Wesbanco Bank Inc. Acquires 418 Shares of Parker-Hannifin Corporation $PH

Key Points

• Wesbanco Bank Inc. has increased its holdings in Parker-Hannifin Corporation by 1.3%, owning a total of 32,753 shares valued at approximately $22.88 million.
• Parker-Hannifin reported $7.69 earnings per share for the last quarter, exceeding analysts' expectations, with a net revenue of $5.24 billion.
• The firm declared a quarterly dividend of $1.80 per share, resulting in an annualized yield of 0.9%.

Wesbanco Bank Inc. increased its holdings in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 1.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,753 shares of the industrial products company's stock after purchasing an additional 418 shares during the period. Wesbanco Bank Inc.'s holdings in Parker-Hannifin were worth $22,877,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in Parker-Hannifin by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 11,023,764 shares of the industrial products company's stock valued at $6,700,795,000 after acquiring an additional 168,990 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Parker-Hannifin by 52.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,443,104 shares of the industrial products company's stock valued at $1,485,042,000 after acquiring an additional 842,262 shares in the last quarter. Wellington Management Group LLP lifted its stake in Parker-Hannifin by 11.6% in the 1st quarter. Wellington Management Group LLP now owns 2,009,250 shares of the industrial products company's stock valued at $1,221,323,000 after acquiring an additional 208,573 shares in the last quarter. GAMMA Investing LLC lifted its stake in Parker-Hannifin by 66,111.8% in the 1st quarter. GAMMA Investing LLC now owns 1,735,412 shares of the industrial products company's stock valued at $1,054,870,000 after acquiring an additional 1,732,791 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Parker-Hannifin by 0.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,594,347 shares of the industrial products company's stock valued at $969,124,000 after acquiring an additional 11,815 shares in the last quarter. Institutional investors own 82.44% of the company's stock.

Parker-Hannifin Trading Down 1.2%

Shares of Parker-Hannifin stock opened at $760.08 on Friday. Parker-Hannifin Corporation has a 12-month low of $488.45 and a 12-month high of $779.77. The stock has a market cap of $97.12 billion, a P/E ratio of 28.03, a P/E/G ratio of 3.19 and a beta of 1.35. The company has a quick ratio of 0.71, a current ratio of 1.19 and a debt-to-equity ratio of 0.55. The business's 50 day moving average is $736.22 and its 200-day moving average is $668.41.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted its quarterly earnings results 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. Parker-Hannifin had a return on equity of 26.80% and a net margin of 17.79%.The business had revenue of $5.24 billion for the quarter, compared to analysts' expectations of $5.10 billion. During the same quarter in the prior year, the business earned $6.77 EPS. The firm's revenue for the quarter was up 1.1% on a year-over-year basis. Parker-Hannifin has set its FY 2026 guidance at 28.400-29.400 EPS. Equities research analysts predict that Parker-Hannifin Corporation will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

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

Insiders Place Their Bets

In related news, VP Robert W. Malone sold 2,257 shares of the stock in a transaction on Friday, August 8th. The stock was sold at an average price of $730.66, for a total value of $1,649,099.62. Following the sale, the vice president owned 5,866 shares in the company, valued at approximately $4,286,051.56. This represents a 27.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Joseph R. Leonti sold 4,625 shares of the stock in a transaction on Monday, August 25th. The shares were 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 position. The disclosure for this sale can be found here. Insiders have sold 14,039 shares of company stock worth $10,356,566 in the last quarter. Company insiders own 0.39% of the company's stock.

Analysts Set New Price Targets

Several research firms have commented on PH. Barclays boosted their target price on Parker-Hannifin from $750.00 to $776.00 and gave the company an "overweight" rating in a research note on Friday, August 8th. Cowen restated a "hold" rating on shares of Parker-Hannifin in a research note on Friday, August 29th. Raymond James Financial boosted their target price on Parker-Hannifin from $735.00 to $845.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. Evercore ISI reiterated an "outperform" rating on shares of Parker-Hannifin in a research note on Tuesday, August 19th. Finally, Wells Fargo & Company upped their price objective on Parker-Hannifin from $770.00 to $800.00 and gave the stock an "overweight" rating in a research note on Friday, August 8th. Thirteen investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, Parker-Hannifin has an average rating of "Moderate Buy" and an average price target 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.

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