Procyon Advisors LLC Decreases Stock Holdings in Parker-Hannifin Corporation $PH

Key Points

• Procyon Advisors LLC reduced its stake in Parker-Hannifin Corporation by 36.2%, now holding 3,195 shares worth approximately $2.23 million.
• Several hedge funds, including Vanguard and Price T Rowe Associates, increased their positions in Parker-Hannifin, which is currently 82.44% owned by institutional investors.
• Parker-Hannifin reported earnings per share of $7.69 for the latest quarter, exceeding estimates, and declared a quarterly dividend of $1.80 per share.

Procyon Advisors LLC trimmed its position in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 36.2% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,195 shares of the industrial products company's stock after selling 1,814 shares during the quarter. Procyon Advisors LLC's holdings in Parker-Hannifin were worth $2,232,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Parker-Hannifin by 1.6% during the first quarter. Vanguard Group Inc. now owns 11,023,764 shares of the industrial products company's stock valued at $6,700,795,000 after buying an additional 168,990 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Parker-Hannifin by 52.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,443,104 shares of the industrial products company's stock valued at $1,485,042,000 after buying an additional 842,262 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Parker-Hannifin by 11.6% during the first quarter. Wellington Management Group LLP now owns 2,009,250 shares of the industrial products company's stock valued at $1,221,323,000 after buying an additional 208,573 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Parker-Hannifin by 66,111.8% during the first quarter. GAMMA Investing LLC now owns 1,735,412 shares of the industrial products company's stock valued at $1,054,870,000 after buying an additional 1,732,791 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Parker-Hannifin by 0.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,594,347 shares of the industrial products company's stock valued at $969,124,000 after buying an additional 11,815 shares during the last quarter. 82.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PH. Cowen reaffirmed a "hold" rating on shares of Parker-Hannifin in a research report on Friday, August 29th. Barclays increased their price objective on shares of Parker-Hannifin from $750.00 to $776.00 and gave the company an "overweight" rating in a research report on Friday, August 8th. Evercore ISI reaffirmed an "outperform" rating on shares of Parker-Hannifin in a research report on Tuesday, August 19th. Wells Fargo & Company increased their price objective on shares of Parker-Hannifin from $770.00 to $800.00 and gave the company an "overweight" rating in a research report on Friday, August 8th. Finally, Susquehanna began coverage on shares of Parker-Hannifin in a research report on Friday, August 15th. They issued a "positive" rating and a $860.00 price objective for the company. Thirteen analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $770.94.

Parker-Hannifin Price Performance

NYSE:PH opened at $754.37 on Wednesday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.19 and a quick ratio of 0.71. The firm has a market cap of $96.39 billion, a price-to-earnings ratio of 27.82, a price-to-earnings-growth ratio of 3.15 and a beta of 1.35. The company has a 50 day moving average price of $738.24 and a 200-day moving average price of $669.72. Parker-Hannifin Corporation has a 1-year low of $488.45 and a 1-year high of $779.77.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted its earnings results on Thursday, August 7th. The industrial products company reported $7.69 earnings per share for the quarter, beating the consensus estimate of $7.08 by $0.61. The firm 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%. The business's quarterly revenue was up 1.1% on a year-over-year basis. During the same period in the previous year, the firm earned $6.77 EPS. Parker-Hannifin has set its FY 2026 guidance at 28.400-29.400 EPS. Equities research analysts forecast that Parker-Hannifin Corporation will post 26.71 EPS for the current year.

Parker-Hannifin Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Tuesday, September 2nd were issued a $1.80 dividend. This represents a $7.20 annualized dividend 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 Buying and Selling

In related news, VP Robert W. Malone sold 2,257 shares of the business's stock in a transaction on Friday, August 8th. The shares were sold at an average price of $730.66, for a total value 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 approximately $4,286,051.56. The trade was a 27.79% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Andrew D. Ross sold 4,361 shares of the business's stock in a transaction on Friday, August 8th. The stock was sold at an average price of $732.66, for a total transaction of $3,195,130.26. Following the completion of the sale, the chief operating officer directly owned 13,120 shares of the company's stock, valued at approximately $9,612,499.20. The trade was a 24.95% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 14,039 shares of company stock worth $10,356,566 in the last 90 days. 0.39% of the stock is owned by insiders.

Parker-Hannifin Company 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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