Parker-Hannifin Corporation $PH Position Boosted by Cresset Asset Management LLC

Key Points

• Cresset Asset Management LLC increased its stake in Parker-Hannifin Corporation by 334.1%, acquiring an additional 9,120 shares and bringing their total holdings to 11,850 shares valued at $7.2 million.
• Insider transactions revealed that VP Matthew A. Jacobson and VP Angela R. Ives sold shares, reducing their ownership significantly, indicating potential profit-taking amid market movements.
• Equities analysts maintain a predominantly positive outlook on Parker-Hannifin, with 14 buy ratings and an average price target of $768.71 for the stock.

Cresset Asset Management LLC raised its stake in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 334.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,850 shares of the industrial products company's stock after acquiring an additional 9,120 shares during the quarter. Cresset Asset Management LLC's holdings in Parker-Hannifin were worth $7,203,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. SG Americas Securities LLC boosted its stake in Parker-Hannifin by 27.2% during the 1st quarter. SG Americas Securities LLC now owns 31,011 shares of the industrial products company's stock valued at $18,850,000 after acquiring an additional 6,630 shares during the last quarter. Alley Investment Management Company LLC bought a new position in Parker-Hannifin during the 1st quarter valued at $7,996,000. Community Financial Services Group LLC boosted its stake in Parker-Hannifin by 1,338.2% during the 1st quarter. Community Financial Services Group LLC now owns 6,630 shares of the industrial products company's stock valued at $4,030,000 after acquiring an additional 6,169 shares during the last quarter. Heartland Bank & Trust Co bought a new position in Parker-Hannifin during the 1st quarter valued at $260,000. Finally, Banco Santander S.A. boosted its stake in Parker-Hannifin by 70.2% during the 1st quarter. Banco Santander S.A. now owns 35,645 shares of the industrial products company's stock valued at $21,667,000 after acquiring an additional 14,705 shares during the last quarter. 82.44% of the stock is currently owned by institutional investors.

Insider Activity

In other Parker-Hannifin news, VP Robert W. Malone sold 2,257 shares of the firm's stock in a transaction dated 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 of the company's stock, valued at approximately $4,286,051.56. This trade represents a 27.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Angela R. Ives sold 810 shares of the firm's stock in a transaction dated 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 directly owned 2,798 shares in the company, valued at approximately $2,035,153.28. The trade was 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 90 days. 0.39% of the stock is currently owned by corporate insiders.

Parker-Hannifin Stock Performance

Shares of PH stock traded up $19.3280 during trading hours on Friday, reaching $752.3780. The stock had a trading volume of 391,623 shares, compared to its average volume of 750,360. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.19 and a quick ratio of 0.71. Parker-Hannifin Corporation has a twelve month low of $488.45 and a twelve month high of $763.99. The firm has a 50-day simple moving average of $711.07 and a 200-day simple moving average of $660.22. The firm has a market capitalization of $96.14 billion, a PE ratio of 27.74, a price-to-earnings-growth ratio of 3.08 and a beta of 1.37.

Parker-Hannifin (NYSE:PH - Get Free Report) last released its 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. The firm had revenue of $5.24 billion for the quarter, compared to analysts' expectations of $5.10 billion. Parker-Hannifin had a net margin of 17.79% and a return on equity of 26.80%. Parker-Hannifin's quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter last year, the company earned $6.77 EPS. Parker-Hannifin has set its FY 2026 guidance at 28.400-29.400 EPS. As a group, equities analysts forecast that Parker-Hannifin Corporation will post 26.71 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

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 paid a dividend of $1.80 per share. This represents a $7.20 annualized dividend and a yield of 1.0%. Parker-Hannifin's payout ratio is 26.55%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PH. Barclays increased their target price on shares of Parker-Hannifin from $750.00 to $776.00 and gave the stock an "overweight" rating in a report on Friday, August 8th. Wells Fargo & Company increased their target price on shares of Parker-Hannifin from $770.00 to $800.00 and gave the stock an "overweight" rating in a report on Friday, August 8th. Stifel Nicolaus increased their target price on shares of Parker-Hannifin from $717.00 to $726.00 and gave the stock a "hold" rating in a report on Friday, August 8th. Argus set a $680.00 target price on shares of Parker-Hannifin in a report on Tuesday, May 6th. Finally, Evercore ISI reissued an "outperform" rating on shares of Parker-Hannifin in a report on Tuesday. Fourteen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Parker-Hannifin has an average rating of "Moderate Buy" and a consensus target price of $768.71.

Parker-Hannifin Company 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.