United Asset Strategies Inc. Sells 3,216 Shares of Parker-Hannifin Corporation $PH

Key Points

• United Asset Strategies Inc. cut its Parker-Hannifin stake by 13.8% in the first quarter, selling 3,216 shares and leaving it with 20,060 shares worth about $17.96 million.
• Parker-Hannifin shares were down 2.3% in Tuesday trading to $949.33, while the stock remains up near its 52-week range with a market cap of $119.7 billion.
• The company recently beat quarterly EPS and revenue estimates and raised its dividend to $2.00 per share, with Wall Street maintaining a Moderate Buy consensus and an average price target of about $1,026.86.

United Asset Strategies Inc. lowered its stake in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 13.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 20,060 shares of the industrial products company's stock after selling 3,216 shares during the quarter. Parker-Hannifin accounts for 1.4% of United Asset Strategies Inc.'s investment portfolio, making the stock its 19th biggest position. United Asset Strategies Inc.'s holdings in Parker-Hannifin were worth $17,958,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Parker-Hannifin by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 11,142,535 shares of the industrial products company's stock valued at $9,793,843,000 after buying an additional 33,606 shares in the last quarter. Bank of America Corp DE lifted its position in Parker-Hannifin by 0.6% in the 4th quarter. Bank of America Corp DE now owns 3,926,896 shares of the industrial products company's stock worth $3,451,584,000 after buying an additional 22,305 shares during the last quarter. Capital World Investors boosted its stake in Parker-Hannifin by 0.6% in the fourth quarter. Capital World Investors now owns 2,600,844 shares of the industrial products company's stock worth $2,286,038,000 after buying an additional 16,703 shares in the last quarter. Ameriprise Financial Inc. grew its position in Parker-Hannifin by 0.6% during the third quarter. Ameriprise Financial Inc. now owns 2,207,996 shares of the industrial products company's stock valued at $1,674,132,000 after acquiring an additional 13,309 shares during the last quarter. Finally, Morgan Stanley raised its stake in shares of Parker-Hannifin by 1.1% during the fourth quarter. Morgan Stanley now owns 2,133,044 shares of the industrial products company's stock worth $1,874,862,000 after acquiring an additional 22,367 shares in the last quarter. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Parker-Hannifin Trading Down 2.3%

Shares of NYSE:PH traded down $22.03 during midday trading on Tuesday, hitting $949.33. 148,315 shares of the stock traded hands, compared to its average volume of 734,475. The stock has a market capitalization of $119.70 billion, a PE ratio of 35.04, a P/E/G ratio of 2.57 and a beta of 1.11. The business's 50 day moving average is $907.42 and its two-hundred day moving average is $928.07. The company has a quick ratio of 0.66, a current ratio of 1.13 and a debt-to-equity ratio of 0.46. Parker-Hannifin Corporation has a one year low of $692.02 and a one year high of $1,034.96.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted its earnings results on Thursday, April 30th. The industrial products company reported $8.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.84 by $0.33. Parker-Hannifin had a return on equity of 27.97% and a net margin of 16.58%.The company had revenue of $5.49 billion for the quarter, compared to analysts' expectations of $5.40 billion. During the same period last year, the firm earned $6.94 earnings per share. Parker-Hannifin's quarterly revenue was up 10.6% on a year-over-year basis. Parker-Hannifin has set its FY 2026 guidance at 31.200-31.200 EPS. As a group, research analysts forecast that Parker-Hannifin Corporation will post 31.26 earnings per share for the current year.

Parker-Hannifin Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Friday, May 8th were issued a $2.00 dividend. This is an increase from Parker-Hannifin's previous quarterly dividend of $1.80. The ex-dividend date was Friday, May 8th. This represents a $8.00 annualized dividend and a yield of 0.8%. Parker-Hannifin's dividend payout ratio (DPR) is 29.51%.

Wall Street Analyst Weigh In

Several research firms have weighed in on PH. Mizuho set a $1,050.00 price target on shares of Parker-Hannifin in a research note on Friday, May 1st. Truist Financial lifted their price objective on Parker-Hannifin from $1,147.00 to $1,269.00 and gave the stock a "buy" rating in a report on Thursday, July 2nd. Sanford C. Bernstein initiated coverage on Parker-Hannifin in a research note on Tuesday, June 9th. They issued an "outperform" rating and a $1,026.00 target price for the company. JPMorgan Chase & Co. dropped their target price on Parker-Hannifin from $1,100.00 to $1,060.00 and set an "overweight" rating for the company in a report on Thursday, May 7th. Finally, Evercore set a $1,064.00 price target on Parker-Hannifin in a research report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, Parker-Hannifin presently has an average rating of "Moderate Buy" and an average target price of $1,026.86.

Parker-Hannifin Company Profile

Parker-Hannifin Corporation NYSE: PH is a global manufacturer and provider of motion and control technologies and systems. The company designs, manufactures and services a broad range of engineered components and systems used to control the movement and flow of liquids, gases and hydraulic power. Its product portfolio is applied across demanding environments and includes solutions for industrial manufacturing, aerospace, mobile equipment and other engineered applications.

Parker-Hannifin's product and service offerings span hydraulic and pneumatic components, fittings and fluid connectors, valves, pumps and motors, electromechanical actuators and motion-control systems, filtration and separation products, and seals and sealing systems.

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