Parker-Hannifin Corporation $PH Position Decreased by Curated Wealth Partners LLC

Key Points

• Curated Wealth Partners cut its Parker-Hannifin position by 99.9% in the third quarter, selling 322,353 shares and retaining 337 shares valued at approximately $322,000.
• Parker-Hannifin reported quarterly results above expectations, with earnings per share of $9.27 versus an $8.31 consensus estimate and revenue of $5.75 billion, up 9.8% year over year.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $1,149.52, while the company pays an annualized dividend of $8.00 per share, yielding about 0.8%.

Curated Wealth Partners LLC lowered its position in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 99.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 337 shares of the industrial products company's stock after selling 322,353 shares during the period. Curated Wealth Partners LLC's holdings in Parker-Hannifin were worth $322,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Polaris Financial Partners acquired a new stake in shares of Parker-Hannifin in the 3rd quarter worth $26,000. Archer Investment Corp purchased a new position in Parker-Hannifin during the 2nd quarter worth $28,000. NFSG Corp increased its position in Parker-Hannifin by 94.4% during the 1st quarter. NFSG Corp now owns 35 shares of the industrial products company's stock valued at $31,000 after buying an additional 17 shares in the last quarter. Bell Investment Advisors Inc acquired a new position in Parker-Hannifin during the 2nd quarter valued at about $35,000. Finally, Brown Lisle Cummings Inc. increased its position in Parker-Hannifin by 76.0% during the 1st quarter. Brown Lisle Cummings Inc. now owns 44 shares of the industrial products company's stock valued at $39,000 after buying an additional 19 shares in the last quarter. 82.44% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Parker-Hannifin news, VP Berend Bracht sold 602 shares of the stock in a transaction dated 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 sale, the vice president directly owned 4,399 shares of the company's stock, valued at approximately $4,577,027.53. This trade represents a 12.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.35% of the company's stock.

Parker-Hannifin Trading Up 0.2%

Parker-Hannifin stock opened at $963.35 on Friday. The stock has a 50-day moving average price of $980.15 and a 200 day moving average price of $949.99. The company has a market capitalization of $121.49 billion, a price-to-earnings ratio of 33.81, a price-to-earnings-growth ratio of 2.69 and a beta of 1.12. Parker-Hannifin Corporation has a 52 week low of $722.12 and a 52 week high of $1,099.94. The company has a quick ratio of 0.74, a current ratio of 1.26 and a debt-to-equity ratio of 0.44.

Parker-Hannifin (NYSE:PH - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The industrial products company reported $9.27 earnings per share for the quarter, topping the consensus estimate of $8.31 by $0.96. Parker-Hannifin had a net margin of 16.97% and a return on equity of 28.48%. The company had revenue of $5.75 billion for the quarter, compared to the consensus estimate of $5.57 billion. During the same quarter in the prior year, the company earned $7.69 EPS. Parker-Hannifin's quarterly revenue was up 9.8% on a year-over-year basis. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. Sell-side analysts anticipate that Parker-Hannifin Corporation will post 35.60 EPS for the current year.

Parker-Hannifin Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 11th. Shareholders of record on Monday, August 31st were given a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Monday, August 31st. Parker-Hannifin's dividend payout ratio (DPR) is currently 28.08%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. KeyCorp raised their price target on Parker-Hannifin from $1,100.00 to $1,210.00 and gave the stock an "overweight" rating in a report on Friday, August 7th. The Goldman Sachs Group boosted their price target on Parker-Hannifin from $1,071.00 to $1,165.00 and gave the stock a "buy" rating in a research note on Friday, August 7th. TD Cowen upped their price objective on shares of Parker-Hannifin from $850.00 to $950.00 and gave the company a "hold" rating in a report on Wednesday. BNP Paribas Exane increased their price objective on shares of Parker-Hannifin from $1,220.00 to $1,270.00 and gave the company an "outperform" rating in a research report on Friday, September 18th. Finally, Wells Fargo & Company began coverage on shares of Parker-Hannifin in a research report on Thursday, September 24th. They issued an "equal weight" rating and a $1,050.00 price objective for the company. Eighteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $1,149.52.

Parker-Hannifin Company Profile

Parker-Hannifin Corporation is a diversified manufacturer of motion and control technologies and systems. The company serves aerospace, industrial, and other specialized markets with products designed to control the movement and flow of liquids and gases, as well as mechanical motion and power.

Its product portfolio includes hydraulic and pneumatic systems, filtration and process-control equipment, electromechanical technologies, sealing and shielding products, connectors, pumps, valves, and related components.

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