SOA Wealth Advisors LLC. Reduces Position in Parker-Hannifin Corporation $PH

Key Points

• SOA Wealth Advisors LLC reduced its stake in Parker-Hannifin Corporation by 16.2%, owning 15,915 shares after selling 3,085 shares in the second quarter.
• Parker-Hannifin reported earnings of $7.69 EPS for the last quarter, exceeding analyst expectations and showing a 1.1% year-over-year revenue increase.
• The company announced a quarterly dividend of $1.80 per share, resulting in a 0.9% dividend yield and a payout ratio of 26.55%.

SOA Wealth Advisors LLC. lessened its stake in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 16.2% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 15,915 shares of the industrial products company's stock after selling 3,085 shares during the quarter. Parker-Hannifin makes up approximately 1.2% of SOA Wealth Advisors LLC.'s portfolio, making the stock its 19th biggest position. SOA Wealth Advisors LLC.'s holdings in Parker-Hannifin were worth $11,116,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. SG Americas Securities LLC boosted its stake in shares of Parker-Hannifin by 27.2% during the first quarter. SG Americas Securities LLC now owns 31,011 shares of the industrial products company's stock valued at $18,850,000 after purchasing an additional 6,630 shares during the period. Alley Investment Management Company LLC bought a new position in shares of Parker-Hannifin during the first quarter valued at approximately $7,996,000. Community Financial Services Group LLC raised its holdings in shares of Parker-Hannifin by 1,338.2% during the first quarter. Community Financial Services Group LLC now owns 6,630 shares of the industrial products company's stock valued at $4,030,000 after acquiring an additional 6,169 shares in the last quarter. Inspire Investing LLC raised its holdings in shares of Parker-Hannifin by 5.1% during the first quarter. Inspire Investing LLC now owns 12,386 shares of the industrial products company's stock valued at $7,529,000 after acquiring an additional 596 shares in the last quarter. Finally, Heartland Bank & Trust Co bought a new position in shares of Parker-Hannifin during the first quarter valued at approximately $260,000. Hedge funds and other institutional investors own 82.44% of the company's stock.

Insider Activity at Parker-Hannifin

In related news, VP Matthew A. Jacobson sold 575 shares of the stock in a transaction on Friday, August 8th. The stock was sold at an average price of $733.06, for a total transaction of $421,509.50. Following the sale, the vice president directly owned 1,000 shares of the company's stock, valued at $733,060. This trade represents a 36.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Andrew D. Ross sold 4,361 shares of the stock in a transaction on Friday, August 8th. The shares were sold at an average price of $732.66, for a total value of $3,195,130.26. Following the sale, the chief operating officer directly owned 13,120 shares in the company, valued at $9,612,499.20. This trade represents a 24.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders 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 Stock Up 0.6%

Shares of Parker-Hannifin stock opened at $758.25 on Wednesday. The company has a 50-day simple moving average of $745.86 and a two-hundred day simple moving average of $678.86. 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. The stock has a market capitalization of $95.95 billion, a PE ratio of 27.96, a price-to-earnings-growth ratio of 3.12 and a beta of 1.35.

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, beating the consensus estimate of $7.08 by $0.61. The business had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.10 billion. Parker-Hannifin had a return on equity of 26.80% and a net margin of 17.79%.The company's revenue was up 1.1% compared to the same quarter last year. During the same period last year, the business posted $6.77 EPS. Parker-Hannifin has set its FY 2026 guidance at 28.400-29.400 EPS. On average, analysts anticipate that Parker-Hannifin Corporation will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm 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 dividend yield of 0.9%. Parker-Hannifin's dividend payout ratio (DPR) is 26.55%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. 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. Raymond James Financial upped their target price on Parker-Hannifin from $735.00 to $845.00 and gave the company an "outperform" rating in a report on Friday, August 8th. KeyCorp upped their target price on Parker-Hannifin from $790.00 to $810.00 and gave the company an "overweight" rating in a report on Friday, August 8th. Evercore ISI restated an "outperform" rating on shares of Parker-Hannifin in a report on Tuesday, August 19th. Finally, Wells Fargo & Company upped their price target on Parker-Hannifin from $770.00 to $800.00 and gave the stock an "overweight" rating in a research note on Friday, August 8th. Thirteen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average 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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