting a payout ratio of 26.55%.

Smith Group Asset Management LLC grew its holdings in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 1.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 67,491 shares of the industrial products company's stock after buying an additional 1,135 shares during the quarter. Parker-Hannifin accounts for 3.1% of Smith Group Asset Management LLC's investment portfolio, making the stock its 9th largest position. Smith Group Asset Management LLC owned about 0.05% of Parker-Hannifin worth $47,140,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wealth Preservation Advisors LLC purchased a new stake in shares of Parker-Hannifin in the first quarter valued at approximately $27,000. Saudi Central Bank acquired a new stake in shares of Parker-Hannifin in the first quarter worth approximately $31,000. Interchange Capital Partners LLC acquired a new stake in shares of Parker-Hannifin in the second quarter worth approximately $31,000. Olde Wealth Management LLC acquired a new stake in shares of Parker-Hannifin in the first quarter worth approximately $35,000. Finally, Chilton Capital Management LLC boosted its stake in shares of Parker-Hannifin by 1,500.0% in the first quarter. Chilton Capital Management LLC now owns 64 shares of the industrial products company's stock worth $39,000 after acquiring an additional 60 shares during the last quarter. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Parker-Hannifin Stock Performance

Shares of Parker-Hannifin stock opened at $766.20 on Friday. Parker-Hannifin Corporation has a 52 week low of $488.45 and a 52 week high of $779.77. The business's fifty day simple moving average is $750.77 and its 200-day simple moving average is $694.45. The firm has a market cap of $96.96 billion, a PE ratio of 28.25, a price-to-earnings-growth ratio of 3.07 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 quarterly earnings results on Thursday, August 7th. The industrial products company reported $7.69 EPS for the quarter, beating the consensus estimate of $7.08 by $0.61. Parker-Hannifin had a return on equity of 26.80% and a net margin of 17.79%.The business had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.10 billion. During the same quarter in the prior year, the company posted $6.77 EPS. The company'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. Equities analysts forecast that Parker-Hannifin Corporation will post 26.71 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Friday, November 7th will be paid a $1.80 dividend. This represents a $7.20 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, November 7th. Parker-Hannifin's dividend payout ratio is 26.55%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Wells Fargo & Company lifted their price target on Parker-Hannifin from $800.00 to $840.00 and gave the stock an "overweight" rating in a research note on Monday, October 6th. KeyCorp boosted their price objective on Parker-Hannifin from $810.00 to $825.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 14th. Deutsche Bank Aktiengesellschaft lowered Parker-Hannifin from a "buy" rating to a "hold" rating and set a $809.00 price objective on the stock. in a research note on Thursday, September 4th. Morgan Stanley boosted their price objective on Parker-Hannifin from $700.00 to $725.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 9th. Finally, Stifel Nicolaus lowered their price objective on Parker-Hannifin from $726.00 to $723.00 and set a "hold" rating on the stock in a research note on Monday. Fourteen equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, Parker-Hannifin has an average rating of "Moderate Buy" and a consensus target price of $789.67.

Insider Transactions at Parker-Hannifin

In related news, VP Matthew A. Jacobson sold 575 shares of the business's stock in a transaction on Friday, August 8th. The stock was sold at an average price of $733.06, for a total value of $421,509.50. Following the sale, the vice president owned 1,000 shares in the company, valued at approximately $733,060. The trade was a 36.51% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Andrew D. Ross sold 4,361 shares of the business's 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 owned 13,120 shares in the company, valued at $9,612,499.20. This represents a 24.95% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,039 shares of company stock worth $10,356,566. 0.32% of the stock is owned by corporate insiders.

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.

Want to see what other hedge funds are holding PH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Parker-Hannifin Corporation (NYSE:PH - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.