USS Investment Management Ltd Sells 8,800 Shares of Parker-Hannifin Corporation $PH

Key Points

• USS Investment Management Ltd decreased its stake in Parker-Hannifin Corporation by 28%, owning 22,635 shares valued at approximately $13.76 million at the end of the quarter.
• The company reported earnings of $7.69 per share, exceeding estimates, with a revenue of $5.24 billion for the recent quarter.
• Parker-Hannifin has announced a quarterly dividend of $1.80 per share, payable on September 12th, with a current yield of 0.9%.

USS Investment Management Ltd lowered its stake in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 28.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,635 shares of the industrial products company's stock after selling 8,800 shares during the quarter. USS Investment Management Ltd's holdings in Parker-Hannifin were worth $13,757,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. First Manhattan CO. LLC. lifted its holdings in shares of Parker-Hannifin by 1.0% in the fourth quarter. First Manhattan CO. LLC. now owns 1,580 shares of the industrial products company's stock worth $1,005,000 after acquiring an additional 15 shares during the last quarter. Cascade Financial Partners LLC lifted its holdings in shares of Parker-Hannifin by 3.1% in the first quarter. Cascade Financial Partners LLC now owns 498 shares of the industrial products company's stock worth $303,000 after acquiring an additional 15 shares during the last quarter. Nicolet Advisory Services LLC lifted its holdings in shares of Parker-Hannifin by 3.5% in the first quarter. Nicolet Advisory Services LLC now owns 468 shares of the industrial products company's stock worth $262,000 after acquiring an additional 16 shares during the last quarter. E Fund Management Co. Ltd. lifted its holdings in shares of Parker-Hannifin by 5.0% in the first quarter. E Fund Management Co. Ltd. now owns 336 shares of the industrial products company's stock worth $204,000 after acquiring an additional 16 shares during the last quarter. Finally, Citizens National Bank Trust Department lifted its holdings in shares of Parker-Hannifin by 8.5% in the first quarter. Citizens National Bank Trust Department now owns 217 shares of the industrial products company's stock worth $132,000 after acquiring an additional 17 shares during the last quarter. Institutional investors own 82.44% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Susquehanna assumed coverage on Parker-Hannifin in a research note on Friday, August 15th. They issued a "positive" rating and a $860.00 price objective for the company. Morgan Stanley upped their price objective on Parker-Hannifin from $700.00 to $725.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 9th. Stifel Nicolaus upped their price objective on Parker-Hannifin from $717.00 to $726.00 and gave the company a "hold" rating in a research note on Friday, August 8th. KeyCorp upped their price objective on Parker-Hannifin from $790.00 to $810.00 and gave the company an "overweight" rating in a research note on Friday, August 8th. Finally, Evercore ISI reaffirmed an "outperform" rating on shares of Parker-Hannifin in a research note on Tuesday, August 19th. Thirteen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, Parker-Hannifin has a consensus rating of "Moderate Buy" and an average target price of $770.94.

Insider Activity

In other Parker-Hannifin news, VP Angela R. Ives sold 810 shares of the stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $727.36, for a total transaction of $589,161.60. Following the transaction, the vice president directly owned 2,798 shares in the company, valued at approximately $2,035,153.28. This represents a 22.45% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Joseph R. Leonti sold 4,625 shares of the stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $750.84, for a total value of $3,472,635.00. Following the transaction, the executive vice president owned 13,878 shares in the company, valued at $10,420,157.52. The trade was a 25.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 14,039 shares of company stock worth $10,356,566. Company insiders own 0.39% of the company's stock.

Parker-Hannifin Trading Down 1.0%

NYSE:PH traded down $7.52 on Friday, reaching $762.15. 177,534 shares of the stock traded hands, compared to its average volume of 736,620. The firm has a market capitalization of $97.39 billion, a price-to-earnings ratio of 28.12, a price-to-earnings-growth ratio of 3.17 and a beta of 1.35. The company's 50 day moving average is $735.40 and its 200-day moving average is $667.65. 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 Corporation has a 1-year low of $488.45 and a 1-year 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 earnings per share for the quarter, beating analysts' consensus estimates of $7.08 by $0.61. The business had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.10 billion. Parker-Hannifin had a net margin of 17.79% and a return on equity of 26.80%. The company's revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $6.77 EPS. 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 firm also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Tuesday, September 2nd will be issued a dividend of $1.80 per share. This represents a $7.20 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Tuesday, September 2nd. Parker-Hannifin's dividend 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.