Voya Investment Management LLC Decreases Holdings in Parker-Hannifin Corporation $PH

Key Points

• Voya Investment Management LLC reduced its stake in Parker-Hannifin Corporation by 1.8%, now owning approximately 548,351 shares valued at $333 million.
• Wall Street analysts have raised their price targets for Parker-Hannifin, with estimates ranging from $725 to $845, indicating a positive outlook for the stock.
• Parker-Hannifin announced a quarterly dividend of $1.80 per share, maintaining a dividend payout ratio of 26.55% and highlighting its financial stability.

Voya Investment Management LLC cut its holdings in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 1.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 548,351 shares of the industrial products company's stock after selling 9,789 shares during the quarter. Voya Investment Management LLC owned 0.43% of Parker-Hannifin worth $333,006,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in PH. Wealth Preservation Advisors LLC purchased a new position in shares of Parker-Hannifin during the 1st quarter valued at about $27,000. Mpwm Advisory Solutions LLC purchased a new position in shares of Parker-Hannifin during the 4th quarter valued at approximately $32,000. Saudi Central Bank acquired a new position in shares of Parker-Hannifin in the 1st quarter valued at $31,000. Olde Wealth Management LLC purchased a new stake in Parker-Hannifin during the first quarter worth $35,000. Finally, Chilton Capital Management LLC boosted its holdings in Parker-Hannifin by 1,500.0% during the first quarter. Chilton Capital Management LLC now owns 64 shares of the industrial products company's stock worth $39,000 after buying an additional 60 shares in the last quarter. Hedge funds and other institutional investors own 82.44% of the company's stock.

Parker-Hannifin Trading Up 0.2%

Shares of NYSE:PH traded up $1.47 during mid-day trading on Monday, reaching $760.25. 544,489 shares of the company were exchanged, compared to its average volume of 569,299. The firm has a market cap of $97.14 billion, a price-to-earnings ratio of 28.03, a P/E/G ratio of 3.14 and a beta of 1.35. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.19 and a quick ratio of 0.71. Parker-Hannifin Corporation has a 1 year low of $488.45 and a 1 year high of $779.77. The firm's 50-day simple moving average is $736.22 and its 200 day simple moving average is $668.50.

Parker-Hannifin (NYSE:PH - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The industrial products company reported $7.69 EPS for the quarter, topping the consensus estimate of $7.08 by $0.61. The business 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 company's quarterly revenue was up 1.1% on a year-over-year basis. During the same period last year, the business posted $6.77 earnings per share. Parker-Hannifin has set its FY 2026 guidance at 28.400-29.400 EPS. Equities research analysts forecast that Parker-Hannifin Corporation will post 26.71 EPS for the current year.

Parker-Hannifin Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Tuesday, September 2nd were given a dividend of $1.80 per share. This represents a $7.20 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Tuesday, September 2nd. Parker-Hannifin's dividend payout ratio is currently 26.55%.

Insiders Place Their Bets

In related news, VP Robert W. Malone sold 2,257 shares of Parker-Hannifin stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $730.66, for a total value of $1,649,099.62. Following the completion of the transaction, the vice president owned 5,866 shares in the company, valued at approximately $4,286,051.56. The trade was a 27.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Andrew D. Ross sold 4,361 shares of the business's stock in a transaction on Friday, August 8th. The stock was sold at an average price of $732.66, for a total transaction of $3,195,130.26. Following the completion of the transaction, 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. 0.39% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Wall Street Zen lowered shares of Parker-Hannifin from a "buy" rating to a "hold" rating in a research note on Sunday, September 7th. KeyCorp raised their price target on shares of Parker-Hannifin from $790.00 to $810.00 and gave the stock an "overweight" rating in a research note on Friday, August 8th. Morgan Stanley raised their target price on shares of Parker-Hannifin from $700.00 to $725.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 9th. Barclays boosted their price objective on Parker-Hannifin from $750.00 to $776.00 and gave the stock an "overweight" rating in a research note on Friday, August 8th. Finally, Evercore ISI reaffirmed an "outperform" rating on shares of Parker-Hannifin in a research note on Tuesday, August 19th. Thirteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $770.94.

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.