Claret Asset Management Corp Trims Position in Parker-Hannifin Corporation $PH

Claret Asset Management Corp trimmed its holdings in Parker-Hannifin Corporation (NYSE:PH) by 9.9% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 381 shares of the industrial products company’s stock after selling 42 shares during the period. Claret Asset Management Corp’s holdings in Parker-Hannifin were worth $266,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in PH. Norges Bank purchased a new position in Parker-Hannifin during the second quarter worth about $1,352,509,000. Nuveen LLC purchased a new position in Parker-Hannifin during the first quarter worth about $933,089,000. Price T Rowe Associates Inc. MD raised its holdings in Parker-Hannifin by 52.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,443,104 shares of the industrial products company’s stock worth $1,485,042,000 after purchasing an additional 842,262 shares in the last quarter. Wellington Management Group LLP raised its holdings in Parker-Hannifin by 11.6% during the first quarter. Wellington Management Group LLP now owns 2,009,250 shares of the industrial products company’s stock worth $1,221,323,000 after purchasing an additional 208,573 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in Parker-Hannifin by 23.8% during the first quarter. Goldman Sachs Group Inc. now owns 996,738 shares of the industrial products company’s stock worth $605,867,000 after purchasing an additional 191,799 shares in the last quarter. 82.44% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, VP Angela R. Ives sold 810 shares of the firm’s stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $727.36, for a total transaction of $589,161.60. Following the sale, the vice president owned 2,798 shares in the company, valued at approximately $2,035,153.28. This trade represents a 22.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Robert W. Malone sold 2,257 shares of the firm’s stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $730.66, for a total transaction of $1,649,099.62. Following the sale, the vice president owned 5,866 shares in the company, valued at approximately $4,286,051.56. This trade represents a 27.79% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,039 shares of company stock valued at $10,356,566. Corporate insiders own 0.32% of the company’s stock.

Wall Street Analysts Forecast Growth

PH has been the subject of several analyst reports. Raymond James Financial increased their price target on shares of Parker-Hannifin from $735.00 to $845.00 and gave the stock an “outperform” rating in a report on Friday, August 8th. Evercore ISI reissued an “outperform” rating on shares of Parker-Hannifin in a report on Tuesday, August 19th. Wells Fargo & Company upped their target price on shares of Parker-Hannifin from $770.00 to $800.00 and gave the stock an “overweight” rating in a research report on Friday, August 8th. Susquehanna assumed coverage on shares of Parker-Hannifin in a research report on Friday, August 15th. They set a “positive” rating and a $860.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Parker-Hannifin from a “buy” rating to a “hold” rating and set a $809.00 target price on the stock. in a research report on Thursday, September 4th. Fourteen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $771.44.

Parker-Hannifin Stock Up 0.7%

PH stock opened at $763.72 on Friday. The company’s 50 day simple moving average is $747.47 and its 200-day simple moving average is $681.70. The firm has a market capitalization of $96.64 billion, a PE ratio of 28.16, a P/E/G ratio of 3.16 and a beta of 1.35. Parker-Hannifin Corporation has a 12 month low of $488.45 and a 12 month high of $779.77. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.19 and a quick ratio of 0.71.

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

Parker-Hannifin Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Tuesday, September 2nd were given a $1.80 dividend. The ex-dividend date was Tuesday, September 2nd. This represents a $7.20 annualized dividend and a dividend yield of 0.9%. Parker-Hannifin’s dividend payout ratio is currently 26.55%.

Parker-Hannifin Company 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.