D.A. Davidson & CO. Lowers Position in Parker-Hannifin Corporation $PH

D.A. Davidson & CO. decreased its position in Parker-Hannifin Corporation (NYSE:PH) by 6.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,736 shares of the industrial products company’s stock after selling 257 shares during the period. D.A. Davidson & CO.’s holdings in Parker-Hannifin were worth $2,610,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Wealth Preservation Advisors LLC purchased a new stake in Parker-Hannifin during the first quarter worth about $27,000. Saudi Central Bank purchased a new stake in Parker-Hannifin during the first quarter worth about $31,000. Interchange Capital Partners LLC purchased a new stake in Parker-Hannifin during the second quarter worth about $31,000. Olde Wealth Management LLC purchased a new stake in Parker-Hannifin during the first quarter worth about $35,000. Finally, Chilton Capital Management LLC boosted its holdings in Parker-Hannifin by 1,500.0% during the first quarter. Chilton Capital Management LLC now owns 64 shares of the industrial products company’s stock worth $39,000 after buying an additional 60 shares in the last quarter. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Insider Activity at Parker-Hannifin

In other Parker-Hannifin news, COO Andrew D. Ross sold 4,361 shares of the stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $732.66, for a total transaction of $3,195,130.26. Following the transaction, the chief operating officer owned 13,120 shares of the company’s stock, valued at $9,612,499.20. This trade represents a 24.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Angela R. Ives sold 810 shares of the stock in a transaction that occurred on Friday, August 8th. The stock was 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 disclosure for this sale can be found here. Insiders have sold a total of 14,039 shares of company stock valued at $10,356,566 over the last 90 days. 0.32% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Morgan Stanley boosted their price objective on shares of Parker-Hannifin from $700.00 to $725.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 9th. Wall Street Zen upgraded shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Saturday, September 20th. Evercore ISI restated an “outperform” rating on shares of Parker-Hannifin in a research report on Tuesday, August 19th. Truist Financial lifted their target price on shares of Parker-Hannifin from $822.00 to $910.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Finally, KeyCorp lifted their target price on shares of Parker-Hannifin from $810.00 to $825.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 14th. Fourteen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, Parker-Hannifin currently has a consensus rating of “Moderate Buy” and a consensus price target of $789.67.

Parker-Hannifin Stock Performance

Shares of PH opened at $772.86 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.71 and a current ratio of 1.19. The company has a market capitalization of $97.80 billion, a price-to-earnings ratio of 28.50, a PEG ratio of 3.19 and a beta of 1.35. The company’s 50 day simple moving average is $751.64 and its 200 day simple moving average is $697.37. Parker-Hannifin Corporation has a 1 year low of $488.45 and a 1 year high of $779.77.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, August 7th. The industrial products company reported $7.69 earnings per share (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 the consensus estimate 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% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $6.77 earnings per share. Parker-Hannifin has set its FY 2026 guidance at 28.400-29.400 EPS. On average, sell-side 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 will be paid on Friday, December 5th. Shareholders of record on Friday, November 7th will be paid a dividend of $1.80 per share. The ex-dividend date of this dividend is Friday, November 7th. This represents a $7.20 dividend on an annualized basis and a yield of 0.9%. Parker-Hannifin’s dividend payout ratio (DPR) is currently 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.