Synovus Financial Corp Grows Position in Parker-Hannifin Corporation $PH

Key Points

• Synovus Financial Corp increased its stake in Parker-Hannifin Corporation by 10.4%, acquiring 335 additional shares, bringing its total holdings to 3,569 shares valued at approximately $2.17 million.
• Institutional investors own 82.44% of Parker-Hannifin’s stock, with SG Americas Securities and Community Financial Services Group among those significantly increasing their holdings in the 1st quarter.
• Parker-Hannifin reported earnings of $7.69 per share for the last quarter, exceeding analyst estimates and projecting 26.71 earnings per share for the current fiscal year.

Synovus Financial Corp increased its stake in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 10.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,569 shares of the industrial products company's stock after purchasing an additional 335 shares during the quarter. Synovus Financial Corp's holdings in Parker-Hannifin were worth $2,170,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. ICONIQ Capital LLC lifted its holdings in Parker-Hannifin by 59.3% during the 1st quarter. ICONIQ Capital LLC now owns 637 shares of the industrial products company's stock worth $387,000 after buying an additional 237 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in Parker-Hannifin by 21.6% during the 1st quarter. Smartleaf Asset Management LLC now owns 1,577 shares of the industrial products company's stock worth $949,000 after buying an additional 280 shares during the last quarter. Bahl & Gaynor Inc. purchased a new stake in Parker-Hannifin during the 1st quarter worth about $25,242,000. Northwestern Mutual Wealth Management Co. lifted its holdings in Parker-Hannifin by 4.3% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 63,815 shares of the industrial products company's stock worth $38,790,000 after buying an additional 2,618 shares during the last quarter. Finally, Haverford Trust Co lifted its holdings in Parker-Hannifin by 6.2% during the 1st quarter. Haverford Trust Co now owns 818 shares of the industrial products company's stock worth $497,000 after buying an additional 48 shares during the last quarter. 82.44% of the stock is owned by institutional investors and hedge funds.

Parker-Hannifin Price Performance

NYSE PH traded down $7.08 during mid-day trading on Friday, hitting $759.76. The stock had a trading volume of 890,872 shares, compared to its average volume of 792,477. Parker-Hannifin Corporation has a 52-week low of $488.45 and a 52-week high of $773.30. The company has a market cap of $97.08 billion, a price-to-earnings ratio of 28.01, a P/E/G ratio of 3.18 and a beta of 1.37. The company has a 50 day simple moving average of $723.76 and a 200 day simple moving average of $663.28. The company has a quick ratio of 0.71, a current ratio of 1.19 and a debt-to-equity ratio of 0.55.

Parker-Hannifin (NYSE:PH - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The industrial products company reported $7.69 earnings per share for the quarter, beating the consensus estimate of $7.08 by $0.61. Parker-Hannifin had a return on equity of 26.80% and a net margin of 17.79%.The firm had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.10 billion. During the same period last year, the business posted $6.77 EPS. Parker-Hannifin's quarterly revenue was up 1.1% on a year-over-year basis. Parker-Hannifin has set its FY 2026 guidance at 28.400-29.400 EPS. Equities analysts forecast that Parker-Hannifin Corporation will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Tuesday, September 2nd will be paid a $1.80 dividend. This represents a $7.20 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Tuesday, September 2nd. Parker-Hannifin's dividend payout ratio (DPR) is presently 26.55%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on PH shares. Argus set a $680.00 target price on Parker-Hannifin in a report on Tuesday, May 6th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Parker-Hannifin in a report on Friday, August 8th. Mizuho set a $785.00 target price on Parker-Hannifin in a report on Friday, May 16th. Raymond James Financial boosted 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. Finally, Evercore ISI reaffirmed an "outperform" rating on shares of Parker-Hannifin in a research note on Tuesday, August 19th. Fourteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $768.71.

Insider Transactions at Parker-Hannifin

In other Parker-Hannifin news, VP Thomas C. Gentile sold 1,133 shares of the firm's stock in a transaction on Friday, August 8th. The stock was sold at an average price of $729.50, for a total transaction of $826,523.50. Following the completion of the transaction, the vice president owned 5,465 shares of the company's stock, valued at approximately $3,986,717.50. This trade represents a 17.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Joseph R. Leonti sold 4,625 shares of the firm's stock in a transaction 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 transaction, the executive vice president directly owned 13,878 shares of the company's stock, valued at $10,420,157.52. The trade was a 25.00% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 14,039 shares of company stock worth $10,356,566 over the last ninety days. 0.39% of the stock is currently owned by corporate insiders.

Parker-Hannifin Company 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.