Parker-Hannifin Corporation $PH Shares Sold by Chevy Chase Trust Holdings LLC

Key Points

• Chevy Chase Trust reduced its stake in Parker‑Hannifin by 3.4%, selling 2,281 shares and leaving it with 65,454 shares valued at $49.62M, while institutional investors hold 82.44% of the stock.
• Insiders sold 10,063 shares worth $9.89M in the last quarter, including CFO Todd Leombruno’s sale of 2,062 shares (~$2.07M) and COO Andrew Ross’s sale of 4,664 shares (~$4.66M), materially reducing their holdings.
• Parker‑Hannifin beat quarterly EPS ($7.65 vs. $7.11) and revenue, and analysts remain positive with a consensus rating of "Moderate Buy" and an average price target of $995.37 (several firms raising targets to $1,050–$1,100).

Chevy Chase Trust Holdings LLC lessened its stake in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 3.4% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 65,454 shares of the industrial products company's stock after selling 2,281 shares during the period. Chevy Chase Trust Holdings LLC owned 0.05% of Parker-Hannifin worth $49,624,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its stake in shares of Parker-Hannifin by 5.9% in the 4th quarter. Brighton Jones LLC now owns 1,808 shares of the industrial products company's stock valued at $1,150,000 after purchasing an additional 101 shares during the last quarter. Bison Wealth LLC lifted its stake in Parker-Hannifin by 4.5% during the fourth quarter. Bison Wealth LLC now owns 749 shares of the industrial products company's stock worth $476,000 after purchasing an additional 32 shares in the last quarter. Empowered Funds LLC boosted its position in shares of Parker-Hannifin by 0.5% during the first quarter. Empowered Funds LLC now owns 2,894 shares of the industrial products company's stock worth $1,759,000 after buying an additional 15 shares during the period. Acadian Asset Management LLC lifted its stake in Parker-Hannifin by 26.2% during the 1st quarter. Acadian Asset Management LLC now owns 799 shares of the industrial products company's stock worth $484,000 after acquiring an additional 166 shares in the last quarter. Finally, Sivia Capital Partners LLC lifted its position in shares of Parker-Hannifin by 3.6% during the second quarter. Sivia Capital Partners LLC now owns 430 shares of the industrial products company's stock worth $300,000 after purchasing an additional 15 shares in the last quarter. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have commented on PH shares. Robert W. Baird set a $1,050.00 price target on shares of Parker-Hannifin in a research report on Friday, January 30th. Wall Street Zen raised Parker-Hannifin from a "hold" rating to a "buy" rating in a research report on Wednesday, February 4th. KeyCorp restated an "overweight" rating and set a $1,100.00 target price on shares of Parker-Hannifin in a research note on Friday, January 30th. Wells Fargo & Company raised their target price on shares of Parker-Hannifin from $1,000.00 to $1,050.00 and gave the company an "overweight" rating in a report on Friday, January 30th. Finally, Citigroup lifted their price target on shares of Parker-Hannifin from $1,074.00 to $1,092.00 and gave the stock a "buy" rating in a research note on Friday, January 30th. Sixteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $995.37.

Insider Activity at Parker-Hannifin

In related news, CFO Todd M. Leombruno sold 2,062 shares of the stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $1,002.34, for a total value of $2,066,825.08. Following the transaction, the chief financial officer directly owned 20,610 shares of the company's stock, valued at $20,658,227.40. This trade represents a 9.09% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Andrew D. Ross sold 4,664 shares of Parker-Hannifin stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $999.00, for a total transaction of $4,659,336.00. Following the sale, the chief operating officer owned 13,120 shares in the company, valued at $13,106,880. This represents a 26.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 10,063 shares of company stock valued at $9,891,214 in the last quarter. Company insiders own 0.32% of the company's stock.

Parker-Hannifin Trading Down 1.3%

NYSE:PH opened at $890.28 on Monday. The stock has a 50-day simple moving average of $959.64 and a 200-day simple moving average of $859.42. The stock has a market cap of $112.37 billion, a P/E ratio of 32.47, a P/E/G ratio of 2.87 and a beta of 1.23. Parker-Hannifin Corporation has a 1 year low of $488.45 and a 1 year high of $1,034.96. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.66 and a current ratio of 1.18.

Parker-Hannifin (NYSE:PH - Get Free Report) last issued its earnings results on Thursday, January 29th. The industrial products company reported $7.65 earnings per share for the quarter, topping the consensus estimate of $7.11 by $0.54. The business had revenue of $5.17 billion for the quarter, compared to analyst estimates of $5.07 billion. Parker-Hannifin had a return on equity of 27.56% and a net margin of 17.29%.The business's quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter last year, the company earned $6.53 EPS. As a group, analysts anticipate that Parker-Hannifin Corporation will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 6th. Shareholders of record on Friday, February 6th were paid a $1.80 dividend. This represents a $7.20 annualized dividend and a yield of 0.8%. The ex-dividend date was Friday, February 6th. Parker-Hannifin's dividend payout ratio is currently 26.26%.

Parker-Hannifin Company 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.

Want to see what other hedge funds are holding PH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Parker-Hannifin Corporation (NYSE:PH - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.