Ballentine Partners LLC Sells 72 Shares of Parker-Hannifin Corporation $PH

Ballentine Partners LLC lowered its holdings in shares of Parker-Hannifin Corporation (NYSE:PH) by 4.3% during the second quarter, Holdings Channel reports. The institutional investor owned 1,585 shares of the industrial products company’s stock after selling 72 shares during the quarter. Ballentine Partners LLC’s holdings in Parker-Hannifin were worth $1,107,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the business. BCS Wealth Management increased its stake in Parker-Hannifin by 7.3% in the second quarter. BCS Wealth Management now owns 2,253 shares of the industrial products company’s stock valued at $1,574,000 after acquiring an additional 154 shares during the period. Accurate Wealth Management LLC lifted its stake in Parker-Hannifin by 4.5% during the second quarter. Accurate Wealth Management LLC now owns 1,755 shares of the industrial products company’s stock worth $1,253,000 after purchasing an additional 75 shares during the period. Covea Finance boosted its holdings in Parker-Hannifin by 3.4% during the second quarter. Covea Finance now owns 33,367 shares of the industrial products company’s stock valued at $23,306,000 after purchasing an additional 1,100 shares in the last quarter. McGlone Suttner Wealth Management Inc. grew its stake in shares of Parker-Hannifin by 6.7% in the 2nd quarter. McGlone Suttner Wealth Management Inc. now owns 1,575 shares of the industrial products company’s stock valued at $1,100,000 after purchasing an additional 99 shares during the period. Finally, GAMMA Investing LLC raised its holdings in shares of Parker-Hannifin by 3.4% in the 2nd quarter. GAMMA Investing LLC now owns 2,952 shares of the industrial products company’s stock worth $2,062,000 after buying an additional 97 shares in the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on PH. KeyCorp boosted their price target on Parker-Hannifin from $790.00 to $810.00 and gave the company an “overweight” rating in a research note on Friday, August 8th. Citigroup reaffirmed a “buy” rating and issued a $831.00 target price (up previously from $709.00) on shares of Parker-Hannifin in a report on Monday, July 14th. Wall Street Zen raised shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Saturday, September 20th. Cowen reiterated a “hold” rating on shares of Parker-Hannifin in a research note on Friday, August 29th. Finally, Raymond James Financial boosted their target price on Parker-Hannifin from $735.00 to $845.00 and gave the stock an “outperform” rating in a report on Friday, August 8th. Thirteen research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, Parker-Hannifin presently has a consensus rating of “Moderate Buy” and an average price target of $770.94.

Insider Activity

In other Parker-Hannifin news, VP Angela R. Ives sold 810 shares of the company’s stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $727.36, for a total transaction of $589,161.60. Following the transaction, the vice president directly owned 2,798 shares in the company, valued at approximately $2,035,153.28. This represents a 22.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Joseph R. Leonti sold 4,625 shares of the firm’s stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $750.84, for a total transaction of $3,472,635.00. Following the completion of the transaction, the executive vice president directly owned 13,878 shares in the company, valued at $10,420,157.52. This trade represents a 25.00% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 14,039 shares of company stock worth $10,356,566. Corporate insiders own 0.39% of the company’s stock.

Parker-Hannifin Price Performance

PH opened at $745.81 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.19 and a quick ratio of 0.71. The stock has a market capitalization of $94.37 billion, a P/E ratio of 27.50, a price-to-earnings-growth ratio of 3.10 and a beta of 1.35. The company’s 50 day simple moving average is $743.73 and its 200-day simple moving average is $675.30. Parker-Hannifin Corporation has a one year low of $488.45 and a one year high of $779.77.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, August 7th. The industrial products company reported $7.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.08 by $0.61. The firm had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.10 billion. Parker-Hannifin had a return on equity of 26.80% and a net margin of 17.79%.The business’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $6.77 EPS. Parker-Hannifin has set its FY 2026 guidance at 28.400-29.400 EPS. Sell-side analysts anticipate that Parker-Hannifin Corporation will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Tuesday, September 2nd were given a $1.80 dividend. This represents a $7.20 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date was Tuesday, September 2nd. Parker-Hannifin’s dividend payout ratio (DPR) is presently 26.55%.

Parker-Hannifin Profile

Parker-Hannifin Corporation manufactures and sells motion and control technologies and systems for various mobile, industrial, and aerospace markets worldwide. The company operates through two segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial segment offers sealing, shielding, thermal products and systems, adhesives, coatings, and noise vibration and harshness solutions; filters, systems, and diagnostics solutions to ensure purity and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors used in fluid and gas handling; and hydraulic, pneumatic, and electromechanical components and systems for builders and users of mobile and industrial machinery and equipment.