Parker-Hannifin Corporation $PH Position Trimmed by Vontobel Holding Ltd.

Key Points

• Vontobel Holding reduced its Parker-Hannifin position by 38.4% in the third quarter, selling 5,058 shares and retaining 8,097 shares valued at approximately $7.7 million. Institutional investors collectively own 82.44% of the company.
• Analysts maintain a generally positive outlook, with 18 Buy ratings and five Hold ratings producing a consensus “Moderate Buy” rating and an average price target of $1,149.52.
• Parker-Hannifin exceeded quarterly expectations, reporting $9.27 in EPS and $5.75 billion in revenue, up 9.8% year over year. The company also declared a quarterly dividend of $2 per share, equivalent to an annualized yield of 0.8%.

Vontobel Holding Ltd. lowered its position in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 38.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,097 shares of the industrial products company's stock after selling 5,058 shares during the quarter. Vontobel Holding Ltd.'s holdings in Parker-Hannifin were worth $7,736,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in shares of Parker-Hannifin in the 2nd quarter worth about $10,163,362,000. State Street Corp lifted its stake in shares of Parker-Hannifin by 0.5% in the 2nd quarter. State Street Corp now owns 9,385,389 shares of the industrial products company's stock valued at $9,180,037,000 after purchasing an additional 42,548 shares in the last quarter. Bank of America Corp DE purchased a new stake in shares of Parker-Hannifin during the 2nd quarter worth about $3,273,507,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Parker-Hannifin by 2.5% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,032,942 shares of the industrial products company's stock worth $1,010,341,000 after purchasing an additional 25,167 shares during the period. Finally, Deutsche Bank AG purchased a new stake in shares of Parker-Hannifin during the 2nd quarter worth about $987,587,000. Hedge funds and other institutional investors own 82.44% of the company's stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. TD Cowen increased their target price on shares of Parker-Hannifin from $850.00 to $950.00 and gave the stock a "hold" rating in a research report on Wednesday. JPMorgan Chase & Co. reduced their price target on shares of Parker-Hannifin from $1,140.00 to $1,131.00 and set an "overweight" rating on the stock in a research report on Friday, October 9th. Wall Street Zen cut shares of Parker-Hannifin from a "buy" rating to a "hold" rating in a research report on Saturday, August 22nd. Wells Fargo & Company assumed coverage on shares of Parker-Hannifin in a research note on Thursday, September 24th. They set an "equal weight" rating and a $1,050.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Parker-Hannifin from $998.00 to $1,023.00 and gave the stock a "hold" rating in a research report on Wednesday, September 30th. Eighteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $1,149.52.

Insider Activity

In other news, VP Berend Bracht sold 602 shares of the business's stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $1,040.47, for a total transaction of $626,362.94. Following the transaction, the vice president directly owned 4,399 shares of the company's stock, valued at approximately $4,577,027.53. The trade was a 12.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.35% of the stock is owned by corporate insiders.

Parker-Hannifin Price Performance

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

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

Parker-Hannifin Announces Dividend

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

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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