Truist Financial Corp Raises Position in Parker-Hannifin Corporation $PH

Key Points

• Truist Financial Corp increased its stake in Parker-Hannifin Corporation by 3.8%, resulting in ownership of 166,310 shares valued at approximately $116.16 million.
• Parker-Hannifin reported earnings per share of $7.69 for the most recent quarter, exceeding estimates, with revenues reaching $5.24 billion, reflecting a year-over-year growth of 1.1%.
• The company declared a quarterly dividend of $1.80 per share, with an annual yield of 1.0%, and the payout ratio stands at 26.55%.

Truist Financial Corp increased its stake in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 3.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 166,310 shares of the industrial products company's stock after purchasing an additional 6,086 shares during the quarter. Truist Financial Corp owned 0.13% of Parker-Hannifin worth $116,162,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of PH. Cascade Financial Partners LLC lifted its position in Parker-Hannifin by 3.1% during the first quarter. Cascade Financial Partners LLC now owns 498 shares of the industrial products company's stock valued at $303,000 after purchasing an additional 15 shares during the period. Meiji Yasuda Asset Management Co Ltd. boosted its stake in shares of Parker-Hannifin by 0.8% in the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 1,814 shares of the industrial products company's stock worth $1,103,000 after buying an additional 15 shares during the last quarter. Empowered Funds LLC grew its holdings in Parker-Hannifin by 0.5% during the first quarter. Empowered Funds LLC now owns 2,894 shares of the industrial products company's stock worth $1,759,000 after acquiring an additional 15 shares during the period. Sivia Capital Partners LLC raised its position in Parker-Hannifin by 3.6% during the second quarter. Sivia Capital Partners LLC now owns 430 shares of the industrial products company's stock valued at $300,000 after acquiring an additional 15 shares in the last quarter. Finally, Nicolet Advisory Services LLC lifted its holdings in Parker-Hannifin by 3.5% in the first quarter. Nicolet Advisory Services LLC now owns 468 shares of the industrial products company's stock valued at $262,000 after acquiring an additional 16 shares during the period. Institutional investors own 82.44% of the company's stock.

Insider Buying and Selling at Parker-Hannifin

In related news, VP Matthew A. Jacobson sold 575 shares of Parker-Hannifin stock in a transaction on Friday, August 8th. The shares were sold at an average price of $733.06, for a total transaction of $421,509.50. Following the sale, the vice president directly owned 1,000 shares in the company, valued at $733,060. This trade represents a 36.51% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Angela R. Ives sold 810 shares of the firm's stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $727.36, for a total value of $589,161.60. Following the transaction, the vice president directly owned 2,798 shares in the company, valued at approximately $2,035,153.28. The trade was a 22.45% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 14,039 shares of company stock worth $10,356,566. 0.32% of the stock is owned by insiders.

Parker-Hannifin Stock Down 0.3%

Shares of NYSE PH opened at $755.64 on Thursday. The stock has a market cap of $95.62 billion, a P/E ratio of 27.86, a PEG ratio of 3.14 and a beta of 1.35. The business's fifty day simple moving average is $746.40 and its 200-day simple moving average is $679.39. Parker-Hannifin Corporation has a 12-month low of $488.45 and a 12-month high of $779.77. 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 issued its quarterly 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 company 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%.Parker-Hannifin's revenue was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $6.77 EPS. Parker-Hannifin has set its FY 2026 guidance at 28.400-29.400 EPS. As a group, equities analysts predict that Parker-Hannifin Corporation will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

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

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Citigroup reiterated a "buy" rating and set a $831.00 price target (up previously from $709.00) on shares of Parker-Hannifin in a research report on Monday, July 14th. KeyCorp upped their price objective on shares of Parker-Hannifin from $790.00 to $810.00 and gave the stock an "overweight" rating in a research report on Friday, August 8th. Raymond James Financial lifted their target price on shares of Parker-Hannifin from $735.00 to $845.00 and gave the company an "outperform" rating in a research report on Friday, August 8th. Morgan Stanley boosted their price objective on Parker-Hannifin from $700.00 to $725.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 9th. Finally, Cowen restated a "hold" rating on shares of Parker-Hannifin in a report on Friday, August 29th. Thirteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $771.44.

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.

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