Parker-Hannifin Corporation $PH Shares Bought by Envestnet Portfolio Solutions Inc.

Key Points

• Envestnet Portfolio Solutions Inc. increased its stake in Parker-Hannifin Corporation by 2.4% during the second quarter, now holding 14,721 shares valued at approximately $10.28 million.
• Parker-Hannifin reported earnings of $7.69 per share for the most recent quarter, surpassing analyst estimates and showing a modest year-over-year revenue growth of 1.1%.
• The company announced a quarterly dividend of $1.80 per share, resulting in an annualized yield of 1.0%, with a dividend payout ratio of 26.55%.

Envestnet Portfolio Solutions Inc. lifted its stake in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 2.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,721 shares of the industrial products company's stock after acquiring an additional 351 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Parker-Hannifin were worth $10,282,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. increased its stake in shares of Parker-Hannifin by 1.6% during the first quarter. Vanguard Group Inc. now owns 11,023,764 shares of the industrial products company's stock valued at $6,700,795,000 after acquiring an additional 168,990 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of Parker-Hannifin by 52.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,443,104 shares of the industrial products company's stock valued at $1,485,042,000 after acquiring an additional 842,262 shares during the period. Wellington Management Group LLP increased its stake in shares of Parker-Hannifin by 11.6% during the first quarter. Wellington Management Group LLP now owns 2,009,250 shares of the industrial products company's stock valued at $1,221,323,000 after acquiring an additional 208,573 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Parker-Hannifin by 0.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,594,347 shares of the industrial products company's stock valued at $969,124,000 after acquiring an additional 11,815 shares during the period. Finally, Nuveen LLC acquired a new position in shares of Parker-Hannifin during the first quarter valued at approximately $933,089,000. Institutional investors and hedge funds own 82.44% of the company's stock.

Analyst Upgrades and Downgrades

PH has been the subject of a number of research reports. KeyCorp raised their target price on shares of Parker-Hannifin from $790.00 to $810.00 and gave the stock an "overweight" rating in a report on Friday, August 8th. Wells Fargo & Company raised their target price on shares of Parker-Hannifin from $800.00 to $840.00 and gave the stock an "overweight" rating in a report on Monday, October 6th. Wall Street Zen upgraded shares of Parker-Hannifin from a "hold" rating to a "buy" rating in a report on Saturday, September 20th. Truist Financial raised their target price on shares of Parker-Hannifin from $822.00 to $910.00 and gave the stock a "buy" rating in a report on Wednesday, October 8th. Finally, Cowen restated a "hold" rating on shares of Parker-Hannifin in a report on Friday, August 29th. Fourteen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $786.78.

Parker-Hannifin Trading Up 1.7%

Shares of NYSE:PH opened at $728.67 on Tuesday. The firm has a fifty day moving average of $749.16 and a two-hundred day moving average of $686.79. The firm has a market capitalization of $92.21 billion, a P/E ratio of 26.87, a price-to-earnings-growth ratio of 2.97 and a beta of 1.35. Parker-Hannifin Corporation has a 12-month low of $488.45 and a 12-month high of $779.77. 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 issued its 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 during the quarter, compared to analyst estimates of $5.10 billion. Parker-Hannifin had a net margin of 17.79% and a return on equity of 26.80%. The company's revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter last year, the business posted $6.77 EPS. Parker-Hannifin has set its FY 2026 guidance at 28.400-29.400 EPS. On average, equities analysts expect that Parker-Hannifin Corporation will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Tuesday, September 2nd were paid a dividend of $1.80 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $7.20 dividend on an annualized basis and a dividend yield of 1.0%. Parker-Hannifin's dividend payout ratio (DPR) is 26.55%.

Insider Activity at Parker-Hannifin

In other news, VP Angela R. Ives sold 810 shares of the firm's stock in a transaction on Friday, August 8th. The shares were sold at an average price of $727.36, for a total transaction of $589,161.60. Following the transaction, the vice president owned 2,798 shares in the company, valued at approximately $2,035,153.28. This trade represents a 22.45% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Robert W. Malone sold 2,257 shares of the firm's 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 transaction, the vice president owned 5,866 shares in the company, valued at $4,286,051.56. This represents a 27.79% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 14,039 shares of company stock worth $10,356,566. 0.32% of the stock is currently owned by company insiders.

Parker-Hannifin 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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