Parker-Hannifin Corporation $PH Stock Sold by Inspire Investing LLC

Key Points

• Inspire Investing reduced its Parker-Hannifin stake by 13.6% in the third quarter, selling 3,438 shares and retaining 21,815 shares valued at approximately $20.8 million. Institutional investors and hedge funds collectively own 82.44% of PH.
• Wall Street remains generally positive on the stock, with 18 Buy ratings and five Hold ratings. Parker-Hannifin has a consensus “Moderate Buy” rating and an average price target of $1,146.35.
• Parker-Hannifin exceeded quarterly expectations, reporting EPS of $9.27 versus an $8.31 consensus estimate and revenue of $5.75 billion. The company also maintains a quarterly dividend of $2.00, equivalent to an annualized $8.00 payout and a 0.9% yield.

Inspire Investing LLC lessened its stake in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 13.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 21,815 shares of the industrial products company's stock after selling 3,438 shares during the period. Parker-Hannifin comprises approximately 0.9% of Inspire Investing LLC's investment portfolio, making the stock its 12th largest holding. Inspire Investing LLC's holdings in Parker-Hannifin were worth $20,842,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. XXI Wealth LLC lifted its position in shares of Parker-Hannifin by 8.0% in the third quarter. XXI Wealth LLC now owns 3,411 shares of the industrial products company's stock valued at $3,259,000 after buying an additional 254 shares during the last quarter. Seven Mile Advisory increased its holdings in shares of Parker-Hannifin by 13.1% during the 3rd quarter. Seven Mile Advisory now owns 311 shares of the industrial products company's stock worth $297,000 after acquiring an additional 36 shares during the last quarter. MBL Wealth LLC acquired a new position in shares of Parker-Hannifin during the 3rd quarter worth approximately $332,000. SeaCrest Wealth Management LLC increased its holdings in shares of Parker-Hannifin by 6.2% during the 3rd quarter. SeaCrest Wealth Management LLC now owns 1,570 shares of the industrial products company's stock worth $1,500,000 after acquiring an additional 91 shares during the last quarter. Finally, Root Financial Partners LLC raised its stake in Parker-Hannifin by 12.1% in the 3rd quarter. Root Financial Partners LLC now owns 324 shares of the industrial products company's stock valued at $310,000 after acquiring an additional 35 shares during the period. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently commented on PH. Stifel Nicolaus set a $1,002.00 price target on shares of Parker-Hannifin in a research note on Monday. Citigroup raised their price objective on shares of Parker-Hannifin from $1,232.00 to $1,234.00 and gave the stock a "buy" rating in a research report on Monday, October 12th. BNP Paribas Exane boosted their price objective on Parker-Hannifin from $1,220.00 to $1,270.00 and gave the stock an "outperform" rating in a report on Friday, September 18th. Jefferies Financial Group upped their target price on Parker-Hannifin from $1,100.00 to $1,275.00 in a research report on Friday, August 7th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Parker-Hannifin in a research report on Thursday, October 15th. Eighteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $1,146.35.

Insiders Place Their Bets

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

Parker-Hannifin Price Performance

Shares of PH opened at $880.03 on Friday. The company has a market capitalization of $110.98 billion, a price-to-earnings ratio of 30.89, a price-to-earnings-growth ratio of 2.49 and a beta of 1.12. Parker-Hannifin Corporation has a 1 year low of $755.10 and a 1 year high of $1,099.94. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.26 and a quick ratio of 0.74. The business has a 50-day moving average of $966.89 and a 200-day moving average of $951.03.

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

Parker-Hannifin Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 11th. Investors of record on Monday, August 31st were given a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend was Monday, August 31st. Parker-Hannifin's dividend payout ratio is presently 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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