Three Bridge Wealth Advisors LLC Buys Shares of 452 Parker-Hannifin Corporation $PH

Key Points

• Three Bridge Wealth Advisors LLC has purchased 452 shares of Parker-Hannifin Corporation, valued at approximately $316,000, during the second quarter.
• Parker-Hannifin received several upgrades from analysts, with Wells Fargo and KeyCorp raising their price targets, reflecting a consensus target of $771.44 for the stock.
• The company declared a quarterly dividend of $1.80 per share, with an annualized yield of 0.9%, and maintains a dividend payout ratio of 26.55%.

Three Bridge Wealth Advisors LLC bought a new stake in Parker-Hannifin Corporation (NYSE:PH - Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund bought 452 shares of the industrial products company's stock, valued at approximately $316,000.

Several other institutional investors also recently bought and sold shares of the company. Beacon Financial Advisory LLC acquired a new position in Parker-Hannifin in the 2nd quarter valued at about $610,000. OLD National Bancorp IN grew its position in shares of Parker-Hannifin by 3.2% during the second quarter. OLD National Bancorp IN now owns 618 shares of the industrial products company's stock worth $432,000 after buying an additional 19 shares in the last quarter. Checchi Capital Advisers LLC grew its position in shares of Parker-Hannifin by 5.4% during the second quarter. Checchi Capital Advisers LLC now owns 1,456 shares of the industrial products company's stock worth $1,017,000 after buying an additional 74 shares in the last quarter. AMF Tjanstepension AB grew its position in shares of Parker-Hannifin by 28.2% during the second quarter. AMF Tjanstepension AB now owns 533,895 shares of the industrial products company's stock worth $372,991,000 after buying an additional 117,511 shares in the last quarter. Finally, Quent Capital LLC grew its position in shares of Parker-Hannifin by 1.9% during the second quarter. Quent Capital LLC now owns 973 shares of the industrial products company's stock worth $680,000 after buying an additional 18 shares in the last quarter. 82.44% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Wells Fargo & Company boosted their price objective on Parker-Hannifin from $770.00 to $800.00 and gave the stock an "overweight" rating in a research report on Friday, August 8th. Wall Street Zen upgraded Parker-Hannifin from a "hold" rating to a "buy" rating in a research note on Saturday, September 20th. Cowen restated a "hold" rating on shares of Parker-Hannifin in a research note on Friday, August 29th. KeyCorp boosted their target price on Parker-Hannifin from $790.00 to $810.00 and gave the stock an "overweight" rating in a research note on Friday, August 8th. Finally, Citigroup restated a "buy" rating and set a $831.00 target price (up previously from $709.00) on shares of Parker-Hannifin in a research note on Monday, July 14th. Fourteen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $771.44.

Insiders Place Their Bets

In other news, EVP Joseph R. Leonti sold 4,625 shares of the stock in a transaction dated 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 owned 13,878 shares in the company, valued at approximately $10,420,157.52. This trade represents a 25.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Andrew D. Ross sold 4,361 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $732.66, for a total value of $3,195,130.26. Following the sale, the chief operating officer owned 13,120 shares of the company's stock, valued at approximately $9,612,499.20. This trade represents a 24.95% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 14,039 shares of company stock valued at $10,356,566. Company insiders own 0.32% of the company's stock.

Parker-Hannifin Stock Performance

NYSE PH opened at $763.72 on Friday. The business's 50-day moving average price is $747.47 and its 200 day moving average price is $681.70. Parker-Hannifin Corporation has a twelve month low of $488.45 and a twelve month high of $779.77. The company has a market capitalization of $96.64 billion, a PE ratio of 28.16, a price-to-earnings-growth ratio of 3.16 and a beta of 1.35. The company has a current ratio of 1.19, a quick ratio of 0.71 and a debt-to-equity ratio of 0.55.

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

Parker-Hannifin Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Tuesday, September 2nd were issued a $1.80 dividend. This represents a $7.20 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Tuesday, September 2nd. Parker-Hannifin's dividend payout ratio (DPR) 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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