TD Waterhouse Canada Inc. Sells 42,231 Shares of Parker-Hannifin Corporation $PH

Key Points

• TD Waterhouse Canada cut its Parker-Hannifin stake by 76.3% in the third quarter, selling 42,231 shares and retaining 13,137 shares valued at approximately $12.7 million.
• Parker-Hannifin reported quarterly results above expectations, with EPS of $9.27 versus the $8.31 consensus and revenue of $5.75 billion, up 9.8% year over year.
• The company pays a quarterly dividend of $2.00 per share, equal to an annualized $8.00 and a 0.8% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $1,149.52.

TD Waterhouse Canada Inc. lowered its stake in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 76.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,137 shares of the industrial products company's stock after selling 42,231 shares during the period. TD Waterhouse Canada Inc.'s holdings in Parker-Hannifin were worth $12,705,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Banque Pictet & Cie SA grew its holdings in Parker-Hannifin by 130.9% during the third quarter. Banque Pictet & Cie SA now owns 57,826 shares of the industrial products company's stock valued at $55,248,000 after purchasing an additional 32,786 shares during the last quarter. Pension & Wealth Management Advisors Inc. bought a new position in shares of Parker-Hannifin in the third quarter valued at approximately $30,000. V Square Quantitative Management LLC lifted its stake in shares of Parker-Hannifin by 11.4% in the third quarter. V Square Quantitative Management LLC now owns 695 shares of the industrial products company's stock worth $664,000 after buying an additional 71 shares during the last quarter. Comprehensive Financial Consultants Institutional Inc. lifted its stake in shares of Parker-Hannifin by 2.4% in the third quarter. Comprehensive Financial Consultants Institutional Inc. now owns 3,103 shares of the industrial products company's stock worth $2,965,000 after buying an additional 72 shares during the last quarter. Finally, Davidson Capital Management Inc. lifted its stake in shares of Parker-Hannifin by 2.3% in the third quarter. Davidson Capital Management Inc. now owns 1,528 shares of the industrial products company's stock worth $1,460,000 after buying an additional 34 shares during the last quarter. Institutional investors own 82.44% of the company's stock.

Parker-Hannifin Stock Up 0.0%

NYSE PH opened at $963.35 on Monday. Parker-Hannifin Corporation has a 1-year low of $722.12 and a 1-year high of $1,099.94. The company has a current ratio of 1.26, a quick ratio of 0.74 and a debt-to-equity ratio of 0.44. The stock's 50 day moving average is $980.15 and its two-hundred day moving average is $950.62. The company has a market capitalization of $121.49 billion, a price-to-earnings ratio of 33.81, a PEG ratio of 2.69 and a beta of 1.12.

Parker-Hannifin (NYSE:PH - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The industrial products company reported $9.27 EPS for the quarter, beating the consensus estimate of $8.31 by $0.96. Parker-Hannifin had a return on equity of 28.48% and a net margin of 16.97%. The business had revenue of $5.75 billion for the quarter, compared to analyst estimates of $5.57 billion. During the same quarter in the previous year, the firm earned $7.69 EPS. Parker-Hannifin's quarterly revenue was up 9.8% on a year-over-year basis. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. Equities analysts forecast that Parker-Hannifin Corporation will post 35.60 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 11th. Shareholders of record on Monday, August 31st were paid a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Monday, August 31st. Parker-Hannifin's dividend payout ratio is currently 28.08%.

Insider Activity

In other news, VP Berend Bracht sold 602 shares of the business's stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $1,040.47, for a total value of $626,362.94. Following the transaction, the vice president directly owned 4,399 shares of the company's stock, valued at $4,577,027.53. The trade was a 12.04% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.35% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Wells Fargo & Company assumed coverage on shares of Parker-Hannifin in a research note on Thursday, September 24th. They issued an "equal weight" rating and a $1,050.00 target price on the stock. Evercore boosted their target price on shares of Parker-Hannifin from $1,064.00 to $1,217.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 11th. Wall Street Zen lowered shares of Parker-Hannifin from a "buy" rating to a "hold" rating in a research report on Saturday, August 22nd. Mizuho set a $1,200.00 price target on shares of Parker-Hannifin in a report on Thursday. Finally, Sanford C. Bernstein raised their price target on Parker-Hannifin from $1,037.00 to $1,218.00 and gave the company an "outperform" rating in a research report on Friday, August 14th. Eighteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $1,149.52.

About Parker-Hannifin

Parker-Hannifin Corporation is a diversified manufacturer of motion and control technologies and systems. The company serves aerospace, industrial, and other specialized markets with products designed to control the movement and flow of liquids and gases, as well as mechanical motion and power.

Its product portfolio includes hydraulic and pneumatic systems, filtration and process-control equipment, electromechanical technologies, sealing and shielding products, connectors, pumps, valves, and related components.

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