Patton Fund Management Inc. Decreases Stake in Parker-Hannifin Corporation $PH

Key Points

• Patton Fund Management Inc. has significantly reduced its stake in Parker-Hannifin Corporation by 94.2%, now holding only 368 shares worth approximately $257,000.
• Analysts have mixed views on Parker-Hannifin, with Deutsche Bank lowering its rating from "buy" to "hold," while Citigroup raised their target price to $831.00.
• Parker-Hannifin recently announced a quarterly dividend of $1.80 per share, equating to an annualized yield of 1.0%.

Patton Fund Management Inc. reduced its stake in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 94.2% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 368 shares of the industrial products company's stock after selling 5,993 shares during the period. Patton Fund Management Inc.'s holdings in Parker-Hannifin were worth $257,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Wealth Preservation Advisors LLC purchased a new stake in shares of Parker-Hannifin during the 1st quarter worth $27,000. Saudi Central Bank purchased a new stake in shares of Parker-Hannifin during the 1st quarter worth $31,000. Olde Wealth Management LLC purchased a new stake in shares of Parker-Hannifin in the 1st quarter worth about $35,000. Chilton Capital Management LLC boosted its position in shares of Parker-Hannifin by 1,500.0% in the 1st 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 in the last quarter. Finally, Accent Capital Management LLC purchased a new stake in shares of Parker-Hannifin in the 1st quarter worth about $41,000. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft lowered shares of Parker-Hannifin from a "buy" rating to a "hold" rating and set a $809.00 price objective on the stock. in a research report on Thursday, September 4th. Evercore ISI reiterated an "outperform" rating on shares of Parker-Hannifin in a research report on Tuesday, August 19th. KeyCorp boosted their price objective on shares of Parker-Hannifin from $790.00 to $810.00 and gave the stock an "overweight" rating in a research report on Friday, August 8th. Citigroup reiterated a "buy" rating and issued a $831.00 price objective (up from $709.00) on shares of Parker-Hannifin in a research report on Monday, July 14th. Finally, Cowen reiterated a "hold" rating on shares of Parker-Hannifin in a research report on Friday, August 29th. Thirteen 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.com, Parker-Hannifin has a consensus rating of "Moderate Buy" and an average target price of $770.94.

Parker-Hannifin Price Performance

NYSE:PH opened at $751.34 on Friday. The firm has a market cap of $95.07 billion, a price-to-earnings ratio of 27.70, a price-to-earnings-growth ratio of 3.11 and a beta of 1.35. The company has a current ratio of 1.19, a quick ratio of 0.71 and a debt-to-equity ratio of 0.55. The company's 50-day moving average is $744.31 and its two-hundred day moving average is $676.69. 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 announced its quarterly earnings data on Thursday, August 7th. The industrial products company reported $7.69 earnings per share for the quarter, topping the consensus estimate of $7.08 by $0.61. Parker-Hannifin had a net margin of 17.79% and a return on equity of 26.80%. The business had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.10 billion. During the same period in the prior year, the firm posted $6.77 EPS. The company's revenue was up 1.1% on a year-over-year basis. Parker-Hannifin has set its FY 2026 guidance at 28.400-29.400 EPS. Research analysts expect that Parker-Hannifin Corporation will post 26.71 EPS for the current year.

Parker-Hannifin Announces Dividend

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

Insider Transactions at Parker-Hannifin

In other Parker-Hannifin news, VP Angela R. Ives sold 810 shares of the firm's stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $727.36, for a total transaction of $589,161.60. Following the completion of the sale, the vice president directly owned 2,798 shares in the company, valued at approximately $2,035,153.28. This trade represents a 22.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Robert W. Malone sold 2,257 shares of Parker-Hannifin stock in a transaction that occurred on Friday, August 8th. The stock was 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 directly owned 5,866 shares in the company, valued at approximately $4,286,051.56. This represents a 27.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 14,039 shares of company stock worth $10,356,566 in the last three months. Insiders own 0.39% of the company's stock.

About Parker-Hannifin

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.

Want to see what other hedge funds are holding PH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Parker-Hannifin Corporation (NYSE:PH - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.