Ferguson Wellman Capital Management Inc. Sells 7,287 Shares of Parker-Hannifin Corporation $PH

Ferguson Wellman Capital Management Inc. reduced its position in shares of Parker-Hannifin Corporation (NYSE:PH) by 5.8% during the 2nd quarter, HoldingsChannel reports. The firm owned 118,495 shares of the industrial products company’s stock after selling 7,287 shares during the period. Parker-Hannifin comprises about 1.4% of Ferguson Wellman Capital Management Inc.’s investment portfolio, making the stock its 21st largest holding. Ferguson Wellman Capital Management Inc.’s holdings in Parker-Hannifin were worth $115,902,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. BlackRock Inc. bought a new position in shares of Parker-Hannifin in the 2nd quarter worth $10,163,362,000. Bank of America Corp DE grew its position in Parker-Hannifin by 0.6% during the 4th quarter. Bank of America Corp DE now owns 3,926,896 shares of the industrial products company’s stock worth $3,451,584,000 after purchasing an additional 22,305 shares during the last quarter. Capital World Investors increased its position in shares of Parker-Hannifin by 0.6% in the 4th quarter. Capital World Investors now owns 2,600,844 shares of the industrial products company’s stock valued at $2,286,038,000 after acquiring an additional 16,703 shares during the period. Morgan Stanley increased its holdings in shares of Parker-Hannifin by 1.1% in the fourth quarter. Morgan Stanley now owns 2,133,044 shares of the industrial products company’s stock valued at $1,874,862,000 after purchasing an additional 22,367 shares during the period. Finally, Norges Bank acquired a new position in Parker-Hannifin in the 4th quarter worth approximately $1,756,230,000. Institutional investors own 82.44% of the company’s stock.

Insider Activity at Parker-Hannifin

In other news, VP Berend Bracht sold 602 shares of the firm’s stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $1,040.47, for a total transaction of $626,362.94. Following the sale, the vice president owned 4,399 shares of the company’s stock, valued at approximately $4,577,027.53. This trade represents a 12.04% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.32% of the company’s stock.

Parker-Hannifin Price Performance

Parker-Hannifin stock opened at $995.24 on Friday. The stock has a market cap of $125.45 billion, a P/E ratio of 34.93, a PEG ratio of 2.63 and a beta of 1.12. Parker-Hannifin Corporation has a 12-month low of $715.37 and a 12-month high of $1,099.94. The company has a current ratio of 1.26, a quick ratio of 0.74 and a debt-to-equity ratio of 0.44. The company has a 50-day moving average price of $991.71 and a 200 day moving average price of $950.48.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings results on Thursday, August 6th. The industrial products company reported $9.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.31 by $0.96. The business had revenue of $5.75 billion for the quarter, compared to the consensus estimate of $5.57 billion. Parker-Hannifin had a net margin of 16.97% and a return on equity of 28.48%. The business’s revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the firm earned $7.69 EPS. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. Sell-side analysts anticipate that Parker-Hannifin Corporation will post 34.93 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Monday, August 31st will be given a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Monday, August 31st. Parker-Hannifin’s dividend payout ratio is currently 28.08%.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Citigroup upped their price objective on shares of Parker-Hannifin from $1,141.00 to $1,232.00 and gave the company a “buy” rating in a report on Friday, August 7th. Sanford C. Bernstein boosted their target price on shares of Parker-Hannifin from $1,037.00 to $1,218.00 and gave the company an “outperform” rating in a research report on Friday, August 14th. Truist Financial upped their price target on shares of Parker-Hannifin from $1,269.00 to $1,358.00 and gave the company a “buy” rating in a report on Friday, August 7th. KeyCorp increased their price target on Parker-Hannifin from $1,100.00 to $1,210.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Finally, JPMorgan Chase & Co. reduced their price objective on Parker-Hannifin from $1,100.00 to $1,060.00 and set an “overweight” rating for the company in a research note on Thursday, May 7th. Seventeen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Parker-Hannifin presently has a consensus rating of “Moderate Buy” and an average price target of $1,100.00.

Parker-Hannifin Profile

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.