AlTi Global Inc. Has $281,000 Stock Holdings in Parker-Hannifin Corporation $PH

Key Points

• AlTi Global Inc. has reduced its stake in Parker-Hannifin Corporation by 47.1%, now holding 463 shares valued at $281,000.
• Parker-Hannifin's stock has received multiple upgrades and currently has an average rating of "Moderate Buy" from analysts, with an average price target of $770.94.
• The company recently announced a quarterly dividend of $1.80 per share, with a yield of 1.0%, payable on September 12th.

AlTi Global Inc. cut its holdings in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 47.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 463 shares of the industrial products company's stock after selling 412 shares during the period. AlTi Global Inc.'s holdings in Parker-Hannifin were worth $281,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Brighton Jones LLC grew its position in Parker-Hannifin by 5.9% in the fourth quarter. Brighton Jones LLC now owns 1,808 shares of the industrial products company's stock valued at $1,150,000 after acquiring an additional 101 shares during the last quarter. Bank Pictet & Cie Europe AG increased its position in Parker-Hannifin by 0.8% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 7,259 shares of the industrial products company's stock worth $4,617,000 after purchasing an additional 55 shares in the last quarter. Bison Wealth LLC lifted its stake in Parker-Hannifin by 4.5% in the 4th quarter. Bison Wealth LLC now owns 749 shares of the industrial products company's stock valued at $476,000 after purchasing an additional 32 shares during the last quarter. Aptus Capital Advisors LLC boosted its position in Parker-Hannifin by 10.6% in the fourth quarter. Aptus Capital Advisors LLC now owns 718 shares of the industrial products company's stock valued at $457,000 after buying an additional 69 shares in the last quarter. Finally, Cary Street Partners Financial LLC bought a new stake in shares of Parker-Hannifin during the fourth quarter worth $1,484,000. Institutional investors and hedge funds own 82.44% of the company's stock.

Analysts Set New Price Targets

PH has been the subject of a number of research reports. Cowen reiterated a "hold" rating on shares of Parker-Hannifin in a research note on Friday, August 29th. Deutsche Bank Aktiengesellschaft lowered Parker-Hannifin from a "buy" rating to a "hold" rating and set a $809.00 price objective on the stock. in a research report on Thursday. Barclays increased their target price on Parker-Hannifin from $750.00 to $776.00 and gave the company an "overweight" rating in a research report on Friday, August 8th. Citigroup reissued a "buy" rating and set a $831.00 price target (up from $709.00) on shares of Parker-Hannifin in a research note on Monday, July 14th. Finally, Morgan Stanley upped their price objective on Parker-Hannifin from $700.00 to $725.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 9th. Thirteen 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 data from MarketBeat, Parker-Hannifin presently has a consensus rating of "Moderate Buy" and an average price target of $770.94.

Insider Activity

In related news, VP Robert W. Malone sold 2,257 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $730.66, for a total transaction of $1,649,099.62. Following the completion of the sale, the vice president owned 5,866 shares of the company's stock, valued at $4,286,051.56. This trade represents a 27.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Andrew D. Ross sold 4,361 shares of Parker-Hannifin stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $732.66, for a total value of $3,195,130.26. Following the completion of the sale, the chief operating officer owned 13,120 shares of the company's stock, valued at approximately $9,612,499.20. The trade was a 24.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,039 shares of company stock worth $10,356,566. 0.39% of the stock is owned by insiders.

Parker-Hannifin Trading Up 0.2%

PH stock traded up $1.67 during trading on Friday, hitting $758.63. The company had a trading volume of 520,224 shares, compared to its average volume of 601,185. The stock has a market cap of $96.94 billion, a PE ratio of 27.97, a PEG ratio of 3.14 and a beta of 1.35. The business has a 50-day moving average of $731.05 and a 200-day moving average of $665.13. The company has a current ratio of 1.19, a quick ratio of 0.71 and a debt-to-equity ratio of 0.55. Parker-Hannifin Corporation has a one year low of $488.45 and a one year high of $773.30.

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

Parker-Hannifin Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Tuesday, September 2nd will be given a dividend of $1.80 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $7.20 dividend on an annualized basis and a yield of 0.9%. Parker-Hannifin's dividend payout ratio is 26.55%.

About Parker-Hannifin

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.