The Manufacturers Life Insurance Company Sells 110,720 Shares of Parker-Hannifin Corporation $PH

Key Points

• The Manufacturers Life Insurance Company reduced its stake in Parker-Hannifin Corporation by 32.0%, now owning approximately 0.18% of the company valued at $142.7 million.
• VP Angela R. Ives and VP Thomas C. Gentile both sold shares on August 8, resulting in significant decreases in their ownership, with Ives selling 810 shares and Gentile selling 1,133 shares.
• Parker-Hannifin's most recent earnings report indicated an EPS of $7.69, exceeding expectations, with a 1.1% increase in quarterly revenue year-over-year, totaling $5.24 billion.

The Manufacturers Life Insurance Company cut its holdings in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 32.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 234,821 shares of the industrial products company's stock after selling 110,720 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.18% of Parker-Hannifin worth $142,736,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. SG Americas Securities LLC increased its position in shares of Parker-Hannifin by 27.2% during the 1st quarter. SG Americas Securities LLC now owns 31,011 shares of the industrial products company's stock valued at $18,850,000 after purchasing an additional 6,630 shares during the last quarter. Alley Investment Management Company LLC purchased a new stake in shares of Parker-Hannifin during the 1st quarter valued at $7,996,000. Community Financial Services Group LLC increased its position in shares of Parker-Hannifin by 1,338.2% during the 1st quarter. Community Financial Services Group LLC now owns 6,630 shares of the industrial products company's stock valued at $4,030,000 after purchasing an additional 6,169 shares during the last quarter. Heartland Bank & Trust Co purchased a new stake in Parker-Hannifin in the 1st quarter worth about $260,000. Finally, Banco Santander S.A. raised its stake 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 valued at $21,667,000 after acquiring an additional 14,705 shares during the period. 82.44% of the stock is owned by hedge funds and other institutional investors.

Parker-Hannifin Trading Up 0.3%

Shares of NYSE:PH traded up $2.24 during trading on Thursday, reaching $750.77. 132,110 shares of the company traded hands, compared to its average volume of 743,878. The firm has a market capitalization of $95.93 billion, a price-to-earnings ratio of 27.67, a P/E/G ratio of 3.15 and a beta of 1.35. Parker-Hannifin Corporation has a 52-week low of $488.45 and a 52-week high of $773.30. The company has a current ratio of 1.19, a quick ratio of 0.71 and a debt-to-equity ratio of 0.55. The business's fifty day moving average is $728.63 and its 200-day moving average is $664.55.

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 analysts' consensus estimates of $7.08 by $0.61. The firm had revenue of $5.24 billion during the quarter, compared to analyst estimates of $5.10 billion. Parker-Hannifin had a return on equity of 26.80% and a net margin of 17.79%.The business's quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $6.77 earnings per share. Parker-Hannifin has set its FY 2026 guidance at 28.400-29.400 EPS. As a group, analysts forecast that Parker-Hannifin Corporation will post 26.71 EPS for the current year.

Parker-Hannifin Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on PH shares. Mizuho set a $785.00 price objective on Parker-Hannifin in a research note on Friday, May 16th. Deutsche Bank Aktiengesellschaft cut Parker-Hannifin from a "buy" rating to a "hold" rating and set a $809.00 price objective on the stock. in a research note on Thursday. Cowen restated a "hold" rating on shares of Parker-Hannifin in a research note on Friday, August 29th. Barclays boosted their price objective on Parker-Hannifin from $750.00 to $776.00 and gave the company an "overweight" rating in a research note on Friday, August 8th. Finally, Wells Fargo & Company boosted their price objective on Parker-Hannifin from $770.00 to $800.00 and gave the company an "overweight" rating in a research note on Friday, August 8th. Thirteen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $770.94.

Insider Activity at Parker-Hannifin

In related news, VP Thomas C. Gentile sold 1,133 shares of the company's stock in a transaction that occurred 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 in the company, valued at $3,986,717.50. This represents a 17.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Angela R. Ives sold 810 shares of the company's stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $727.36, for a total value of $589,161.60. Following the transaction, the vice president owned 2,798 shares of the company's stock, valued at approximately $2,035,153.28. This represents a 22.45% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 14,039 shares of company stock valued at $10,356,566 over the last 90 days. Company insiders own 0.39% of the company's stock.

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.