State of New Jersey Common Pension Fund D trimmed its holdings in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 9.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 42,665 shares of the industrial products company's stock after selling 4,470 shares during the period. State of New Jersey Common Pension Fund D's holdings in Parker-Hannifin were worth $25,934,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently bought and sold shares of the company. SG Americas Securities LLC raised its position in 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 buying an additional 6,630 shares during the period. Alley Investment Management Company LLC acquired a new position in Parker-Hannifin in the 1st quarter worth about $7,996,000. Community Financial Services Group LLC increased its position in Parker-Hannifin by 1,338.2% in the 1st quarter. Community Financial Services Group LLC now owns 6,630 shares of the industrial products company's stock worth $4,030,000 after purchasing an additional 6,169 shares during the last quarter. Heartland Bank & Trust Co acquired a new position in Parker-Hannifin in the 1st quarter worth about $260,000. Finally, Banco Santander S.A. increased its position in Parker-Hannifin by 70.2% in the 1st quarter. Banco Santander S.A. now owns 35,645 shares of the industrial products company's stock worth $21,667,000 after purchasing an additional 14,705 shares during the last quarter. 82.44% of the stock is owned by institutional investors and hedge funds.
Insider Activity
In related news, COO Andrew D. Ross sold 4,361 shares of the stock in a transaction that occurred 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 owned 13,120 shares in the company, valued at $9,612,499.20. This represents a 24.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Matthew A. Jacobson sold 575 shares of the stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $733.06, for a total value of $421,509.50. Following the sale, the vice president owned 1,000 shares of the company's stock, valued at approximately $733,060. The trade was a 36.51% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,414 shares of company stock worth $6,883,931 over the last 90 days. Company insiders own 0.39% of the company's stock.
Wall Street Analysts Forecast Growth
Several research analysts have weighed in on the company. Citigroup reaffirmed a "buy" rating and issued a $831.00 target price (up from $709.00) on shares of Parker-Hannifin in a research report on Monday, July 14th. Morgan Stanley upped their target price on Parker-Hannifin from $700.00 to $725.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 9th. Argus set a $680.00 target price on Parker-Hannifin in a research report on Tuesday, May 6th. Susquehanna assumed coverage on Parker-Hannifin in a research report on Friday, August 15th. They issued a "positive" rating and a $860.00 target price on the stock. Finally, Mizuho set a $785.00 target price on Parker-Hannifin in a research report on Friday, May 16th. Fourteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $768.71.
Read Our Latest Analysis on PH
Parker-Hannifin Stock Down 1.4%
Shares of PH traded down $10.1250 during trading hours on Thursday, hitting $732.8450. 158,955 shares of the company were exchanged, compared to its average volume of 750,542. The company has a market cap of $93.64 billion, a PE ratio of 26.98, a PEG ratio of 3.09 and a beta of 1.37. The firm's 50 day moving average is $709.74 and its 200-day moving average is $659.97. Parker-Hannifin Corporation has a 52 week low of $488.45 and a 52 week high of $763.99. 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 released its quarterly earnings results on Thursday, August 7th. The industrial products company reported $7.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.08 by $0.61. The company had revenue of $5.24 billion during 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 firm's revenue was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $6.77 EPS. Parker-Hannifin has set its FY 2026 guidance at 28.400-29.400 EPS. On average, equities research analysts forecast that Parker-Hannifin Corporation will post 26.71 EPS for the current fiscal year.
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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