Parker-Hannifin Corporation $PH Shares Sold by Generali Asset Management SPA SGR

Key Points

• Generali Asset Management SPA SGR has reduced its stake in Parker-Hannifin Corporation by 16.7%, owning 9,715 shares worth approximately $6.79 million after selling 1,953 shares in the second quarter.
• Analysts have a generally positive outlook on Parker-Hannifin, with Barclays and KeyCorp raising their price targets to $785.00 and $825.00 respectively, while the consensus target price is set at $787.61.
• Parker-Hannifin recently declared a $1.80 quarterly dividend, representing an annualized yield of 1.0% and a payout ratio of 26.55%.

Generali Asset Management SPA SGR reduced its position in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 16.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,715 shares of the industrial products company's stock after selling 1,953 shares during the period. Generali Asset Management SPA SGR's holdings in Parker-Hannifin were worth $6,786,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in PH. Tuttle Capital Management LLC grew its position in Parker-Hannifin by 14.9% in the second quarter. Tuttle Capital Management LLC now owns 972 shares of the industrial products company's stock worth $679,000 after buying an additional 126 shares during the last quarter. Granite Group Advisors LLC acquired a new position in shares of Parker-Hannifin in the 2nd quarter worth $221,000. Sagespring Wealth Partners LLC grew its holdings in shares of Parker-Hannifin by 11.0% in the 2nd quarter. Sagespring Wealth Partners LLC now owns 2,025 shares of the industrial products company's stock worth $1,414,000 after acquiring an additional 200 shares during the last quarter. RFG Advisory LLC grew its holdings in shares of Parker-Hannifin by 0.6% in the 2nd quarter. RFG Advisory LLC now owns 3,691 shares of the industrial products company's stock worth $2,578,000 after acquiring an additional 22 shares during the last quarter. Finally, Axxcess Wealth Management LLC grew its holdings in shares of Parker-Hannifin by 41.4% in the 2nd quarter. Axxcess Wealth Management LLC now owns 1,157 shares of the industrial products company's stock worth $808,000 after acquiring an additional 339 shares during the last quarter. Institutional investors and hedge funds own 82.44% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on PH shares. Barclays lifted their price target on Parker-Hannifin from $776.00 to $785.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 1st. Susquehanna began coverage on shares of Parker-Hannifin in a research report on Friday, August 15th. They issued a "positive" rating and a $860.00 target price on the stock. KeyCorp lifted their target price on shares of Parker-Hannifin from $810.00 to $825.00 and gave the stock an "overweight" rating in a research report on Tuesday. Evercore ISI reiterated an "outperform" rating on shares of Parker-Hannifin in a research report on Tuesday, August 19th. Finally, Wall Street Zen upgraded shares of Parker-Hannifin from a "hold" rating to a "buy" rating in a research report on Saturday, September 20th. Fourteen analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $787.61.

Insider Buying and Selling

In other Parker-Hannifin news, COO Andrew D. Ross sold 4,361 shares of the business's stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $732.66, for a total value of $3,195,130.26. Following the completion of the sale, the chief operating officer directly owned 13,120 shares of the company's stock, valued at $9,612,499.20. The trade was a 24.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Joseph R. Leonti sold 4,625 shares of the business's stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $750.84, for a total transaction of $3,472,635.00. Following the completion of the sale, the executive vice president directly owned 13,878 shares of the company's stock, valued at $10,420,157.52. This represents a 25.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 14,039 shares of company stock valued at $10,356,566. 0.32% of the stock is owned by company insiders.

Parker-Hannifin Trading Down 0.1%

Parker-Hannifin stock opened at $736.06 on Thursday. The company's fifty day simple moving average is $750.39 and its 200-day simple moving average is $687.48. 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 12 month low of $488.45 and a 12 month high of $779.77. The stock has a market cap of $93.14 billion, a P/E ratio of 27.14, a P/E/G ratio of 3.04 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 EPS 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 firm had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.10 billion. During the same quarter in the previous year, the company posted $6.77 earnings per share. The business'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. As a group, sell-side analysts forecast that Parker-Hannifin Corporation will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Tuesday, September 2nd were paid a $1.80 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $7.20 annualized dividend and a dividend yield of 1.0%. Parker-Hannifin's payout ratio is presently 26.55%.

Parker-Hannifin Company 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.

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 and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.