Smith Salley Wealth Management Takes Position in Parker-Hannifin Corporation $PH

Key Points

• Smith Salley Wealth Management has acquired a new stake in Parker-Hannifin Corporation, purchasing 494 shares valued at approximately $345,000 in the second quarter.
• Insider trading activity includes significant sales, with VP Robert W. Malone selling 2,257 shares and EVP Joseph R. Leonti selling 4,625 shares, representing substantial decreases in their ownership positions.
• Parker-Hannifin reported earnings of $7.69 per share, exceeding analysts' estimates, with revenue of $5.24 billion for the quarter, demonstrating year-over-year growth.

Smith Salley Wealth Management acquired a new stake in Parker-Hannifin Corporation (NYSE:PH - Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 494 shares of the industrial products company's stock, valued at approximately $345,000.

Several other hedge funds and other institutional investors have also made changes to their positions in PH. Nuveen LLC bought a new position in shares of Parker-Hannifin in the first quarter valued at $933,089,000. Price T Rowe Associates Inc. MD grew its stake in shares of Parker-Hannifin by 52.6% in 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 in the last quarter. Wellington Management Group LLP grew its stake in shares of Parker-Hannifin by 11.6% in 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 in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Parker-Hannifin by 23.8% in the first quarter. Goldman Sachs Group Inc. now owns 996,738 shares of the industrial products company's stock valued at $605,867,000 after buying an additional 191,799 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Parker-Hannifin by 1.6% in 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 in the last quarter. 82.44% of the stock is owned by institutional investors.

Insider Buying and Selling at Parker-Hannifin

In related news, VP Robert W. Malone sold 2,257 shares of the company's stock in a transaction dated Friday, August 8th. The shares were 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Joseph R. Leonti sold 4,625 shares of the company's stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $750.84, for a total transaction of $3,472,635.00. Following the sale, the executive vice president directly owned 13,878 shares of the company's stock, valued at $10,420,157.52. This represents a 25.00% 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 over the last three months. 0.32% of the stock is owned by insiders.

Parker-Hannifin Trading Up 0.8%

Shares of Parker-Hannifin stock opened at $751.34 on Monday. The firm has a 50-day moving average of $744.31 and a 200-day moving average of $677.29. The stock has a market cap of $95.07 billion, a PE ratio of 27.70, a PEG ratio of 3.11 and a beta of 1.35. 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 quick ratio of 0.71 and a current ratio of 1.19.

Parker-Hannifin (NYSE:PH - Get Free Report) last announced 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. The company had revenue of $5.24 billion during the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same quarter in the previous year, the business posted $6.77 earnings per share. Parker-Hannifin has set its FY 2026 guidance at 28.400-29.400 EPS. As a group, sell-side analysts forecast that Parker-Hannifin Corporation will post 26.71 EPS for the current year.

Parker-Hannifin Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Investors 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 annualized dividend and a yield of 1.0%. Parker-Hannifin's dividend payout ratio is currently 26.55%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PH. Deutsche Bank Aktiengesellschaft cut shares of Parker-Hannifin from a "buy" rating to a "hold" rating and set a $809.00 target price for the company. in a research note on Thursday, September 4th. Raymond James Financial lifted their price objective on shares of Parker-Hannifin from $735.00 to $845.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. KeyCorp lifted 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. Cowen reaffirmed a "hold" rating on shares of Parker-Hannifin in a research report on Friday, August 29th. Finally, Morgan Stanley lifted their price objective on shares of Parker-Hannifin from $700.00 to $725.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 9th. Thirteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, Parker-Hannifin has a consensus rating of "Moderate Buy" and a consensus target price of $770.94.

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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