The Manufacturers Life Insurance Company Sells 4,025 Shares of Parker-Hannifin Corporation $PH

The Manufacturers Life Insurance Company lessened its stake in Parker-Hannifin Corporation (NYSE:PH) by 4.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 83,214 shares of the industrial products company’s stock after selling 4,025 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.07% of Parker-Hannifin worth $81,393,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Archer Investment Corp purchased a new position in shares of Parker-Hannifin during the second quarter worth approximately $28,000. HFM Investment Advisors LLC increased its position in shares of Parker-Hannifin by 1,000.0% in the fourth quarter. HFM Investment Advisors LLC now owns 33 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 30 shares during the period. Texas Capital Bancshares Inc TX bought a new position in shares of Parker-Hannifin during the third quarter valued at about $25,000. Lloyd Advisory Services LLC. purchased a new stake in shares of Parker-Hannifin during the fourth quarter worth about $31,000. Finally, NFSG Corp grew its stake in shares of Parker-Hannifin by 94.4% in the first quarter. NFSG Corp now owns 35 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 17 shares during the last quarter. 82.44% of the stock is currently owned by institutional investors.

Insider Activity

In other news, VP Berend Bracht sold 602 shares of the company’s stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $1,040.47, for a total value of $626,362.94. Following the completion of the sale, the vice president directly owned 4,399 shares in the company, valued at $4,577,027.53. This represents a 12.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.32% of the stock is currently owned by insiders.

Parker-Hannifin Stock Performance

PH stock opened at $950.36 on Friday. The stock has a market capitalization of $119.79 billion, a PE ratio of 33.36, a price-to-earnings-growth ratio of 2.54 and a beta of 1.13. The company has a current ratio of 1.26, a quick ratio of 0.74 and a debt-to-equity ratio of 0.44. Parker-Hannifin Corporation has a 12-month low of $715.37 and a 12-month high of $1,099.94. The stock’s 50 day simple moving average is $989.63 and its 200 day simple moving average is $947.48.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings data on Thursday, August 6th. The industrial products company reported $9.27 earnings per share for the quarter, beating analysts’ consensus estimates of $8.31 by $0.96. Parker-Hannifin had a net margin of 16.97% and a return on equity of 28.48%. The company had revenue of $5.75 billion for the quarter, compared to the consensus estimate of $5.57 billion. During the same quarter in the prior year, the firm earned $7.69 earnings per share. The firm’s revenue for the quarter 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, research analysts forecast that Parker-Hannifin Corporation will post 35 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PH. BNP Paribas Exane restated an “outperform” rating and set a $1,220.00 price target (up from $1,090.00) on shares of Parker-Hannifin in a report on Friday, August 7th. Sanford C. Bernstein lifted their price objective on 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. Stifel Nicolaus set a $1,075.00 target price on Parker-Hannifin in a research note on Friday, August 7th. BMO Capital Markets reissued an “outperform” rating and set a $1,214.00 price objective on shares of Parker-Hannifin in a research report on Friday, August 7th. Finally, Wall Street Zen lowered Parker-Hannifin from a “buy” rating to a “hold” rating in a research report on Saturday, August 22nd. Seventeen investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $1,114.55.

About Parker-Hannifin

Parker-Hannifin Corporation (NYSE:PH) is a diversified manufacturer of motion and control technologies. The company develops and produces systems and components that manage the movement and flow of liquids, gases and other materials for industrial, mobile and aerospace applications.

Its products include hydraulic and pneumatic systems, fluid connectors, filtration and process-control equipment, electromechanical technologies, seals, thermal-management solutions and aerospace systems. Parker-Hannifin serves manufacturers and operators in markets such as factory automation, transportation, energy, construction, life sciences and aviation.

Founded in 1917, Parker-Hannifin is headquartered in Cleveland, Ohio, and serves customers through manufacturing, distribution and sales operations across North America, Europe, Asia and other international markets.