Sterling Investment Counsel LLC Has $321,000 Position in Parker-Hannifin Corporation $PH

Key Points

• Sterling Investment Counsel LLC reduced its stake in Parker-Hannifin Corporation by 67.0% during the 2nd quarter, now owning 460 shares valued at $321,000.
• Analysts have a consensus rating of "Moderate Buy" for Parker-Hannifin, with an average price target of $771.44.
• Company insiders sold a total of 14,039 shares worth over $10 million in the last quarter, indicating significant insider trading activity.

Sterling Investment Counsel LLC cut its stake in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 67.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 460 shares of the industrial products company's stock after selling 936 shares during the quarter. Sterling Investment Counsel LLC's holdings in Parker-Hannifin were worth $321,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Cascade Financial Partners LLC lifted its holdings in Parker-Hannifin by 3.1% during the 1st quarter. Cascade Financial Partners LLC now owns 498 shares of the industrial products company's stock worth $303,000 after buying an additional 15 shares during the period. Meiji Yasuda Asset Management Co Ltd. lifted its holdings in Parker-Hannifin by 0.8% during the 1st quarter. Meiji Yasuda Asset Management Co Ltd. now owns 1,814 shares of the industrial products company's stock worth $1,103,000 after buying an additional 15 shares during the period. Empowered Funds LLC lifted its holdings in Parker-Hannifin by 0.5% during the 1st quarter. Empowered Funds LLC now owns 2,894 shares of the industrial products company's stock worth $1,759,000 after buying an additional 15 shares during the period. Sivia Capital Partners LLC lifted its stake in shares of Parker-Hannifin by 3.6% in the 2nd quarter. Sivia Capital Partners LLC now owns 430 shares of the industrial products company's stock valued at $300,000 after purchasing an additional 15 shares during the period. Finally, Nicolet Advisory Services LLC lifted its stake in shares of Parker-Hannifin by 3.5% in the 1st quarter. Nicolet Advisory Services LLC now owns 468 shares of the industrial products company's stock valued at $262,000 after purchasing an additional 16 shares during the period. 82.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on PH shares. Barclays boosted their price objective on Parker-Hannifin from $776.00 to $785.00 and gave the company an "overweight" rating in a research note on Wednesday. Susquehanna started coverage on Parker-Hannifin in a research note on Friday, August 15th. They issued a "positive" rating and a $860.00 price objective on the stock. Cowen reissued a "hold" rating on shares of Parker-Hannifin in a research note on Friday, August 29th. Wall Street Zen raised Parker-Hannifin from a "hold" rating to a "buy" rating in a research note on Saturday, September 20th. Finally, Stifel Nicolaus boosted their price objective on 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 MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $771.44.

Insider Buying and Selling at Parker-Hannifin

In other news, EVP Joseph R. Leonti sold 4,625 shares of the stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $750.84, for a total value of $3,472,635.00. Following the completion of 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Robert W. Malone sold 2,257 shares of the stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $730.66, for a total value of $1,649,099.62. Following the completion of the sale, the vice president directly owned 5,866 shares of the company's stock, valued at approximately $4,286,051.56. This trade represents a 27.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 14,039 shares of company stock worth $10,356,566 in the last quarter. Company insiders own 0.32% of the company's stock.

Parker-Hannifin Stock Up 0.3%

PH stock opened at $757.70 on Friday. The stock's 50 day simple moving average is $746.95 and its 200 day simple moving average is $680.32. Parker-Hannifin Corporation has a fifty-two week low of $488.45 and a fifty-two 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 company has a market cap of $95.88 billion, a P/E ratio of 27.94, a price-to-earnings-growth ratio of 3.13 and a beta of 1.35.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The industrial products company reported $7.69 earnings per share for the quarter, topping analysts' consensus estimates of $7.08 by $0.61. Parker-Hannifin had a return on equity of 26.80% and a net margin of 17.79%.The business had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.10 billion. During the same period in the prior year, the business earned $6.77 EPS. The firm'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. On average, research analysts expect that Parker-Hannifin Corporation will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Tuesday, September 2nd were paid a dividend of $1.80 per share. This represents a $7.20 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend was Tuesday, September 2nd. Parker-Hannifin's dividend payout ratio is 26.55%.

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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