Private Trust Co. NA Has $1.23 Million Holdings in Parker-Hannifin Corporation $PH

Key Points

• Private Trust Co. NA reduced its holdings in Parker-Hannifin Corporation by 28.2% in Q2, now owning 1,756 shares valued at approximately $1.23 million.
• Investment analysts are optimistic about Parker-Hannifin, with multiple firms increasing their price targets, resulting in a consensus rating of "Moderate Buy" and an average target price of $789.83.
• The company recently reported a quarterly EPS of $7.69, exceeding estimates, and announced a quarterly dividend of $1.80 per share.

Private Trust Co. NA trimmed its position in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 28.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,756 shares of the industrial products company's stock after selling 689 shares during the quarter. Private Trust Co. NA's holdings in Parker-Hannifin were worth $1,227,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Master S Wealth Management Inc. raised its holdings in shares of Parker-Hannifin by 50.1% during the second quarter. Master S Wealth Management Inc. now owns 1,147 shares of the industrial products company's stock valued at $801,000 after acquiring an additional 383 shares during the period. Nordea Investment Management AB grew its position in Parker-Hannifin by 4.9% during the 2nd quarter. Nordea Investment Management AB now owns 170,095 shares of the industrial products company's stock worth $118,879,000 after purchasing an additional 7,919 shares in the last quarter. Evernest Financial Advisors LLC raised its stake in Parker-Hannifin by 32.0% during the 2nd quarter. Evernest Financial Advisors LLC now owns 561 shares of the industrial products company's stock valued at $392,000 after purchasing an additional 136 shares during the period. Turtle Creek Wealth Advisors LLC lifted its holdings in shares of Parker-Hannifin by 4.5% in the second quarter. Turtle Creek Wealth Advisors LLC now owns 11,148 shares of the industrial products company's stock valued at $7,787,000 after purchasing an additional 481 shares in the last quarter. Finally, Verisail Partners LLC acquired a new stake in shares of Parker-Hannifin in the second quarter worth $221,000. 82.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. KeyCorp upped their price target on Parker-Hannifin from $810.00 to $825.00 and gave the company an "overweight" rating in a research report on Tuesday. Morgan Stanley upped their target price on Parker-Hannifin from $700.00 to $725.00 and gave the company an "equal weight" rating in a report on Wednesday, July 9th. Barclays raised their price target on shares of Parker-Hannifin from $776.00 to $785.00 and gave the stock an "overweight" rating in a report on Wednesday, October 1st. Cowen reiterated a "hold" rating on shares of Parker-Hannifin in a research note on Friday, August 29th. Finally, Stifel Nicolaus increased their target price on shares of Parker-Hannifin from $717.00 to $726.00 and gave the stock a "hold" rating in a research report on Friday, August 8th. Fourteen investment 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 $789.83.

Parker-Hannifin Stock Performance

PH stock opened at $734.26 on Friday. The firm has a 50 day moving average of $750.51 and a two-hundred day moving average of $689.14. Parker-Hannifin Corporation has a 12 month low of $488.45 and a 12 month high of $779.77. The company has a market capitalization of $92.91 billion, a price-to-earnings ratio of 27.07, a P/E/G ratio of 3.00 and a beta of 1.35. The company has a quick ratio of 0.71, a current ratio of 1.19 and a debt-to-equity ratio of 0.55.

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

Parker-Hannifin Announces Dividend

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

Insider Transactions at Parker-Hannifin

In other Parker-Hannifin news, VP Robert W. Malone sold 2,257 shares of the company's stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $730.66, for a total transaction of $1,649,099.62. Following the completion of the sale, the vice president owned 5,866 shares of the company's stock, valued at $4,286,051.56. This represents a 27.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Angela R. Ives sold 810 shares of Parker-Hannifin stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $727.36, for a total transaction of $589,161.60. Following the completion of 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 disclosure for this sale can be found here. In the last quarter, insiders sold 14,039 shares of company stock worth $10,356,566. 0.32% of the stock is currently owned by company insiders.

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.