Parker-Hannifin Corporation $PH Shares Bought by Summit Financial LLC

Key Points

• Summit Financial LLC increased its holdings in Parker-Hannifin Corporation by 9.1%, owning 4,863 shares valued at approximately $2.96 million by the end of the 1st quarter.
• Institutional investors own 82.44% of Parker-Hannifin's stock, with significant stake increases reported from various firms during the same period.
• Parker-Hannifin announced a quarterly dividend of $1.80 per share, which represents a 1.0% yield, scheduled for payment on September 12th.

Summit Financial LLC grew its holdings in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 9.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,863 shares of the industrial products company's stock after purchasing an additional 406 shares during the period. Summit Financial LLC's holdings in Parker-Hannifin were worth $2,956,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. United Asset Strategies Inc. increased its position in Parker-Hannifin by 1.1% during the 1st quarter. United Asset Strategies Inc. now owns 23,501 shares of the industrial products company's stock worth $14,285,000 after purchasing an additional 266 shares during the period. Price T Rowe Associates Inc. MD increased its position in Parker-Hannifin by 52.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,443,104 shares of the industrial products company's stock worth $1,485,042,000 after purchasing an additional 842,262 shares during the period. Martingale Asset Management L P increased its position in Parker-Hannifin by 1.6% during the 1st quarter. Martingale Asset Management L P now owns 23,946 shares of the industrial products company's stock worth $14,556,000 after purchasing an additional 366 shares during the period. Tribune Investment Group LP acquired a new position in Parker-Hannifin during the 1st quarter worth approximately $6,078,000. Finally, Candriam S.C.A. increased its position in Parker-Hannifin by 0.6% during the 1st quarter. Candriam S.C.A. now owns 59,701 shares of the industrial products company's stock worth $36,289,000 after purchasing an additional 355 shares during the period. Institutional investors and hedge funds own 82.44% of the company's stock.

Insider Activity

In other Parker-Hannifin news, VP Matthew A. Jacobson sold 575 shares of the stock in a transaction on Friday, August 8th. The stock was sold at an average price of $733.06, for a total transaction of $421,509.50. Following the sale, the vice president owned 1,000 shares in the company, valued at approximately $733,060. This represents a 36.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Angela R. Ives sold 810 shares of the stock in a transaction on Friday, August 8th. The stock was sold at an average price of $727.36, for a total value of $589,161.60. Following the transaction, the vice president directly owned 2,798 shares in the company, valued at approximately $2,035,153.28. This represents a 22.45% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,414 shares of company stock worth $6,883,931 in the last quarter. 0.39% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Citigroup restated a "buy" rating and issued a $831.00 price target (up previously from $709.00) on shares of Parker-Hannifin in a report on Monday, July 14th. Morgan Stanley upped their price target on Parker-Hannifin from $700.00 to $725.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 9th. Stifel Nicolaus upped their price target on Parker-Hannifin from $717.00 to $726.00 and gave the stock a "hold" rating in a report on Friday, August 8th. Mizuho set a $785.00 price target on Parker-Hannifin in a report on Friday, May 16th. Finally, Wells Fargo & Company upped their price target on Parker-Hannifin from $770.00 to $800.00 and gave the stock an "overweight" rating in a report on Friday, August 8th. Fourteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Parker-Hannifin presently has a consensus rating of "Moderate Buy" and an average price target of $768.71.

Parker-Hannifin Price Performance

Shares of NYSE:PH opened at $732.63 on Friday. The business's fifty day moving average price is $711.07 and its two-hundred day moving average price is $660.22. The stock has a market cap of $93.61 billion, a PE ratio of 27.01, a price-to-earnings-growth ratio of 3.08 and a beta of 1.37. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.71 and a current ratio of 1.19. Parker-Hannifin Corporation has a one year low of $488.45 and a one year high of $763.99.

Parker-Hannifin (NYSE:PH - Get Free Report) last announced its earnings results on Thursday, August 7th. The industrial products company reported $7.69 EPS for the quarter, beating analysts' consensus estimates of $7.08 by $0.61. The firm had revenue of $5.24 billion for the quarter, compared to analysts' expectations of $5.10 billion. Parker-Hannifin had a return on equity of 26.80% and a net margin of 17.79%.Parker-Hannifin's quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $6.77 EPS. Parker-Hannifin has set its FY 2026 guidance at 28.400-29.400 EPS. On average, analysts forecast that Parker-Hannifin Corporation will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

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

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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