Parker-Hannifin Corporation $PH Shares Sold by Woodline Partners LP

Key Points

• Woodline Partners LP reduced its holdings in Parker-Hannifin Corporation by 61.0%, now owning 28,206 shares worth approximately $17.15 million after selling 44,064 shares.
• Parker-Hannifin reported $7.69 EPS for the last quarter, exceeding expectations, with revenue of $5.24 billion, reflecting a 1.1% year-over-year increase.
• The company announced a quarterly dividend of $1.80 per share, resulting in a 0.9% dividend yield, payable on September 12th to shareholders of record on September 2nd.

Woodline Partners LP lessened its holdings in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 61.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 28,206 shares of the industrial products company's stock after selling 44,064 shares during the period. Woodline Partners LP's holdings in Parker-Hannifin were worth $17,145,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Cascade Financial Partners LLC lifted its position in Parker-Hannifin by 3.1% in the first quarter. Cascade Financial Partners LLC now owns 498 shares of the industrial products company's stock valued at $303,000 after buying an additional 15 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. raised its stake in shares of Parker-Hannifin by 0.8% in the 1st quarter. Meiji Yasuda Asset Management Co Ltd. now owns 1,814 shares of the industrial products company's stock valued at $1,103,000 after acquiring an additional 15 shares during the period. Empowered Funds LLC lifted its holdings in shares of Parker-Hannifin by 0.5% in the 1st 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 last quarter. Nicolet Advisory Services LLC lifted its holdings in shares of Parker-Hannifin by 3.5% in the 1st quarter. Nicolet Advisory Services LLC now owns 468 shares of the industrial products company's stock worth $262,000 after acquiring an additional 16 shares during the last quarter. Finally, E Fund Management Co. Ltd. boosted its position in shares of Parker-Hannifin by 5.0% during the 1st quarter. E Fund Management Co. Ltd. now owns 336 shares of the industrial products company's stock worth $204,000 after purchasing an additional 16 shares during the period. 82.44% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have commented on PH shares. Wells Fargo & Company upped their price target on Parker-Hannifin from $770.00 to $800.00 and gave the stock an "overweight" rating in a research note on Friday, August 8th. Wall Street Zen downgraded Parker-Hannifin from a "buy" rating to a "hold" rating in a report on Sunday, September 7th. KeyCorp increased 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. Evercore ISI reaffirmed an "outperform" rating on shares of Parker-Hannifin in a research report on Tuesday, August 19th. Finally, Morgan Stanley increased their price target on shares of Parker-Hannifin from $700.00 to $725.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 9th. Thirteen analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Parker-Hannifin has an average rating of "Moderate Buy" and a consensus price target of $770.94.

Insiders Place Their Bets

In other Parker-Hannifin news, VP Robert W. Malone sold 2,257 shares of the firm's 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 directly owned 5,866 shares in the company, valued at $4,286,051.56. This trade represents a 27.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Joseph R. Leonti sold 4,625 shares of the company's 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 transaction, the executive vice president directly owned 13,878 shares of the company's stock, valued at approximately $10,420,157.52. This represents a 25.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 14,039 shares of company stock worth $10,356,566. 0.39% of the stock is currently owned by insiders.

Parker-Hannifin Stock Down 1.2%

PH stock traded down $9.59 during mid-day trading on Friday, reaching $760.08. The company had a trading volume of 463,454 shares, compared to its average volume of 581,947. The firm has a fifty day simple moving average of $736.22 and a 200 day simple moving average of $668.36. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.71 and a current ratio of 1.19. The company has a market capitalization of $97.12 billion, a price-to-earnings ratio of 28.03, a price-to-earnings-growth ratio of 3.19 and a beta of 1.35. Parker-Hannifin Corporation has a fifty-two week low of $488.45 and a fifty-two week high of $779.77.

Parker-Hannifin (NYSE:PH - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The industrial products company reported $7.69 EPS for the quarter, topping analysts' consensus estimates of $7.08 by $0.61. The business had revenue of $5.24 billion during 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 business's revenue for the quarter was up 1.1% on a year-over-year basis. During the same period in the previous year, the company posted $6.77 earnings per share. Parker-Hannifin has set its FY 2026 guidance at 28.400-29.400 EPS. Analysts forecast that Parker-Hannifin Corporation will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

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 presently 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.