Carderock Capital Management Inc. Decreases Stake in Parker-Hannifin Corporation $PH

Key Points

• Carderock Capital Management Inc. reduced its stake in Parker-Hannifin by 19.6%, now holding 11,160 shares valued at $7.795 million, which constitutes about 2.0% of its total holdings.
• Parker-Hannifin's stock has seen a 2.3% increase, reaching $755.68, with the stock having a market cap of $96.56 billion and a P/E ratio of 27.86.
• The company reported earnings of $7.69 per share for the latest quarter, exceeding expectations, with a year-over-year revenue increase of 1.1%.

Carderock Capital Management Inc. decreased its position in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 19.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,160 shares of the industrial products company's stock after selling 2,723 shares during the quarter. Parker-Hannifin accounts for approximately 2.0% of Carderock Capital Management Inc.'s investment portfolio, making the stock its 25th largest position. Carderock Capital Management Inc.'s holdings in Parker-Hannifin were worth $7,795,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of PH. GAMMA Investing LLC lifted its position in Parker-Hannifin by 66,111.8% during the first quarter. GAMMA Investing LLC now owns 1,735,412 shares of the industrial products company's stock worth $1,054,870,000 after purchasing an additional 1,732,791 shares during the period. Nuveen LLC bought a new stake in Parker-Hannifin during the first quarter worth about $933,089,000. Price T Rowe Associates Inc. MD lifted its position in Parker-Hannifin by 52.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,443,104 shares of the industrial products company's stock worth $1,485,042,000 after purchasing an additional 842,262 shares during the period. Wellington Management Group LLP lifted its position in Parker-Hannifin by 11.6% during the first quarter. Wellington Management Group LLP now owns 2,009,250 shares of the industrial products company's stock worth $1,221,323,000 after purchasing an additional 208,573 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Parker-Hannifin by 23.8% in the first quarter. Goldman Sachs Group Inc. now owns 996,738 shares of the industrial products company's stock worth $605,867,000 after acquiring an additional 191,799 shares during the last quarter. Institutional investors own 82.44% of the company's stock.

Insider Activity

In other news, VP Matthew A. Jacobson sold 575 shares of the firm's stock in a transaction on Friday, August 8th. The stock was sold at an average price of $733.06, for a total transaction of $421,509.50. Following the completion of the sale, the vice president directly owned 1,000 shares of the company's stock, valued at $733,060. This trade represents a 36.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Joseph R. Leonti sold 4,625 shares of the company's stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $750.84, for a total value of $3,472,635.00. Following the completion of the transaction, the executive vice president owned 13,878 shares in the company, valued at approximately $10,420,157.52. The trade was a 25.00% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 14,039 shares of company stock worth $10,356,566. 0.39% of the stock is owned by insiders.

Parker-Hannifin Stock Up 0.7%

Shares of PH traded up $5.22 during trading hours on Monday, reaching $760.90. The stock had a trading volume of 255,266 shares, compared to its average volume of 735,675. Parker-Hannifin Corporation has a 12 month low of $488.45 and a 12 month high of $779.77. The firm has a 50-day simple moving average of $740.49 and a 200 day simple moving average of $672.35. The company has a current ratio of 1.19, a quick ratio of 0.71 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $97.23 billion, a price-to-earnings ratio of 28.06, a P/E/G ratio of 3.13 and a beta of 1.35.

Parker-Hannifin (NYSE:PH - Get Free Report) last issued its earnings results on Thursday, August 7th. The industrial products company reported $7.69 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $7.08 by $0.61. Parker-Hannifin had a return on equity of 26.80% and a net margin of 17.79%.The company had revenue of $5.24 billion for the quarter, compared to analysts' expectations of $5.10 billion. During the same period last year, the business earned $6.77 EPS. Parker-Hannifin's quarterly 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. Equities research analysts predict that Parker-Hannifin Corporation will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

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

Analysts Set New Price Targets

A number of research firms have recently commented on PH. Deutsche Bank Aktiengesellschaft cut shares of Parker-Hannifin from a "buy" rating to a "hold" rating and set a $809.00 target price for the company. in a report on Thursday, September 4th. Stifel Nicolaus increased 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. Raymond James Financial increased their target price on shares of Parker-Hannifin from $735.00 to $845.00 and gave the stock an "outperform" rating in a report on Friday, August 8th. KeyCorp upped their price objective on Parker-Hannifin from $790.00 to $810.00 and gave the company an "overweight" rating in a research note on Friday, August 8th. Finally, Citigroup reaffirmed a "buy" rating and issued a $831.00 price objective (up previously from $709.00) on shares of Parker-Hannifin in a research note on Monday, July 14th. Thirteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, Parker-Hannifin currently has an average rating of "Moderate Buy" and a consensus target price of $770.94.

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.