Parker-Hannifin Corporation $PH Stake Lowered by Vontobel Holding Ltd.

Vontobel Holding Ltd. lowered its holdings in Parker-Hannifin Corporation (NYSE:PH) by 38.4% in the third quarter, HoldingsChannel reports. The firm owned 8,097 shares of the industrial products company’s stock after selling 5,058 shares during the period. Vontobel Holding Ltd.’s holdings in Parker-Hannifin were worth $7,736,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PH. BlackRock Inc. purchased a new stake in Parker-Hannifin during the 2nd quarter worth approximately $10,163,362,000. State Street Corp raised its position in shares of Parker-Hannifin by 0.5% in the 2nd quarter. State Street Corp now owns 9,385,389 shares of the industrial products company’s stock valued at $9,180,037,000 after purchasing an additional 42,548 shares in the last quarter. Bank of America Corp DE acquired a new position in shares of Parker-Hannifin in the 2nd quarter valued at approximately $3,273,507,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Parker-Hannifin by 2.5% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,032,942 shares of the industrial products company’s stock valued at $1,010,341,000 after purchasing an additional 25,167 shares in the last quarter. Finally, Deutsche Bank AG purchased a new position in shares of Parker-Hannifin during the 2nd quarter valued at approximately $987,587,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Insiders Place Their Bets

In other Parker-Hannifin news, VP Berend Bracht sold 602 shares of the stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $1,040.47, for a total transaction of $626,362.94. Following the sale, the vice president directly owned 4,399 shares of the company’s stock, valued at approximately $4,577,027.53. This represents a 12.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.35% of the stock is currently owned by insiders.

Parker-Hannifin Price Performance

Shares of NYSE PH opened at $963.35 on Friday. Parker-Hannifin Corporation has a twelve month low of $722.12 and a twelve 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 market capitalization of $121.49 billion, a price-to-earnings ratio of 33.81, a price-to-earnings-growth ratio of 2.69 and a beta of 1.12. The business has a 50 day simple moving average of $980.15 and a 200-day simple moving average of $949.99.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings results on Thursday, August 6th. The industrial products company reported $9.27 earnings per share (EPS) for the quarter, beating 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 business had revenue of $5.75 billion for the quarter, compared to analyst estimates of $5.57 billion. During the same period in the prior year, the company posted $7.69 EPS. The business’s 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, equities research analysts expect that Parker-Hannifin Corporation will post 35.60 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 11th. Shareholders of record on Monday, August 31st were paid a dividend of $2.00 per share. The ex-dividend date was Monday, August 31st. This represents a $8.00 annualized dividend and a yield of 0.8%. Parker-Hannifin’s payout ratio is presently 28.08%.

Analyst Ratings Changes

PH has been the subject of a number of recent analyst reports. Sanford C. Bernstein raised their price target on shares of Parker-Hannifin from $1,037.00 to $1,218.00 and gave the stock an “outperform” rating in a research report on Friday, August 14th. UBS Group set a $950.00 price target on shares of Parker-Hannifin in a research note on Wednesday. Jefferies Financial Group upped their price target on shares of Parker-Hannifin from $1,100.00 to $1,275.00 in a report on Friday, August 7th. Argus upped their price target on shares of Parker-Hannifin from $1,030.00 to $1,200.00 and gave the company a “buy” rating in a report on Monday, August 10th. Finally, Citigroup increased their price objective on shares of Parker-Hannifin from $1,232.00 to $1,234.00 and gave the company a “buy” rating in a research note on Monday, October 12th. Eighteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $1,149.52.

Parker-Hannifin Company Profile

Parker-Hannifin Corporation is a diversified manufacturer of motion and control technologies and systems. The company serves aerospace, industrial, and other specialized markets with products designed to control the movement and flow of liquids and gases, as well as mechanical motion and power.

Its product portfolio includes hydraulic and pneumatic systems, filtration and process-control equipment, electromechanical technologies, sealing and shielding products, connectors, pumps, valves, and related components.