Parker-Hannifin Corporation $PH Position Reduced by Ritholtz Wealth Management

Ritholtz Wealth Management trimmed its stake in Parker-Hannifin Corporation (NYSE:PH) by 5.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,911 shares of the industrial products company’s stock after selling 116 shares during the quarter. Ritholtz Wealth Management’s holdings in Parker-Hannifin were worth $1,335,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in the stock. Sagespring Wealth Partners LLC lifted its position in shares of Parker-Hannifin by 11.0% in the second quarter. Sagespring Wealth Partners LLC now owns 2,025 shares of the industrial products company’s stock worth $1,414,000 after purchasing an additional 200 shares in the last quarter. RFG Advisory LLC lifted its position in shares of Parker-Hannifin by 0.6% in the second quarter. RFG Advisory LLC now owns 3,691 shares of the industrial products company’s stock worth $2,578,000 after purchasing an additional 22 shares in the last quarter. Axxcess Wealth Management LLC lifted its position in shares of Parker-Hannifin by 41.4% in the second quarter. Axxcess Wealth Management LLC now owns 1,157 shares of the industrial products company’s stock worth $808,000 after purchasing an additional 339 shares in the last quarter. Cornerstone Wealth Group LLC purchased a new stake in shares of Parker-Hannifin in the second quarter worth approximately $344,000. Finally, Verdence Capital Advisors LLC purchased a new stake in shares of Parker-Hannifin in the second quarter worth approximately $203,000. 82.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on PH. KeyCorp increased their price target on shares of Parker-Hannifin from $810.00 to $825.00 and gave the stock an “overweight” rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft downgraded Parker-Hannifin from a “buy” rating to a “hold” rating and set a $809.00 price objective on the stock. in a report on Thursday, September 4th. Wells Fargo & Company increased their price objective on Parker-Hannifin from $800.00 to $840.00 and gave the stock an “overweight” rating in a report on Monday, October 6th. Susquehanna initiated coverage on Parker-Hannifin in a report on Friday, August 15th. They issued a “positive” rating and a $860.00 price objective on the stock. Finally, Evercore ISI restated an “outperform” rating on shares of Parker-Hannifin in a report on Tuesday, August 19th. Fourteen equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $789.83.

Insider Activity at Parker-Hannifin

In other news, EVP Joseph R. Leonti sold 4,625 shares of the stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $750.84, for a total value of $3,472,635.00. Following the completion of the sale, the executive vice president directly owned 13,878 shares of the company’s stock, valued at approximately $10,420,157.52. This represents a 25.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Angela R. Ives sold 810 shares of the stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $727.36, for a total value of $589,161.60. Following the completion of the sale, the vice president directly owned 2,798 shares of the company’s stock, valued at $2,035,153.28. This represents a 22.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 14,039 shares of company stock valued at $10,356,566. 0.32% of the stock is owned by company insiders.

Parker-Hannifin Trading Up 1.1%

Shares of PH stock opened at $734.26 on Friday. Parker-Hannifin Corporation has a 12 month low of $488.45 and a 12 month high of $779.77. The company has a quick ratio of 0.71, a current ratio of 1.19 and a debt-to-equity ratio of 0.55. The business’s 50 day moving average is $750.51 and its two-hundred day moving average is $689.14. The company has a market cap of $92.91 billion, a PE ratio of 27.07, a price-to-earnings-growth ratio of 3.00 and a beta of 1.35.

Parker-Hannifin (NYSE:PH) last announced 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. Parker-Hannifin had a return on equity of 26.80% and a net margin of 17.79%.The company had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.10 billion. During the same quarter last year, the company posted $6.77 earnings per share. The company’s revenue for the quarter was up 1.1% compared to the same quarter last year. Parker-Hannifin has set its FY 2026 guidance at 28.400-29.400 EPS. Equities analysts predict that Parker-Hannifin Corporation will post 26.71 EPS for the current year.

Parker-Hannifin Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Tuesday, September 2nd were issued a dividend of $1.80 per share. This represents a $7.20 annualized dividend and a yield of 1.0%. The ex-dividend date was Tuesday, September 2nd. Parker-Hannifin’s dividend payout ratio (DPR) is 26.55%.

About Parker-Hannifin

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.