Jennison Associates LLC Lowers Holdings in Parker-Hannifin Corporation $PH

Jennison Associates LLC reduced its position in shares of Parker-Hannifin Corporation (NYSE:PH) by 2.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 315,733 shares of the industrial products company’s stock after selling 7,964 shares during the period. Jennison Associates LLC owned approximately 0.25% of Parker-Hannifin worth $239,373,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in PH. Interchange Capital Partners LLC purchased a new position in Parker-Hannifin during the second quarter worth about $31,000. State of Wyoming bought a new stake in shares of Parker-Hannifin during the 2nd quarter valued at about $38,000. Princeton Global Asset Management LLC grew its holdings in shares of Parker-Hannifin by 56.1% during the second quarter. Princeton Global Asset Management LLC now owns 64 shares of the industrial products company’s stock worth $45,000 after purchasing an additional 23 shares in the last quarter. Sagard Holdings Management Inc. purchased a new position in shares of Parker-Hannifin during the second quarter worth about $46,000. Finally, Financial Consulate Inc. bought a new position in shares of Parker-Hannifin in the third quarter worth approximately $47,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Trading Down 1.2%

Shares of PH stock opened at $927.58 on Friday. The stock has a market capitalization of $117.05 billion, a PE ratio of 33.05, a P/E/G ratio of 3.27 and a beta of 1.25. Parker-Hannifin Corporation has a 1-year low of $488.45 and a 1-year high of $954.30. The business has a 50-day moving average of $886.56 and a 200 day moving average of $798.60. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.07 and a quick ratio of 0.61.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings results on Thursday, November 6th. The industrial products company reported $7.22 EPS for the quarter, topping analysts’ consensus estimates of $6.62 by $0.60. Parker-Hannifin had a return on equity of 27.23% and a net margin of 18.17%.The business had revenue of $5.08 billion for the quarter, compared to analysts’ expectations of $4.94 billion. During the same period in the previous year, the firm earned $6.20 EPS. The business’s quarterly revenue was up 3.7% on a year-over-year basis. Parker-Hannifin has set its FY 2026 guidance at 29.600-30.400 EPS and its FY 2026 guidance at 29.600-30.400 EPS. As a group, sell-side analysts anticipate that Parker-Hannifin Corporation will post 26.71 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Shareholders of record on Friday, February 6th will be given a $1.80 dividend. The ex-dividend date is Friday, February 6th. This represents a $7.20 dividend on an annualized basis and a dividend yield of 0.8%. Parker-Hannifin’s payout ratio is presently 25.65%.

Insider Activity

In other news, VP Rachid Bendali sold 1,437 shares of the stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $852.99, for a total transaction of $1,225,746.63. Following the completion of the sale, the vice president directly owned 2,714 shares in the company, valued at approximately $2,315,014.86. This represents a 34.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Andrew D. Ross sold 2,488 shares of the business’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $894.81, for a total value of $2,226,287.28. Following the transaction, the chief operating officer owned 13,120 shares in the company, valued at approximately $11,739,907.20. This represents a 15.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 7,432 shares of company stock valued at $6,484,116. Insiders own 0.32% of the company’s stock.

Wall Street Analysts Forecast Growth

PH has been the subject of a number of research reports. Susquehanna reissued a “positive” rating and issued a $1,000.00 price target on shares of Parker-Hannifin in a research note on Wednesday, November 12th. Barclays upped their target price on shares of Parker-Hannifin from $950.00 to $990.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 7th. Truist Financial lifted their price target on Parker-Hannifin from $977.00 to $1,097.00 and gave the stock a “buy” rating in a research note on Thursday, December 18th. JPMorgan Chase & Co. upped their price objective on Parker-Hannifin from $1,050.00 to $1,083.00 and gave the stock an “overweight” rating in a report on Friday, January 16th. Finally, The Goldman Sachs Group boosted their target price on Parker-Hannifin from $900.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Tuesday, December 16th. Seventeen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $950.17.

About Parker-Hannifin

Parker-Hannifin Corporation (NYSE: PH) is a global manufacturer and provider of motion and control technologies and systems. The company designs, manufactures and services a broad range of engineered components and systems used to control the movement and flow of liquids, gases and hydraulic power. Its product portfolio is applied across demanding environments and includes solutions for industrial manufacturing, aerospace, mobile equipment and other engineered applications.

Parker-Hannifin’s product and service offerings span hydraulic and pneumatic components, fittings and fluid connectors, valves, pumps and motors, electromechanical actuators and motion-control systems, filtration and separation products, and seals and sealing systems.