Parker-Hannifin Corporation $PH Shares Sold by Sumitomo Mitsui Trust Group Inc.

Key Points

• Sumitomo Mitsui Trust Group reduced its Parker-Hannifin stake by 3.9%, selling 10,449 shares and retaining 259,971 shares worth approximately $248.4 million. Institutional investors collectively own 82.44% of the company.
• Analyst sentiment remains positive, with 18 Buy ratings and five Holds producing a “Moderate Buy” consensus and an average price target of $1,146.35.
• Parker-Hannifin exceeded quarterly expectations with $9.27 in EPS and $5.75 billion in revenue, while declaring a quarterly dividend of $2 per share, equivalent to an annualized yield of about 0.9%.

Sumitomo Mitsui Trust Group Inc. lowered its stake in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 3.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 259,971 shares of the industrial products company's stock after selling 10,449 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.21% of Parker-Hannifin worth $248,381,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the business. Polaris Financial Partners acquired a new stake in Parker-Hannifin in the 3rd quarter worth about $26,000. Archer Investment Corp acquired a new stake in Parker-Hannifin during the 2nd quarter worth approximately $28,000. Latitude Advisors LLC bought a new position in shares of Parker-Hannifin during the third quarter valued at $27,000. Pension & Wealth Management Advisors Inc. bought a new position in shares of Parker-Hannifin during the third quarter valued at $30,000. Finally, North Star Investment Management Corp. lifted its holdings in shares of Parker-Hannifin by 120.0% during the third quarter. North Star Investment Management Corp. now owns 33 shares of the industrial products company's stock worth $32,000 after purchasing an additional 18 shares during the period. Institutional investors own 82.44% of the company's stock.

Insider Buying and Selling

In related news, VP Berend Bracht sold 602 shares of the company's stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $1,040.47, for a total transaction of $626,362.94. Following the completion of the transaction, the vice president owned 4,399 shares in the company, valued at $4,577,027.53. This represents a 12.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.35% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. BNP Paribas Exane boosted their price objective on Parker-Hannifin from $1,220.00 to $1,270.00 and gave the company an "outperform" rating in a report on Friday, September 18th. Mizuho set a $1,200.00 target price on shares of Parker-Hannifin in a research report on Thursday, October 15th. Argus boosted their target price on Parker-Hannifin from $1,030.00 to $1,200.00 and gave the stock a "buy" rating in a research note on Monday, August 10th. Wall Street Zen raised Parker-Hannifin from a "hold" rating to a "buy" rating in a research report on Saturday, October 24th. Finally, UBS Group set a $950.00 price target on Parker-Hannifin in a report on Wednesday, October 14th. Eighteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $1,146.35.

Parker-Hannifin Stock Performance

Shares of PH stock opened at $898.73 on Monday. The firm has a market capitalization of $113.34 billion, a P/E ratio of 31.55, a P/E/G ratio of 2.51 and a beta of 1.12. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.26 and a quick ratio of 0.74. Parker-Hannifin Corporation has a 12 month low of $755.10 and a 12 month high of $1,099.94. The company's fifty day moving average price is $956.18 and its two-hundred day moving average price is $949.73.

Parker-Hannifin (NYSE:PH - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The industrial products company reported $9.27 EPS for the quarter, beating analysts' consensus estimates of $8.31 by $0.96. Parker-Hannifin had a return on equity of 28.48% and a net margin of 16.97%. The company had revenue of $5.75 billion for the quarter, compared to analyst estimates of $5.57 billion. During the same period last year, the company earned $7.69 earnings per share. The company's quarterly revenue was up 9.8% compared to the same quarter last year. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. On average, research analysts anticipate that Parker-Hannifin Corporation will post 35.72 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 4th. Shareholders of record on Friday, November 13th will be issued a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 0.9%. The ex-dividend date is Friday, November 13th. Parker-Hannifin's dividend payout ratio (DPR) is 28.08%.

About Parker-Hannifin

Parker-Hannifin Corporation is a diversified manufacturer of motion and control technologies and systems. The company serves aerospace, industrial, and other specialized markets with products designed to control the movement and flow of liquids and gases, as well as mechanical motion and power.

Its product portfolio includes hydraulic and pneumatic systems, filtration and process-control equipment, electromechanical technologies, sealing and shielding products, connectors, pumps, valves, and related components.

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