4,870 Parker-Hannifin Corporation $PH Shares Sold by Keybank National Association OH

Keybank National Association OH reduced its holdings in shares of Parker-Hannifin Corporation (NYSE:PH) by 1.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 366,033 shares of the industrial products company’s stock after selling 4,870 shares during the quarter. Parker-Hannifin accounts for 1.1% of Keybank National Association OH’s portfolio, making the stock its 19th biggest holding. Keybank National Association OH’s holdings in Parker-Hannifin were worth $349,715,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. New York Life Investment Management LLC raised its holdings in shares of Parker-Hannifin by 7.1% during the third quarter. New York Life Investment Management LLC now owns 18,789 shares of the industrial products company’s stock valued at $17,951,000 after purchasing an additional 1,244 shares during the last quarter. 71 West Capital Partners lifted its position in Parker-Hannifin by 14.2% during the third quarter. 71 West Capital Partners now owns 1,369 shares of the industrial products company’s stock valued at $1,308,000 after purchasing an additional 170 shares during the period. AlphaCore Capital LLC boosted its holdings in Parker-Hannifin by 27.6% in the third quarter. AlphaCore Capital LLC now owns 4,364 shares of the industrial products company’s stock worth $4,169,000 after purchasing an additional 945 shares during the last quarter. Retirement Systems of Alabama boosted its holdings in Parker-Hannifin by 7.6% in the third quarter. Retirement Systems of Alabama now owns 87,361 shares of the industrial products company’s stock worth $83,466,000 after purchasing an additional 6,151 shares during the last quarter. Finally, Joseph Group Capital Management boosted its holdings in Parker-Hannifin by 2.7% in the third quarter. Joseph Group Capital Management now owns 8,592 shares of the industrial products company’s stock worth $8,209,000 after purchasing an additional 223 shares during the last quarter. 82.44% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Parker-Hannifin

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

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Jefferies Financial Group lifted their target price on shares of Parker-Hannifin from $1,100.00 to $1,275.00 in a research report on Friday, August 7th. Sanford C. Bernstein reissued an “outperform” rating on shares of Parker-Hannifin in a report on Monday. Stifel Nicolaus set a $1,002.00 price target on Parker-Hannifin in a research note on Monday, October 19th. Evercore lifted their price objective on Parker-Hannifin from $1,064.00 to $1,217.00 and gave the stock an “outperform” rating in a report on Tuesday, August 11th. Finally, BNP Paribas Exane lifted their price objective on Parker-Hannifin from $1,220.00 to $1,270.00 and gave the stock an “outperform” rating in a report on Friday, September 18th. Eighteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $1,146.35.

Parker-Hannifin Price Performance

NYSE PH opened at $964.17 on Wednesday. The company has a 50-day moving average price of $945.24 and a 200-day moving average price of $949.42. Parker-Hannifin Corporation has a 52 week low of $806.22 and a 52 week high of $1,099.94. The company has a quick ratio of 0.55, a current ratio of 0.94 and a debt-to-equity ratio of 0.79. The firm has a market capitalization of $121.59 billion, a P/E ratio of 33.11, a PEG ratio of 2.26 and a beta of 1.15.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, November 5th. The industrial products company reported $8.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.21 by $0.69. The company had revenue of $5.99 billion for the quarter, compared to the consensus estimate of $5.81 billion. Parker-Hannifin had a net margin of 16.62% and a return on equity of 28.80%. The firm’s revenue was up 17.9% compared to the same quarter last year. During the same quarter last year, the firm posted $7.22 earnings per share. Parker-Hannifin has set its FY 2027 guidance at 36.450-37.250 EPS. Equities research analysts anticipate that Parker-Hannifin Corporation will post 37.04 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 4th. Stockholders of record on Friday, November 13th will be paid 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 is Friday, November 13th. Parker-Hannifin’s dividend payout ratio (DPR) is currently 27.47%.

About Parker-Hannifin

Parker-Hannifin is a global manufacturer of motion and control technologies. Its products include hydraulic and pneumatic systems, fluid connectors, filtration and sealing products, electromechanical components, and systems for aerospace and climate control applications. The company serves customers across industries such as aerospace, manufacturing, transportation, energy, and life sciences. Its operations span markets around the world, with businesses organized around industrial and aerospace products and services.