Secure Asset Management LLC purchased a new stake in Parker-Hannifin Corporation (NYSE:PH - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 555 shares of the industrial products company's stock, valued at approximately $388,000.
Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Parker-Hannifin by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 11,023,764 shares of the industrial products company's stock worth $6,700,795,000 after purchasing an additional 168,990 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Parker-Hannifin by 52.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,443,104 shares of the industrial products company's stock worth $1,485,042,000 after purchasing an additional 842,262 shares during the period. Wellington Management Group LLP lifted its stake in shares of Parker-Hannifin by 11.6% during the 1st quarter. Wellington Management Group LLP now owns 2,009,250 shares of the industrial products company's stock worth $1,221,323,000 after purchasing an additional 208,573 shares during the period. GAMMA Investing LLC lifted its stake in shares of Parker-Hannifin by 66,111.8% during the 1st quarter. GAMMA Investing LLC now owns 1,735,412 shares of the industrial products company's stock worth $1,054,870,000 after purchasing an additional 1,732,791 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Parker-Hannifin by 0.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,594,347 shares of the industrial products company's stock worth $969,124,000 after buying an additional 11,815 shares during the last quarter. Institutional investors and hedge funds own 82.44% of the company's stock.
Insider Activity
In other news, VP Angela R. Ives sold 810 shares of the company's stock in a transaction dated 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 owned 2,798 shares of the company's stock, valued at approximately $2,035,153.28. This represents a 22.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Andrew D. Ross sold 4,361 shares of the company's stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $732.66, for a total transaction of $3,195,130.26. Following the transaction, the chief operating officer directly owned 13,120 shares of the company's stock, valued at $9,612,499.20. This represents a 24.95% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 14,039 shares of company stock worth $10,356,566. Insiders own 0.39% of the company's stock.
Parker-Hannifin Trading Up 0.0%
NYSE PH traded up $0.26 on Friday, hitting $755.96. 791,764 shares of the stock were exchanged, compared to its average volume of 586,136. Parker-Hannifin Corporation has a 52-week low of $488.45 and a 52-week high of $779.77. 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 company has a market capitalization of $96.60 billion, a price-to-earnings ratio of 27.87, a P/E/G ratio of 3.13 and a beta of 1.35. The company's 50-day moving average price is $740.49 and its two-hundred day moving average price is $672.06.
Parker-Hannifin (NYSE:PH - Get Free Report) last issued its earnings results on Thursday, August 7th. The industrial products company reported $7.69 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $7.08 by $0.61. Parker-Hannifin had a net margin of 17.79% and a return on equity of 26.80%. The company had revenue of $5.24 billion during the quarter, compared to analyst estimates of $5.10 billion. During the same quarter last year, the business posted $6.77 EPS. The company's revenue for the quarter 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 predict 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. Shareholders of record on Tuesday, September 2nd were given a dividend of $1.80 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $7.20 dividend on an annualized basis and a yield of 1.0%. Parker-Hannifin's payout ratio is currently 26.55%.
Analyst Upgrades and Downgrades
PH has been the subject of a number of research analyst reports. Barclays upped their price objective on Parker-Hannifin from $750.00 to $776.00 and gave the stock an "overweight" rating in a report on Friday, August 8th. Deutsche Bank Aktiengesellschaft downgraded Parker-Hannifin from a "buy" rating to a "hold" rating and set a $809.00 price target for the company. in a report on Thursday, September 4th. Citigroup reiterated a "buy" rating and issued a $831.00 price target (up from $709.00) on shares of Parker-Hannifin in a report on Monday, July 14th. Evercore ISI reiterated an "outperform" rating on shares of Parker-Hannifin in a report on Tuesday, August 19th. Finally, Susquehanna began coverage on Parker-Hannifin in a research note on Friday, August 15th. They set a "positive" rating and a $860.00 target price for the company. Thirteen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $770.94.
Check Out Our Latest Report on Parker-Hannifin
About Parker-Hannifin
(
Free Report)
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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