Parker-Hannifin Corporation $PH Shares Sold by Brookstone Capital Management

Key Points

• Brookstone Capital Management trimmed its Parker-Hannifin stake by 15.3% in the first quarter, selling 1,596 shares and leaving it with 8,810 shares worth about $7.89 million.
• Parker-Hannifin reported strong quarterly results, with EPS of $8.17 beating estimates and revenue of $5.49 billion also topping expectations; revenue rose 10.6% year over year.
• The company raised its quarterly dividend to $2.00 per share from $1.80, while analysts currently rate the stock a “Moderate Buy” with a consensus price target of about $1,021.05.

Brookstone Capital Management cut its position in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 15.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,810 shares of the industrial products company's stock after selling 1,596 shares during the period. Brookstone Capital Management's holdings in Parker-Hannifin were worth $7,887,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PH. Roble Belko & Company Inc increased its holdings in Parker-Hannifin by 200.0% in the first quarter. Roble Belko & Company Inc now owns 75 shares of the industrial products company's stock valued at $67,000 after buying an additional 50 shares in the last quarter. Lee Johnson Capital Management LLC boosted its stake in shares of Parker-Hannifin by 9.9% during the 1st quarter. Lee Johnson Capital Management LLC now owns 680 shares of the industrial products company's stock worth $609,000 after acquiring an additional 61 shares in the last quarter. Smith Salley Wealth Management boosted its stake in shares of Parker-Hannifin by 10.8% during the 1st quarter. Smith Salley Wealth Management now owns 2,030 shares of the industrial products company's stock worth $1,817,000 after acquiring an additional 198 shares in the last quarter. Evolve Private Wealth LLC grew its position in shares of Parker-Hannifin by 35.7% during the 1st quarter. Evolve Private Wealth LLC now owns 924 shares of the industrial products company's stock valued at $827,000 after acquiring an additional 243 shares during the period. Finally, Vaughan Nelson Investment Management L.P. grew its position in shares of Parker-Hannifin by 2.4% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 43,187 shares of the industrial products company's stock valued at $38,663,000 after acquiring an additional 1,005 shares during the period. Institutional investors and hedge funds own 82.44% of the company's stock.

Parker-Hannifin Price Performance

Shares of Parker-Hannifin stock opened at $949.91 on Wednesday. The stock has a market capitalization of $119.77 billion, a P/E ratio of 35.04, a PEG ratio of 2.80 and a beta of 1.14. The business has a 50 day simple moving average of $908.47 and a two-hundred day simple moving average of $923.11. Parker-Hannifin Corporation has a 12 month low of $664.95 and a 12 month high of $1,034.96. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.13 and a quick ratio of 0.66.

Parker-Hannifin (NYSE:PH - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The industrial products company reported $8.17 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $7.84 by $0.33. Parker-Hannifin had a return on equity of 27.97% and a net margin of 16.58%.The firm had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.40 billion. During the same period in the previous year, the company posted $6.94 earnings per share. The business's revenue was up 10.6% on a year-over-year basis. Parker-Hannifin has set its FY 2026 guidance at 31.200-31.200 EPS. As a group, analysts predict that Parker-Hannifin Corporation will post 31.26 EPS for the current fiscal year.

Parker-Hannifin Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Friday, May 8th were paid a dividend of $2.00 per share. This is a boost from Parker-Hannifin's previous quarterly dividend of $1.80. The ex-dividend date of this dividend was Friday, May 8th. This represents a $8.00 annualized dividend and a yield of 0.8%. Parker-Hannifin's dividend payout ratio is presently 29.51%.

Analysts Set New Price Targets

PH has been the subject of a number of analyst reports. JPMorgan Chase & Co. reduced their price target on Parker-Hannifin from $1,100.00 to $1,060.00 and set an "overweight" rating for the company in a report on Thursday, May 7th. Weiss Ratings reissued a "buy (b)" rating on shares of Parker-Hannifin in a report on Tuesday, April 21st. Mizuho set a $1,050.00 price objective on Parker-Hannifin in a research report on Friday, May 1st. Sanford C. Bernstein began coverage on Parker-Hannifin in a research note on Tuesday, June 9th. They set an "outperform" rating and a $1,026.00 target price for the company. Finally, Wall Street Zen lowered Parker-Hannifin from a "buy" rating to a "hold" rating in a research report on Saturday, June 6th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Parker-Hannifin currently has an average rating of "Moderate Buy" and a consensus price target of $1,021.05.

Parker-Hannifin Profile

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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