Northwestern Mutual Wealth Management Co. Sells 3,865 Shares of Parker-Hannifin Corporation $PH

Northwestern Mutual Wealth Management Co. cut its position in Parker-Hannifin Corporation (NYSE:PH) by 4.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 77,289 shares of the industrial products company’s stock after selling 3,865 shares during the period. Northwestern Mutual Wealth Management Co. owned 0.06% of Parker-Hannifin worth $75,599,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PH. Fideuram Asset Management Ireland dac acquired a new position in shares of Parker-Hannifin during the fourth quarter valued at about $1,253,000. Truist Financial Corp increased its position in shares of Parker-Hannifin by 2.7% during the fourth quarter. Truist Financial Corp now owns 174,852 shares of the industrial products company’s stock worth $153,687,000 after acquiring an additional 4,673 shares in the last quarter. Shepherd Street Advisors LLC acquired a new stake in shares of Parker-Hannifin in the 4th quarter worth about $1,736,000. Jefferies Financial Group Inc. bought a new position in Parker-Hannifin in the 4th quarter valued at about $11,434,000. Finally, Horizon Investments LLC lifted its position in Parker-Hannifin by 78.8% in the 4th quarter. Horizon Investments LLC now owns 8,829 shares of the industrial products company’s stock valued at $7,760,000 after acquiring an additional 3,892 shares in the last quarter. 82.44% of the stock is owned by institutional investors.

Parker-Hannifin Stock Up 0.3%

Shares of NYSE:PH opened at $1,002.90 on Friday. Parker-Hannifin Corporation has a 1 year low of $715.37 and a 1 year high of $1,099.94. The company has a market capitalization of $126.46 billion, a PE ratio of 35.20, a price-to-earnings-growth ratio of 2.61 and a beta of 1.12. The business has a fifty day moving average price of $984.42 and a two-hundred day moving average price of $948.75. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.26 and a quick ratio of 0.74.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, August 6th. The industrial products company reported $9.27 EPS for the quarter, topping analysts’ consensus estimates of $8.31 by $0.96. The company had revenue of $5.75 billion for the quarter, compared to analysts’ expectations of $5.57 billion. Parker-Hannifin had a return on equity of 28.48% and a net margin of 16.97%.The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the previous year, the business posted $7.69 EPS. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. Analysts forecast that Parker-Hannifin Corporation will post 34.93 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Monday, August 31st will be given a $2.00 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $8.00 annualized dividend and a yield of 0.8%. Parker-Hannifin’s payout ratio is currently 28.08%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Wells Fargo & Company cut their price target on Parker-Hannifin from $980.00 to $950.00 and set an “overweight” rating for the company in a research note on Tuesday, May 26th. KeyCorp increased their price objective on Parker-Hannifin from $1,100.00 to $1,210.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. JPMorgan Chase & Co. dropped their target price on Parker-Hannifin from $1,100.00 to $1,060.00 and set an “overweight” rating on the stock in a report on Thursday, May 7th. Weiss Ratings reiterated a “buy (b)” rating on shares of Parker-Hannifin in a report on Friday, July 17th. Finally, UBS Group increased their price target on Parker-Hannifin from $1,092.00 to $1,250.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Seventeen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $1,100.00.

Parker-Hannifin Company Profile

Parker-Hannifin Corporation (NYSE: PH) is a global manufacturer and provider of motion and control technologies and systems. The company designs, manufactures and services a broad range of engineered components and systems used to control the movement and flow of liquids, gases and hydraulic power. Its product portfolio is applied across demanding environments and includes solutions for industrial manufacturing, aerospace, mobile equipment and other engineered applications.

Parker-Hannifin’s product and service offerings span hydraulic and pneumatic components, fittings and fluid connectors, valves, pumps and motors, electromechanical actuators and motion-control systems, filtration and separation products, and seals and sealing systems.