First Long Island Investors LLC Sells 5,808 Shares of Parker-Hannifin Corporation $PH

Key Points

• First Long Island Investors LLC reduced its holdings in Parker-Hannifin Corporation by 8.7%, selling 5,808 shares and now owning 60,718 shares valued at approximately $36.9 million.
• The industrial products company reported $7.69 earnings per share (EPS) for the previous quarter, exceeding analysts' expectations of $7.08, with a revenue of $5.24 billion.
• Parker-Hannifin recently announced a quarterly dividend of $1.80 per share, with a yield of 0.9% and plans for an annualized payout of $7.20.

First Long Island Investors LLC trimmed its stake in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 8.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 60,718 shares of the industrial products company's stock after selling 5,808 shares during the period. Parker-Hannifin makes up 3.0% of First Long Island Investors LLC's investment portfolio, making the stock its 8th largest holding. First Long Island Investors LLC's holdings in Parker-Hannifin were worth $36,907,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the stock. GAMMA Investing LLC boosted its stake in Parker-Hannifin by 66,111.8% during the 1st 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 acquired a new stake in Parker-Hannifin during the 1st quarter worth $933,089,000. Royal Bank of Canada boosted its stake in Parker-Hannifin by 99.8% during the 4th quarter. Royal Bank of Canada now owns 2,277,001 shares of the industrial products company's stock worth $1,448,241,000 after purchasing an additional 1,137,564 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Parker-Hannifin by 52.6% during the 1st 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. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Parker-Hannifin by 44.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 865,970 shares of the industrial products company's stock worth $550,783,000 after purchasing an additional 265,768 shares during the period. 82.44% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Parker-Hannifin news, VP Thomas C. Gentile sold 1,133 shares of the firm's stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $729.50, for a total transaction of $826,523.50. Following the completion of the transaction, the vice president directly owned 5,465 shares in the company, valued at approximately $3,986,717.50. This trade represents a 17.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Andrew D. Ross sold 4,361 shares of Parker-Hannifin stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $732.66, for a total transaction of $3,195,130.26. Following the sale, the chief operating officer owned 13,120 shares of the company's stock, valued at approximately $9,612,499.20. This trade represents a 24.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 14,039 shares of company stock worth $10,356,566 in the last three months. Company insiders own 0.39% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Morgan Stanley increased their price target on shares of Parker-Hannifin from $700.00 to $725.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 9th. Stifel Nicolaus raised their target price on shares of Parker-Hannifin from $717.00 to $726.00 and gave the stock a "hold" rating in a research note on Friday, August 8th. Wall Street Zen cut shares of Parker-Hannifin from a "buy" rating to a "hold" rating in a research note on Sunday, September 7th. Raymond James Financial raised their target price on shares of Parker-Hannifin from $735.00 to $845.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. Finally, Citigroup restated a "buy" rating and issued a $831.00 target price (up previously from $709.00) on shares of Parker-Hannifin in a research note on Monday, July 14th. Thirteen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $770.94.

Parker-Hannifin Price Performance

Shares of NYSE PH traded up $1.47 during midday trading on Monday, hitting $760.25. The company had a trading volume of 544,489 shares, compared to its average volume of 737,215. The company has a quick ratio of 0.71, a current ratio of 1.19 and a debt-to-equity ratio of 0.55. Parker-Hannifin Corporation has a twelve month low of $488.45 and a twelve month high of $779.77. The business has a 50-day simple moving average of $736.22 and a two-hundred day simple moving average of $668.50. The firm has a market capitalization of $97.14 billion, a price-to-earnings ratio of 28.03, a price-to-earnings-growth ratio of 3.14 and a beta of 1.35.

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

Parker-Hannifin Dividend Announcement

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

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.