Parker-Hannifin Corporation $PH Stake Increased by Wealthfront Advisers LLC

Wealthfront Advisers LLC increased its stake in Parker-Hannifin Corporation (NYSE:PH) by 8.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,433 shares of the industrial products company’s stock after buying an additional 1,097 shares during the period. Wealthfront Advisers LLC’s holdings in Parker-Hannifin were worth $9,383,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in PH. Nuveen LLC bought a new stake in shares of Parker-Hannifin in the first quarter worth $933,089,000. Price T Rowe Associates Inc. MD increased its stake in shares of Parker-Hannifin by 52.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,443,104 shares of the industrial products company’s stock worth $1,485,042,000 after buying an additional 842,262 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Parker-Hannifin by 11.6% in the first quarter. Wellington Management Group LLP now owns 2,009,250 shares of the industrial products company’s stock worth $1,221,323,000 after buying an additional 208,573 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Parker-Hannifin by 23.8% in the first quarter. Goldman Sachs Group Inc. now owns 996,738 shares of the industrial products company’s stock worth $605,867,000 after buying an additional 191,799 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Parker-Hannifin by 1.6% in the first quarter. Vanguard Group Inc. now owns 11,023,764 shares of the industrial products company’s stock worth $6,700,795,000 after buying an additional 168,990 shares during the last quarter. Institutional investors own 82.44% of the company’s stock.

Insider Activity

In other Parker-Hannifin news, VP Thomas C. Gentile sold 1,133 shares of the firm’s stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $729.50, for a total transaction of $826,523.50. Following the transaction, the vice president owned 5,465 shares of the company’s stock, valued at approximately $3,986,717.50. This trade represents a 17.17% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Andrew D. Ross sold 4,361 shares of the firm’s stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $732.66, for a total transaction of $3,195,130.26. Following the transaction, the chief operating officer directly owned 13,120 shares in the company, valued at approximately $9,612,499.20. The trade was a 24.95% 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 90 days. 0.32% of the stock is currently owned by corporate insiders.

Parker-Hannifin Price Performance

NYSE PH opened at $775.02 on Tuesday. Parker-Hannifin Corporation has a 52 week low of $488.45 and a 52 week high of $780.00. 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 stock has a market cap of $98.07 billion, a price-to-earnings ratio of 28.58, a price-to-earnings-growth ratio of 3.19 and a beta of 1.35. The company has a 50-day moving average price of $752.41 and a two-hundred day moving average price of $699.32.

Parker-Hannifin (NYSE:PH) last posted its 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 firm had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.10 billion. Parker-Hannifin had a net margin of 17.79% and a return on equity of 26.80%. Parker-Hannifin’s quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $6.77 EPS. Parker-Hannifin has set its FY 2026 guidance at 28.400-29.400 EPS. Analysts forecast that Parker-Hannifin Corporation will post 26.71 EPS for the current year.

Parker-Hannifin Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Shareholders of record on Friday, November 7th will be paid a dividend of $1.80 per share. The ex-dividend date of this dividend is Friday, November 7th. This represents a $7.20 annualized dividend and a yield of 0.9%. Parker-Hannifin’s dividend payout ratio (DPR) is presently 26.55%.

Analyst Ratings Changes

A number of analysts recently issued reports on PH shares. KeyCorp lifted their price target on shares of Parker-Hannifin from $810.00 to $825.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 14th. Mizuho lifted their price objective on shares of Parker-Hannifin from $800.00 to $825.00 and gave the stock an “outperform” rating in a report on Friday, October 17th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Parker-Hannifin in a report on Wednesday, October 8th. Morgan Stanley lifted their price objective on shares of Parker-Hannifin from $700.00 to $725.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 9th. Finally, Truist Financial lifted their price objective on shares of Parker-Hannifin from $822.00 to $910.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Fourteen investment 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, the company presently has an average rating of “Moderate Buy” and a consensus price target of $789.67.

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.