Parker-Hannifin Corporation $PH Shares Purchased by NewEdge Wealth LLC

Key Points

• NewEdge Wealth LLC increased its Parker-Hannifin stake by 20.9% in the fourth quarter, bringing its holdings to 13,710 shares valued at about $12.05 million.
• Two company insiders, CFO Todd M. Leombruno and COO Andrew D. Ross, sold shares on February 11, reducing their positions by 9.09% and 26.23%, respectively.
• Parker-Hannifin reported better-than-expected quarterly results, with EPS of $8.17 versus $7.84 expected and revenue of $5.49 billion, while also raising its quarterly dividend to $2.00 from $1.80.

NewEdge Wealth LLC increased its position in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 20.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 13,710 shares of the industrial products company's stock after acquiring an additional 2,372 shares during the quarter. NewEdge Wealth LLC's holdings in Parker-Hannifin were worth $12,051,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of PH. Texas Capital Bancshares Inc TX acquired a new stake in Parker-Hannifin during the third quarter worth approximately $25,000. Chilton Capital Management LLC acquired a new stake in Parker-Hannifin during the third quarter worth approximately $29,000. Ameriflex Group Inc. boosted its position in Parker-Hannifin by 366.7% during the third quarter. Ameriflex Group Inc. now owns 42 shares of the industrial products company's stock worth $32,000 after acquiring an additional 33 shares during the last quarter. Mowery & Schoenfeld Wealth Management LLC boosted its position in Parker-Hannifin by 80.0% during the fourth quarter. Mowery & Schoenfeld Wealth Management LLC now owns 36 shares of the industrial products company's stock worth $32,000 after acquiring an additional 16 shares during the last quarter. Finally, Morse Asset Management Inc boosted its position in Parker-Hannifin by 164.7% during the third quarter. Morse Asset Management Inc now owns 45 shares of the industrial products company's stock worth $34,000 after acquiring an additional 28 shares during the last quarter. Institutional investors and hedge funds own 82.44% of the company's stock.

Insiders Place Their Bets

In other news, CFO Todd M. Leombruno sold 2,062 shares of the firm's stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $1,002.34, for a total value of $2,066,825.08. Following the transaction, the chief financial officer owned 20,610 shares of the company's stock, valued at approximately $20,658,227.40. This trade represents a 9.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Andrew D. Ross sold 4,664 shares of the firm's stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $999.00, for a total transaction of $4,659,336.00. Following the completion of the transaction, the chief operating officer directly owned 13,120 shares in the company, valued at approximately $13,106,880. This represents a 26.23% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.32% of the company's stock.

Parker-Hannifin Stock Performance

NYSE:PH opened at $878.24 on Monday. The company has a quick ratio of 0.66, a current ratio of 1.13 and a debt-to-equity ratio of 0.46. The company has a market cap of $110.85 billion, a P/E ratio of 32.40, a P/E/G ratio of 2.81 and a beta of 1.18. Parker-Hannifin Corporation has a fifty-two week low of $637.21 and a fifty-two week high of $1,034.96. The firm's 50 day moving average is $940.31 and its two-hundred day moving average is $906.44.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The industrial products company reported $8.17 earnings per share for the quarter, topping analysts' consensus estimates of $7.84 by $0.33. The company had revenue of $5.49 billion for the quarter, compared to the consensus estimate of $5.40 billion. Parker-Hannifin had a net margin of 16.58% and a return on equity of 27.97%. Parker-Hannifin's revenue was up 10.6% on a year-over-year basis. During the same quarter last year, the firm posted $6.94 earnings per share. Parker-Hannifin has set its FY 2026 guidance at 31.200-31.200 EPS. Analysts expect that Parker-Hannifin Corporation will post 31.18 EPS for the current year.

Parker-Hannifin Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 5th. Stockholders of record on Friday, May 8th will be paid a $2.00 dividend. The ex-dividend date of this dividend is Friday, May 8th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.9%. This is a boost from Parker-Hannifin's previous quarterly dividend of $1.80. Parker-Hannifin's payout ratio is 29.51%.

Analysts Set New Price Targets

A number of analysts recently issued reports on PH shares. BMO Capital Markets started coverage on shares of Parker-Hannifin in a research report on Friday, March 27th. They set an "outperform" rating and a $1,090.00 target price on the stock. Barclays raised their target price on shares of Parker-Hannifin from $990.00 to $1,020.00 and gave the stock an "overweight" rating in a research report on Friday, January 30th. KeyCorp reaffirmed an "overweight" rating and set a $1,100.00 price target on shares of Parker-Hannifin in a research note on Friday, January 30th. Citigroup increased their price target on shares of Parker-Hannifin from $1,137.00 to $1,141.00 and gave the stock a "buy" rating in a research note on Friday, May 1st. Finally, Morgan Stanley increased their price target on shares of Parker-Hannifin from $945.00 to $1,038.00 and gave the stock an "equal weight" rating in a research note on Tuesday, February 24th. Seventeen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $1,010.45.

About Parker-Hannifin

Parker-Hannifin Corporation NYSE: PH is a global manufacturer and provider of motion and control technologies and systems. The company designs, manufactures and services a broad range of engineered components and systems used to control the movement and flow of liquids, gases and hydraulic power. Its product portfolio is applied across demanding environments and includes solutions for industrial manufacturing, aerospace, mobile equipment and other engineered applications.

Parker-Hannifin's product and service offerings span hydraulic and pneumatic components, fittings and fluid connectors, valves, pumps and motors, electromechanical actuators and motion-control systems, filtration and separation products, and seals and sealing systems.

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