Inman Jager Wealth Management LLC purchased a new stake in Parker-Hannifin Corporation (NYSE:PH – Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 296 shares of the industrial products company’s stock, valued at approximately $207,000.
Several other institutional investors have also bought and sold shares of the stock. Wealth Preservation Advisors LLC acquired a new position in Parker-Hannifin in the first quarter worth $27,000. Saudi Central Bank acquired a new position in Parker-Hannifin in the first quarter worth $31,000. Olde Wealth Management LLC acquired a new position in Parker-Hannifin in the first quarter worth $35,000. Chilton Capital Management LLC boosted its stake in Parker-Hannifin by 1,500.0% in the first quarter. Chilton Capital Management LLC now owns 64 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 60 shares in the last quarter. Finally, Accent Capital Management LLC acquired a new position in Parker-Hannifin in the first quarter worth $41,000. Institutional investors and hedge funds own 82.44% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities analysts have commented on PH shares. Stifel Nicolaus boosted their price objective on Parker-Hannifin from $717.00 to $726.00 and gave the stock a “hold” rating in a research note on Friday, August 8th. Deutsche Bank Aktiengesellschaft lowered Parker-Hannifin from a “buy” rating to a “hold” rating and set a $809.00 price target on the stock. in a research note on Thursday, September 4th. Truist Financial upped their price target on Parker-Hannifin from $822.00 to $910.00 and gave the company a “buy” rating in a research note on Wednesday. KeyCorp upped their price target on Parker-Hannifin from $790.00 to $810.00 and gave the company an “overweight” rating in a research note on Friday, August 8th. Finally, Susquehanna assumed coverage on Parker-Hannifin in a research note on Friday, August 15th. They set a “positive” rating and a $860.00 price target on the stock. Fourteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, Parker-Hannifin presently has an average rating of “Moderate Buy” and an average target price of $786.78.
Parker-Hannifin Trading Down 3.0%
NYSE:PH opened at $716.31 on Friday. Parker-Hannifin Corporation has a 1-year low of $488.45 and a 1-year high of $779.77. The business’s 50-day moving average price is $748.97 and its two-hundred day moving average price is $685.49. The company has a current ratio of 1.19, a quick ratio of 0.71 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $90.64 billion, a price-to-earnings ratio of 26.41, a PEG ratio of 2.97 and a beta of 1.35.
Parker-Hannifin (NYSE:PH – Get Free Report) last released its earnings results on Thursday, August 7th. The industrial products company reported $7.69 earnings per share for the quarter, beating the consensus estimate of $7.08 by $0.61. Parker-Hannifin had a return on equity of 26.80% and a net margin of 17.79%.The firm had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.10 billion. During the same quarter in the prior year, the firm posted $6.77 earnings per share. The company’s quarterly revenue was up 1.1% on a year-over-year basis. Parker-Hannifin has set its FY 2026 guidance at 28.400-29.400 EPS. On average, equities analysts expect that Parker-Hannifin Corporation will post 26.71 earnings per share for the current year.
Parker-Hannifin Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Tuesday, September 2nd were paid a $1.80 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $7.20 annualized dividend and a yield of 1.0%. Parker-Hannifin’s dividend payout ratio is presently 26.55%.
Insider Transactions at Parker-Hannifin
In other news, VP Thomas C. Gentile sold 1,133 shares of the firm’s stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $729.50, for a total transaction of $826,523.50. Following the sale, the vice president owned 5,465 shares of the company’s stock, valued at $3,986,717.50. This trade represents a 17.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Joseph R. Leonti sold 4,625 shares of the firm’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 sale, the executive vice president directly owned 13,878 shares in the company, valued at approximately $10,420,157.52. This represents a 25.00% 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 valued at $10,356,566. Corporate insiders own 0.32% of the company’s stock.
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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