Parker-Hannifin Corporation $PH Shares Sold by Wesbanco Bank Inc.

Key Points

• Wesbanco Bank Inc. cut its Parker-Hannifin stake by 9.4% in the fourth quarter, selling 3,000 shares and ending with 29,060 shares valued at about $25.5 million.
• Parker-Hannifin reported strong quarterly results, with EPS of $8.17 beating estimates and revenue of $5.49 billion topping expectations; revenue rose 10.6% from a year earlier.
• The company raised its quarterly dividend to $2.00 per share from $1.80, while analysts remain broadly positive with a consensus Moderate Buy rating and average price target of $1,010.45.

Wesbanco Bank Inc. lowered its position in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 9.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 29,060 shares of the industrial products company's stock after selling 3,000 shares during the period. Wesbanco Bank Inc.'s holdings in Parker-Hannifin were worth $25,543,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of PH. Procyon Advisors LLC raised its position in shares of Parker-Hannifin by 158,565.9% in the third quarter. Procyon Advisors LLC now owns 5,069,374 shares of the industrial products company's stock worth $3,843,346,000 after acquiring an additional 5,066,179 shares during the period. Capital World Investors raised its position in shares of Parker-Hannifin by 7.0% in the third quarter. Capital World Investors now owns 2,584,141 shares of the industrial products company's stock worth $1,959,166,000 after acquiring an additional 169,073 shares during the period. PFA Pension Forsikringsaktieselskab acquired a new position in shares of Parker-Hannifin in the fourth quarter worth about $104,040,000. California Public Employees Retirement System raised its position in shares of Parker-Hannifin by 51.3% in the third quarter. California Public Employees Retirement System now owns 336,247 shares of the industrial products company's stock worth $254,926,000 after acquiring an additional 114,008 shares during the period. Finally, Freestone Grove Partners LP acquired a new position in shares of Parker-Hannifin in the third quarter worth about $86,046,000. Institutional investors and hedge funds own 82.44% of the company's stock.

Parker-Hannifin Stock Down 1.0%

PH opened at $878.24 on Friday. Parker-Hannifin Corporation has a twelve month low of $637.21 and a twelve month high of $1,034.96. The company has a quick ratio of 0.66, a current ratio of 1.13 and a debt-to-equity ratio of 0.46. The company has a 50-day moving average price of $940.31 and a 200 day moving average price of $906.44. The company has a market cap of $110.85 billion, a PE ratio of 32.40, a price-to-earnings-growth ratio of 2.84 and a beta of 1.18.

Parker-Hannifin (NYSE:PH - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The industrial products company reported $8.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.84 by $0.33. Parker-Hannifin had a net margin of 16.58% and a return on equity of 27.97%. The company had revenue of $5.49 billion during the quarter, compared to analysts' expectations of $5.40 billion. During the same quarter in the prior year, the company earned $6.94 EPS. Parker-Hannifin's revenue was up 10.6% compared to the same quarter last year. Parker-Hannifin has set its FY 2026 guidance at 31.200-31.200 EPS. Sell-side analysts expect that Parker-Hannifin Corporation will post 31.15 earnings per share for the current fiscal year.

Parker-Hannifin Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 5th. Investors of record on Friday, May 8th will be paid a dividend of $2.00 per share. The ex-dividend date of this dividend is Friday, May 8th. This represents a $8.00 annualized dividend and a yield of 0.9%. This is a boost from Parker-Hannifin's previous quarterly dividend of $1.80. Parker-Hannifin's dividend payout ratio is currently 26.56%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PH. The Goldman Sachs Group reiterated a "buy" rating on shares of Parker-Hannifin in a research report on Thursday, January 29th. Jefferies Financial Group upped their price target on shares of Parker-Hannifin from $1,050.00 to $1,100.00 and gave the stock a "buy" rating in a research report on Friday, January 30th. Citigroup upped their price target on shares of Parker-Hannifin from $1,137.00 to $1,141.00 and gave the stock a "buy" rating in a research report on Friday, May 1st. iA Financial set a $1,032.00 price target on shares of Parker-Hannifin in a research report on Thursday, January 29th. Finally, Morgan Stanley upped their price target on shares of Parker-Hannifin from $945.00 to $1,038.00 and gave the stock an "equal weight" rating in a research report on Tuesday, February 24th. Seventeen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $1,010.45.

Insider Buying and Selling

In other Parker-Hannifin news, CFO Todd M. Leombruno sold 2,062 shares of the company's stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $1,002.34, for a total value of $2,066,825.08. Following the completion of the sale, the chief financial officer directly owned 20,610 shares in the company, valued at $20,658,227.40. This represents a 9.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Andrew D. Ross sold 4,664 shares of the company's stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $999.00, for a total value of $4,659,336.00. Following the completion of the sale, the chief operating officer owned 13,120 shares of the company's stock, valued at approximately $13,106,880. The trade was a 26.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.32% of the company's stock.

About Parker-Hannifin

Parker-Hannifin Corporation NYSE: PH is a global manufacturer and provider of motion and control technologies and systems. The company designs, manufactures and services a broad range of engineered components and systems used to control the movement and flow of liquids, gases and hydraulic power. Its product portfolio is applied across demanding environments and includes solutions for industrial manufacturing, aerospace, mobile equipment and other engineered applications.

Parker-Hannifin's product and service offerings span hydraulic and pneumatic components, fittings and fluid connectors, valves, pumps and motors, electromechanical actuators and motion-control systems, filtration and separation products, and seals and sealing systems.

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