Parker-Hannifin Corporation $PH Shares Sold by Perfromance Wealth Partners LLC

Key Points

• Perfromance Wealth Partners LLC decreased its stake in Parker-Hannifin Corporation by 5.7%, now owning 6,297 shares worth approximately $4.4 million.
• Company insiders have sold 14,039 shares of Parker-Hannifin stock valued at over $10.3 million in the last ninety days.
• Parker-Hannifin reported an EPS of $7.69 for the last quarter, exceeding analyst estimates, alongside quarterly revenue of $5.24 billion, showing a year-over-year increase of 1.1%.

Perfromance Wealth Partners LLC cut its stake in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 5.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,297 shares of the industrial products company's stock after selling 380 shares during the period. Perfromance Wealth Partners LLC's holdings in Parker-Hannifin were worth $4,398,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Wealth Preservation Advisors LLC acquired a new position in Parker-Hannifin during the 1st quarter valued at about $27,000. Saudi Central Bank bought a new stake in shares of Parker-Hannifin during the first quarter valued at approximately $31,000. Olde Wealth Management LLC acquired a new position in shares of Parker-Hannifin during the first quarter worth approximately $35,000. Chilton Capital Management LLC boosted its position in shares of Parker-Hannifin by 1,500.0% during the first quarter. Chilton Capital Management LLC now owns 64 shares of the industrial products company's stock worth $39,000 after buying an additional 60 shares during the period. Finally, Accent Capital Management LLC acquired a new stake in Parker-Hannifin in the 1st quarter valued at approximately $41,000. Institutional investors and hedge funds own 82.44% of the company's stock.

Insider Activity at Parker-Hannifin

In other news, VP Matthew A. Jacobson sold 575 shares of the company'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 represents a 36.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Robert W. Malone sold 2,257 shares of the stock in a transaction on Friday, August 8th. The shares were sold at an average price of $730.66, for a total value of $1,649,099.62. Following the completion of the transaction, the vice president owned 5,866 shares of the company's stock, valued at $4,286,051.56. This trade represents a 27.79% decrease in their position. The disclosure for this sale can be found here. Insiders sold 14,039 shares of company stock valued at $10,356,566 over the last ninety days. Company insiders own 0.32% of the company's stock.

Parker-Hannifin Stock Performance

Shares of PH opened at $728.67 on Tuesday. The firm's 50 day moving average is $749.16 and its 200-day moving average is $686.79. The stock has a market capitalization of $92.21 billion, a P/E ratio of 26.87, a P/E/G ratio of 2.97 and a beta of 1.35. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.19 and a quick ratio of 0.71. Parker-Hannifin Corporation has a 12-month low of $488.45 and a 12-month high of $779.77.

Parker-Hannifin (NYSE:PH - Get Free Report) last released its earnings results 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. The business had revenue of $5.24 billion during the quarter, compared to analyst estimates of $5.10 billion. Parker-Hannifin had a net margin of 17.79% and a return on equity of 26.80%. The business's quarterly revenue was up 1.1% on a year-over-year basis. During the same period in the prior year, the business earned $6.77 earnings per share. 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 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

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

Analyst Ratings Changes

PH has been the subject of a number of analyst reports. Barclays boosted their price target on Parker-Hannifin from $776.00 to $785.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 1st. Citigroup upped their price objective on shares of Parker-Hannifin from $831.00 to $874.00 and gave the stock a "buy" rating in a report on Thursday. Stifel Nicolaus raised their target price on shares of 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 shares of Parker-Hannifin from a "hold" rating to a "buy" rating in a research report on Saturday, September 20th. Finally, Morgan Stanley increased their price objective on shares of Parker-Hannifin from $700.00 to $725.00 and gave the company an "equal weight" rating in a report on Wednesday, July 9th. Fourteen equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $786.78.

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.

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