TD Asset Management Inc Has $104.76 Million Stock Position in Parker-Hannifin Corporation $PH

Key Points

• TD Asset Management Inc has reduced its stake in Parker-Hannifin Corporation by 2.7%, now holding approximately $104.76 million in shares after selling 4,204 during the second quarter.
• Insiders have recently sold a significant amount of shares, with EVP Joseph R. Leonti selling 4,625 shares for around $3.47 million, leading to a 25% decrease in his ownership.
• Wells Fargo & Company has upgraded its price target for Parker-Hannifin from $800 to $840, maintaining an "overweight" rating amid a positive analyst outlook.

TD Asset Management Inc trimmed its position in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 2.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 149,982 shares of the industrial products company's stock after selling 4,204 shares during the quarter. TD Asset Management Inc owned approximately 0.12% of Parker-Hannifin worth $104,758,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in PH. Wealth Preservation Advisors LLC acquired a new stake in shares of Parker-Hannifin during the first quarter worth approximately $27,000. Saudi Central Bank acquired a new stake in shares of Parker-Hannifin during the first quarter worth approximately $31,000. Olde Wealth Management LLC acquired a new stake in shares of Parker-Hannifin during the first quarter worth approximately $35,000. Chilton Capital Management LLC boosted its holdings in shares of Parker-Hannifin by 1,500.0% during the first quarter. Chilton Capital Management LLC now owns 64 shares of the industrial products company's stock worth $39,000 after purchasing an additional 60 shares during the period. Finally, Accent Capital Management LLC acquired a new stake in shares of Parker-Hannifin during the first quarter worth approximately $41,000. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Joseph R. Leonti sold 4,625 shares of Parker-Hannifin stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $750.84, for a total value of $3,472,635.00. Following the transaction, the executive vice president owned 13,878 shares of the company's stock, valued at $10,420,157.52. This trade represents a 25.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Thomas C. Gentile sold 1,133 shares of Parker-Hannifin stock in a transaction that occurred on Friday, August 8th. The shares were 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 directly owned 5,465 shares in the company, valued at approximately $3,986,717.50. This represents a 17.17% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 14,039 shares of company stock valued at $10,356,566. 0.32% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on PH shares. Wells Fargo & Company raised their price target on shares of Parker-Hannifin from $800.00 to $840.00 and gave the stock an "overweight" rating in a report on Monday, October 6th. Morgan Stanley raised their price target on shares of Parker-Hannifin from $700.00 to $725.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 9th. Stifel Nicolaus raised their price objective on shares of Parker-Hannifin from $717.00 to $726.00 and gave the company a "hold" rating in a research report on Friday, August 8th. Deutsche Bank Aktiengesellschaft lowered shares of Parker-Hannifin from a "buy" rating to a "hold" rating and set a $809.00 price objective on the stock. in a research report on Thursday, September 4th. Finally, Cowen reaffirmed a "hold" rating on shares of Parker-Hannifin in a research report on Friday, August 29th. Fourteen research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $787.61.

Parker-Hannifin Trading Up 1.1%

NYSE:PH opened at $736.75 on Wednesday. Parker-Hannifin Corporation has a 12 month low of $488.45 and a 12 month high of $779.77. The firm has a market cap of $93.23 billion, a price-to-earnings ratio of 27.17, a P/E/G ratio of 3.02 and a beta of 1.35. The company has a quick ratio of 0.71, a current ratio of 1.19 and a debt-to-equity ratio of 0.55. The company's 50 day moving average is $749.61 and its 200-day moving average is $687.14.

Parker-Hannifin (NYSE:PH - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The industrial products company reported $7.69 EPS for the quarter, beating 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 analyst estimates of $5.10 billion. During the same quarter last year, the firm posted $6.77 earnings per share. The company's quarterly 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. Equities analysts anticipate that Parker-Hannifin Corporation will post 26.71 EPS for the current year.

Parker-Hannifin Dividend Announcement

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.