State of Alaska Department of Revenue Sells 745 Shares of Parker-Hannifin Corporation $PH

Key Points

• The State of Alaska Department of Revenue sold 745 shares of Parker-Hannifin Corporation, reducing its holdings by 4.9% to a total of 14,335 shares, valued at approximately $10 million.
• Parker-Hannifin recently reported earnings of $7.69 per share, surpassing analysts' estimates and demonstrating a revenue increase of 1.1% year-over-year, amounting to $5.24 billion for the quarter.
• The company announced a quarterly dividend of $1.80 per share, representing an annualized yield of 1.0%, with a payout ratio of 26.55%.

State of Alaska Department of Revenue trimmed its holdings in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 4.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,335 shares of the industrial products company's stock after selling 745 shares during the period. State of Alaska Department of Revenue's holdings in Parker-Hannifin were worth $10,012,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Wealth Preservation Advisors LLC purchased a new stake in Parker-Hannifin in the 1st quarter worth about $27,000. Saudi Central Bank bought a new position in Parker-Hannifin in the 1st quarter worth about $31,000. Olde Wealth Management LLC bought a new stake in shares of Parker-Hannifin during the first quarter valued at about $35,000. Chilton Capital Management LLC lifted its holdings in shares of Parker-Hannifin by 1,500.0% in the first quarter. Chilton Capital Management LLC now owns 64 shares of the industrial products company's stock worth $39,000 after buying an additional 60 shares in the last quarter. Finally, Accent Capital Management LLC bought a new position in shares of Parker-Hannifin in the first quarter valued at approximately $41,000. 82.44% of the stock is owned by institutional investors.

Parker-Hannifin Trading Up 0.8%

Shares of PH opened at $751.34 on Friday. Parker-Hannifin Corporation has a fifty-two week low of $488.45 and a fifty-two week high of $779.77. The firm has a market cap of $95.07 billion, a price-to-earnings ratio of 27.70, a PEG ratio of 3.11 and a beta of 1.35. The firm has a 50 day moving average price of $744.31 and a 200-day moving average price of $676.69. 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 issued its earnings results on Thursday, August 7th. The industrial products company reported $7.69 EPS for the quarter, topping 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 for the quarter, compared to analysts' expectations of $5.10 billion. During the same quarter last year, the company earned $6.77 EPS. The firm's revenue was up 1.1% compared to the same quarter last year. Parker-Hannifin has set its FY 2026 guidance at 28.400-29.400 EPS. As a group, equities research analysts forecast that Parker-Hannifin Corporation will post 26.71 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The business also recently declared 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. This represents a $7.20 annualized dividend and a yield of 1.0%. The ex-dividend date was Tuesday, September 2nd. Parker-Hannifin's dividend payout ratio (DPR) is presently 26.55%.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Wells Fargo & Company increased their target price on shares of Parker-Hannifin from $770.00 to $800.00 and gave the stock an "overweight" rating in a research note on Friday, August 8th. Citigroup restated a "buy" rating and set a $831.00 target price (up from $709.00) on shares of Parker-Hannifin in a research report on Monday, July 14th. Morgan Stanley raised their price target on Parker-Hannifin from $700.00 to $725.00 and gave the company an "equal weight" rating in a report on Wednesday, July 9th. Cowen reissued a "hold" rating on shares of Parker-Hannifin in a report on Friday, August 29th. Finally, Stifel Nicolaus raised their target price on shares of Parker-Hannifin from $717.00 to $726.00 and gave the company a "hold" 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $770.94.

Insiders Place Their Bets

In related news, VP Angela R. Ives sold 810 shares of the company's stock in a transaction 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 sale, the vice president directly owned 2,798 shares in the company, valued at $2,035,153.28. This represents a 22.45% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 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 transaction of $3,195,130.26. Following the sale, the chief operating officer directly owned 13,120 shares of the company's stock, valued at $9,612,499.20. The trade was a 24.95% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,039 shares of company stock worth $10,356,566. 0.39% of the stock is currently owned by corporate insiders.

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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