AQR Capital Management LLC Sells 24,861 Shares of Parker-Hannifin Corporation $PH

Key Points

• AQR Capital Management has reduced its stake in Parker-Hannifin Corporation by 35.5%, now holding 45,238 shares valued at approximately $26.5 million.
• Parker-Hannifin recently reported a quarterly earnings of $7.69 EPS, exceeding analysts' expectations, and announced a quarterly dividend of $1.80 per share.
• Notable insider selling occurred, with VP Robert W. Malone and COO Andrew D. Ross offloading shares, indicating a decrease in their ownership stakes by 27.79% and 24.95% respectively.

AQR Capital Management LLC lowered its position in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 35.5% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 45,238 shares of the industrial products company's stock after selling 24,861 shares during the period. AQR Capital Management LLC's holdings in Parker-Hannifin were worth $26,465,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Wealth Preservation Advisors LLC purchased a new stake in Parker-Hannifin during the 1st quarter valued at $27,000. Saudi Central Bank purchased a new stake in Parker-Hannifin during the 1st quarter valued at $31,000. Mpwm Advisory Solutions LLC purchased a new stake in Parker-Hannifin during the 4th quarter valued at $32,000. Olde Wealth Management LLC purchased a new stake in Parker-Hannifin during the 1st quarter valued at $35,000. Finally, Chilton Capital Management LLC boosted its position in Parker-Hannifin by 1,500.0% during the 1st quarter. Chilton Capital Management LLC now owns 64 shares of the industrial products company's stock valued at $39,000 after buying an additional 60 shares during the period. Hedge funds and other institutional investors own 82.44% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on PH. KeyCorp increased their price target on shares of Parker-Hannifin from $790.00 to $810.00 and gave the company an "overweight" rating in a research report on Friday, August 8th. Raymond James Financial raised their target price on shares of Parker-Hannifin from $735.00 to $845.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. Susquehanna assumed coverage on shares of Parker-Hannifin in a research report on Friday, August 15th. They issued a "positive" rating and a $860.00 target price for the company. Evercore ISI reaffirmed an "outperform" rating on shares of Parker-Hannifin in a research report on Tuesday, August 19th. Finally, Morgan Stanley raised their target price on shares of Parker-Hannifin from $700.00 to $725.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 9th. Thirteen research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat, Parker-Hannifin currently has an average rating of "Moderate Buy" and a consensus target price of $770.94.

Parker-Hannifin Stock Down 1.2%

NYSE PH traded down $9.59 during trading hours on Friday, reaching $760.08. 463,454 shares of the company's stock traded hands, compared to its average volume of 581,947. Parker-Hannifin Corporation has a 52-week low of $488.45 and a 52-week high of $779.77. The firm has a market cap of $97.12 billion, a PE ratio of 28.03, a PEG ratio of 3.19 and a beta of 1.35. The firm has a 50-day simple moving average of $736.22 and a 200 day simple moving average of $668.36. 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 (NYSE:PH - Get Free Report) last issued its quarterly 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. Parker-Hannifin had a net margin of 17.79% and a return on equity of 26.80%. The company had revenue of $5.24 billion during the quarter, compared to analysts' expectations of $5.10 billion. During the same period last year, the company posted $6.77 EPS. Parker-Hannifin's revenue was up 1.1% on a year-over-year basis. Parker-Hannifin has set its FY 2026 guidance at 28.400-29.400 EPS. Sell-side analysts anticipate that Parker-Hannifin Corporation will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

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

Insider Activity at Parker-Hannifin

In related news, EVP Joseph R. Leonti sold 4,625 shares of Parker-Hannifin stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $750.84, for a total transaction of $3,472,635.00. Following the completion of the transaction, the executive vice president directly owned 13,878 shares of the company's stock, valued at $10,420,157.52. This trade represents a 25.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Robert W. Malone sold 2,257 shares of Parker-Hannifin 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 directly 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 14,039 shares of company stock worth $10,356,566 over the last 90 days. 0.39% of the stock is currently owned by 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.