Boothbay Fund Management LLC Sells 9,710 Shares of Parker-Hannifin Corporation $PH

Key Points

• Boothbay Fund Management LLC decreased its stake in Parker-Hannifin Corporation by 35.1%, holding 17,993 shares valued at approximately $10.9 million after selling 9,710 shares.
• Parker-Hannifin reported an earnings per share (EPS) of $7.69 for the last quarter, exceeding analysts' expectations, with quarterly revenue reaching $5.24 billion.
• The company recently announced a quarterly dividend of $1.80 per share, equating to an annualized rate of $7.20 and a yield of 1.0%.

Boothbay Fund Management LLC trimmed its holdings in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 35.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,993 shares of the industrial products company's stock after selling 9,710 shares during the period. Boothbay Fund Management LLC's holdings in Parker-Hannifin were worth $10,937,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in PH. First Manhattan CO. LLC. increased its holdings in Parker-Hannifin by 1.0% during the 4th quarter. First Manhattan CO. LLC. now owns 1,580 shares of the industrial products company's stock worth $1,005,000 after acquiring an additional 15 shares during the period. Cascade Financial Partners LLC increased its holdings in Parker-Hannifin by 3.1% during the 1st quarter. Cascade Financial Partners LLC now owns 498 shares of the industrial products company's stock worth $303,000 after acquiring an additional 15 shares during the period. Nicolet Advisory Services LLC increased its holdings in Parker-Hannifin by 3.5% during the 1st quarter. Nicolet Advisory Services LLC now owns 468 shares of the industrial products company's stock worth $262,000 after acquiring an additional 16 shares during the period. E Fund Management Co. Ltd. increased its holdings in Parker-Hannifin by 5.0% during the 1st quarter. E Fund Management Co. Ltd. now owns 336 shares of the industrial products company's stock worth $204,000 after acquiring an additional 16 shares during the period. Finally, Citizens National Bank Trust Department increased its holdings in Parker-Hannifin by 8.5% during the 1st quarter. Citizens National Bank Trust Department now owns 217 shares of the industrial products company's stock worth $132,000 after acquiring an additional 17 shares during the period. 82.44% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

PH has been the topic of a number of analyst reports. Stifel Nicolaus upped 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. Susquehanna began coverage on shares of Parker-Hannifin in a research report on Friday, August 15th. They set a "positive" rating and a $860.00 price objective on the stock. Raymond James Financial raised their price objective on shares of Parker-Hannifin from $735.00 to $845.00 and gave the company an "outperform" rating in a research report on Friday, August 8th. Barclays raised their price objective on shares of Parker-Hannifin from $750.00 to $776.00 and gave the company an "overweight" rating in a research report on Friday, August 8th. Finally, Wall Street Zen cut shares of Parker-Hannifin from a "buy" rating to a "hold" rating in a research report on Sunday. Thirteen investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $770.94.

Insiders Place Their Bets

In other Parker-Hannifin news, COO Andrew D. Ross sold 4,361 shares of the firm's stock in a transaction on Friday, August 8th. The shares were sold at an average price of $732.66, for a total value of $3,195,130.26. Following the sale, the chief operating officer owned 13,120 shares of the company's stock, valued at $9,612,499.20. This trade represents a 24.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Joseph R. Leonti sold 4,625 shares of the firm's stock in a transaction on Monday, August 25th. The stock was sold at an average price of $750.84, for a total transaction of $3,472,635.00. Following the completion of the sale, the executive vice president directly owned 13,878 shares in the company, valued at approximately $10,420,157.52. This trade represents a 25.00% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 14,039 shares of company stock worth $10,356,566. 0.39% of the stock is currently owned by insiders.

Parker-Hannifin Trading Up 0.2%

NYSE:PH traded up $1.67 during trading hours on Friday, reaching $758.63. The company's stock had a trading volume of 520,224 shares, compared to its average volume of 616,179. The firm has a market capitalization of $96.94 billion, a price-to-earnings ratio of 27.97, a PEG ratio of 3.14 and a beta of 1.35. The firm has a 50-day simple moving average of $731.05 and a 200-day simple moving average of $665.13. Parker-Hannifin Corporation has a 1 year low of $488.45 and a 1 year high of $773.30. 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 (NYSE:PH - Get Free Report) last issued its earnings results on Thursday, August 7th. The industrial products company reported $7.69 EPS for the quarter, topping analysts' consensus estimates of $7.08 by $0.61. The company 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%. The firm's revenue was up 1.1% compared to the same quarter last year. 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. Research analysts expect that Parker-Hannifin Corporation will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

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