Cyndeo Wealth Partners LLC Sells 570 Shares of Parker-Hannifin Corporation $PH

Cyndeo Wealth Partners LLC reduced its position in shares of Parker-Hannifin Corporation (NYSE:PH) by 12.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,903 shares of the industrial products company’s stock after selling 570 shares during the period. Cyndeo Wealth Partners LLC’s holdings in Parker-Hannifin were worth $3,729,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of PH. Pension & Wealth Management Advisors Inc. acquired a new stake in Parker-Hannifin in the third quarter valued at $30,000. V Square Quantitative Management LLC increased its holdings in shares of Parker-Hannifin by 11.4% in the 3rd quarter. V Square Quantitative Management LLC now owns 695 shares of the industrial products company’s stock valued at $664,000 after acquiring an additional 71 shares during the last quarter. Comprehensive Financial Consultants Institutional Inc. increased its holdings in shares of Parker-Hannifin by 2.4% in the 3rd quarter. Comprehensive Financial Consultants Institutional Inc. now owns 3,103 shares of the industrial products company’s stock valued at $2,965,000 after acquiring an additional 72 shares during the last quarter. Davidson Capital Management Inc. increased its holdings in shares of Parker-Hannifin by 2.3% in the 3rd quarter. Davidson Capital Management Inc. now owns 1,528 shares of the industrial products company’s stock valued at $1,460,000 after acquiring an additional 34 shares during the last quarter. Finally, Community Trust & Investment Co. raised its position in shares of Parker-Hannifin by 0.5% during the 3rd quarter. Community Trust & Investment Co. now owns 33,239 shares of the industrial products company’s stock worth $31,757,000 after acquiring an additional 162 shares in the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Stock Performance

NYSE PH opened at $963.35 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.26 and a quick ratio of 0.74. Parker-Hannifin Corporation has a 1 year low of $722.12 and a 1 year high of $1,099.94. The company has a market capitalization of $121.49 billion, a PE ratio of 33.81, a P/E/G ratio of 2.69 and a beta of 1.12. The company has a fifty day moving average of $980.15 and a two-hundred day moving average of $949.99.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings data on Thursday, August 6th. The industrial products company reported $9.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.31 by $0.96. Parker-Hannifin had a return on equity of 28.48% and a net margin of 16.97%. The company had revenue of $5.75 billion for the quarter, compared to analyst estimates of $5.57 billion. During the same quarter last year, the company posted $7.69 earnings per share. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. As a group, analysts expect that Parker-Hannifin Corporation will post 35.56 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 11th. Investors of record on Monday, August 31st were paid a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Monday, August 31st. Parker-Hannifin’s dividend payout ratio (DPR) is currently 28.08%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PH. Argus boosted their target price on Parker-Hannifin from $1,030.00 to $1,200.00 and gave the stock a “buy” rating in a research note on Monday, August 10th. KeyCorp upped their price target on Parker-Hannifin from $1,100.00 to $1,210.00 and gave the company an “overweight” rating in a report on Friday, August 7th. UBS Group set a $950.00 price target on shares of Parker-Hannifin in a research note on Wednesday. Wall Street Zen cut shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a report on Saturday, August 22nd. Finally, BMO Capital Markets reissued an “outperform” rating and set a $1,214.00 price objective (up from $1,068.00) on shares of Parker-Hannifin in a report on Friday, August 7th. Eighteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $1,149.52.

Insider Transactions at Parker-Hannifin

In other Parker-Hannifin news, VP Berend Bracht sold 602 shares of Parker-Hannifin stock in a transaction that occurred on 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 transaction, the vice president owned 4,399 shares of the company’s stock, valued at $4,577,027.53. The trade was a 12.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.35% of the stock is owned by corporate insiders.

About Parker-Hannifin

Parker-Hannifin Corporation is a diversified manufacturer of motion and control technologies. The company develops and produces components and systems that manage the movement and control of liquids, gases and mechanical force across industrial, mobile and aerospace applications.

Its product portfolio includes hydraulic and pneumatic systems, electromechanical technologies, filtration and fluid-management equipment, seals and shielding products, connectors, pumps, valves, sensors, thermal-management solutions and related engineered systems.