Parker-Hannifin Corporation $PH Shares Sold by Fifth Third Bancorp

Key Points

• Fifth Third Bancorp has reduced its stake in Parker-Hannifin Corporation by 3.2%, now owning approximately 0.12% of the company, valued at $108.78 million.
• Analyst ratings for Parker-Hannifin suggest a positive outlook, with the average target price set at $770.94 and a consensus rating of "Moderate Buy."
• Parker-Hannifin reported a quarterly earnings result of $7.69 per share, exceeding estimates and reflecting a 1.1% year-over-year revenue increase to $5.24 billion.

Fifth Third Bancorp reduced its stake in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 3.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 155,738 shares of the industrial products company's stock after selling 5,115 shares during the period. Fifth Third Bancorp owned approximately 0.12% of Parker-Hannifin worth $108,778,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Brighton Jones LLC raised its stake in Parker-Hannifin by 5.9% in the fourth quarter. Brighton Jones LLC now owns 1,808 shares of the industrial products company's stock valued at $1,150,000 after buying an additional 101 shares in the last quarter. Bank Pictet & Cie Europe AG raised its stake in Parker-Hannifin by 0.8% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 7,259 shares of the industrial products company's stock valued at $4,617,000 after buying an additional 55 shares in the last quarter. Bison Wealth LLC raised its stake in Parker-Hannifin by 4.5% in the fourth quarter. Bison Wealth LLC now owns 749 shares of the industrial products company's stock valued at $476,000 after buying an additional 32 shares in the last quarter. Voloridge Investment Management LLC acquired a new stake in Parker-Hannifin in the fourth quarter valued at $5,077,000. Finally, Armis Advisers LLC acquired a new stake in Parker-Hannifin in the fourth quarter valued at $238,000. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PH has been the topic of a number of analyst reports. Susquehanna initiated coverage on Parker-Hannifin in a research note on Friday, August 15th. They issued a "positive" rating and a $860.00 price target on the stock. Stifel Nicolaus raised their price target on Parker-Hannifin from $717.00 to $726.00 and gave the company a "hold" rating in a research note on Friday, August 8th. Wall Street Zen upgraded Parker-Hannifin from a "hold" rating to a "buy" rating in a research report on Saturday. Barclays lifted their target price on Parker-Hannifin from $750.00 to $776.00 and gave the stock an "overweight" rating in a research report on Friday, August 8th. Finally, KeyCorp lifted their target price on Parker-Hannifin from $790.00 to $810.00 and gave the stock an "overweight" rating in a research report on Friday, August 8th. Thirteen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $770.94.

Parker-Hannifin Price Performance

Shares of PH opened at $760.51 on Wednesday. Parker-Hannifin Corporation has a twelve month low of $488.45 and a twelve month high of $779.77. The stock's 50 day moving average is $742.51 and its two-hundred day moving average is $673.83. The firm has a market capitalization of $96.24 billion, a PE ratio of 28.04, a P/E/G ratio of 3.15 and a beta of 1.35. The company has a current ratio of 1.19, a quick ratio of 0.71 and a debt-to-equity ratio of 0.55.

Parker-Hannifin (NYSE:PH - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The industrial products company reported $7.69 earnings per share for the quarter, beating 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 analyst estimates of $5.10 billion. During the same quarter in the previous year, the company earned $6.77 EPS. The firm's revenue for the quarter 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. Research analysts anticipate that Parker-Hannifin Corporation will post 26.71 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Tuesday, September 2nd were paid 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 payout ratio is 26.55%.

Insider Buying and Selling at Parker-Hannifin

In other news, VP Robert W. Malone sold 2,257 shares of the business's stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $730.66, for a total transaction of $1,649,099.62. Following the sale, the vice president owned 5,866 shares of the company's stock, valued at $4,286,051.56. The trade was a 27.79% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Andrew D. Ross sold 4,361 shares of the business's stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $732.66, for a total value of $3,195,130.26. Following the sale, the chief operating officer directly owned 13,120 shares in the company, valued at $9,612,499.20. This trade represents a 24.95% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 14,039 shares of company stock worth $10,356,566. Corporate insiders own 0.39% of the company's stock.

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.

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