Prasad Wealth Partners LLC Raises Holdings in Parker-Hannifin Corporation $PH

Key Points

• Prasad Wealth Partners LLC increased its holdings in Parker-Hannifin Corporation by 21.9% during Q2, acquiring a total of 2,425 shares valued at approximately $1,693,000.
• Several hedge funds also increased their positions, with KLP Kapitalforvaltning AS boosting its stake by 7.3%, now owning shares worth $32,963,000.
• Wall Street analysts have a moderate buy consensus on Parker-Hannifin, with an average price target of $773.67, indicating optimism about the company's stock performance.

Prasad Wealth Partners LLC grew its position in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 21.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,425 shares of the industrial products company's stock after buying an additional 435 shares during the quarter. Prasad Wealth Partners LLC's holdings in Parker-Hannifin were worth $1,693,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. KLP Kapitalforvaltning AS lifted its holdings in shares of Parker-Hannifin by 7.3% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 47,193 shares of the industrial products company's stock worth $32,963,000 after buying an additional 3,200 shares during the period. Bingham Private Wealth LLC lifted its holdings in shares of Parker-Hannifin by 3.3% in the 2nd quarter. Bingham Private Wealth LLC now owns 472 shares of the industrial products company's stock worth $330,000 after buying an additional 15 shares during the period. Tcfg Wealth Management LLC lifted its holdings in shares of Parker-Hannifin by 2.9% in the 2nd quarter. Tcfg Wealth Management LLC now owns 562 shares of the industrial products company's stock worth $393,000 after buying an additional 16 shares during the period. Clark & Stuart Inc purchased a new stake in shares of Parker-Hannifin in the 2nd quarter worth $267,000. Finally, Trueblood Wealth Management LLC lifted its holdings in shares of Parker-Hannifin by 8.4% in the 2nd quarter. Trueblood Wealth Management LLC now owns 720 shares of the industrial products company's stock worth $503,000 after buying an additional 56 shares during the period. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on PH shares. Susquehanna started coverage on Parker-Hannifin in a research report on Friday, August 15th. They issued a "positive" rating and a $860.00 price target for the company. Wells Fargo & Company boosted their price target on Parker-Hannifin from $800.00 to $840.00 and gave the stock an "overweight" rating in a research report on Monday. Citigroup reissued a "buy" rating and issued a $831.00 price target (up from $709.00) on shares of Parker-Hannifin in a research report on Monday, July 14th. Deutsche Bank Aktiengesellschaft lowered Parker-Hannifin from a "buy" rating to a "hold" rating and set a $809.00 price target for the company. in a research report on Thursday, September 4th. Finally, Stifel Nicolaus upped their target price on Parker-Hannifin from $717.00 to $726.00 and gave the company a "hold" rating in a research report on Friday, August 8th. Fourteen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, Parker-Hannifin has an average rating of "Moderate Buy" and an average price target of $773.67.

Insider Activity at Parker-Hannifin

In other Parker-Hannifin news, VP Thomas C. Gentile sold 1,133 shares of the stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $729.50, for a total transaction of $826,523.50. Following the transaction, the vice president owned 5,465 shares in the company, valued at approximately $3,986,717.50. This represents a 17.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Robert W. Malone sold 2,257 shares of the 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 transaction, the vice president owned 5,866 shares in the company, valued at $4,286,051.56. This represents a 27.79% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 14,039 shares of company stock valued at $10,356,566 in the last ninety days. 0.32% of the stock is currently owned by company insiders.

Parker-Hannifin Stock Up 0.2%

Shares of PH stock opened at $764.56 on Tuesday. The stock's 50-day simple moving average is $747.98 and its 200-day simple moving average is $683.09. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.71 and a current ratio of 1.19. The firm has a market capitalization of $96.75 billion, a PE ratio of 28.19, a P/E/G ratio of 3.16 and a beta of 1.35. Parker-Hannifin Corporation has a fifty-two week low of $488.45 and a fifty-two week high of $779.77.

Parker-Hannifin (NYSE:PH - Get Free Report) last issued its earnings results on Thursday, August 7th. The industrial products company reported $7.69 EPS for the quarter, topping analysts' consensus estimates of $7.08 by $0.61. Parker-Hannifin had a return on equity of 26.80% and a net margin of 17.79%.The firm had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.10 billion. During the same quarter in the prior year, the business earned $6.77 earnings per share. The company's revenue was up 1.1% compared to the same quarter last year. Parker-Hannifin has set its FY 2026 guidance at 28.400-29.400 EPS. Equities analysts expect that Parker-Hannifin Corporation will post 26.71 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Tuesday, September 2nd were given a dividend of $1.80 per share. The ex-dividend date was Tuesday, September 2nd. This represents a $7.20 dividend on an annualized basis and a yield of 0.9%. Parker-Hannifin's dividend payout ratio is currently 26.55%.

Parker-Hannifin 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.

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