Parker-Hannifin Corporation $PH Stock: King Luther Capital Management Corp Cuts Holdings

King Luther Capital Management Corp lessened its holdings in Parker-Hannifin Corporation (NYSE:PH) by 2.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 119,411 shares of the industrial products company’s stock after selling 2,804 shares during the quarter. King Luther Capital Management Corp owned approximately 0.09% of Parker-Hannifin worth $114,088,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of PH. Banyan Capital Management Inc. bought a new position in Parker-Hannifin in the third quarter valued at approximately $12,153,000. Maryland State Retirement & Pension System grew its holdings in Parker-Hannifin by 14.1% during the 3rd quarter. Maryland State Retirement & Pension System now owns 7,727 shares of the industrial products company’s stock worth $7,383,000 after acquiring an additional 956 shares during the period. Ritholtz Wealth Management grew its holdings in Parker-Hannifin by 6.8% during the 3rd quarter. Ritholtz Wealth Management now owns 3,705 shares of the industrial products company’s stock worth $3,540,000 after acquiring an additional 236 shares during the period. UNIVEST FINANCIAL Corp grew its holdings in Parker-Hannifin by 100.1% during the 3rd quarter. UNIVEST FINANCIAL Corp now owns 12,726 shares of the industrial products company’s stock worth $12,159,000 after acquiring an additional 6,367 shares during the period. Finally, Granville Capital Inc. raised its position in shares of Parker-Hannifin by 6.9% during the 3rd quarter. Granville Capital Inc. now owns 402 shares of the industrial products company’s stock valued at $384,000 after acquiring an additional 26 shares during the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Insider Buying and Selling

In related news, VP Berend Bracht sold 602 shares of the firm’s stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $1,040.47, for a total transaction of $626,362.94. Following the sale, the vice president owned 4,399 shares of the company’s stock, valued at approximately $4,577,027.53. This trade represents a 12.04% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.35% of the company’s stock.

Parker-Hannifin Stock Up 0.8%

Shares of NYSE PH opened at $972.53 on Thursday. Parker-Hannifin Corporation has a 52-week low of $806.22 and a 52-week high of $1,099.94. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.55 and a current ratio of 0.94. The stock has a market cap of $122.64 billion, a P/E ratio of 33.40, a P/E/G ratio of 2.28 and a beta of 1.15. The firm has a 50 day moving average price of $945.68 and a 200 day moving average price of $949.65.

Parker-Hannifin (NYSE:PH) last posted its earnings results on Thursday, November 5th. The industrial products company reported $8.90 earnings per share for the quarter, topping the consensus estimate of $8.21 by $0.69. The company had revenue of $5.99 billion for the quarter, compared to analyst estimates of $5.81 billion. Parker-Hannifin had a net margin of 16.62% and a return on equity of 28.80%. The business’s revenue for the quarter was up 17.9% compared to the same quarter last year. During the same period last year, the business posted $7.22 earnings per share. Parker-Hannifin has set its FY 2027 guidance at 36.450-37.250 EPS. Analysts expect that Parker-Hannifin Corporation will post 37.07 EPS for the current year.

Parker-Hannifin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 4th. Investors of record on Friday, November 13th will be given a $2.00 dividend. The ex-dividend date is Friday, November 13th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.8%. Parker-Hannifin’s dividend payout ratio is currently 27.47%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on PH shares. The Goldman Sachs Group increased their price target on Parker-Hannifin from $1,071.00 to $1,165.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Raymond James Financial lifted their price objective on Parker-Hannifin from $1,050.00 to $1,250.00 and gave the stock an “outperform” rating in a research note on Monday, August 10th. TD Cowen upped their price objective on Parker-Hannifin from $850.00 to $950.00 and gave the company a “hold” rating in a report on Wednesday, October 14th. Truist Financial increased their target price on Parker-Hannifin from $1,269.00 to $1,358.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Finally, UBS Group set a $950.00 target price on Parker-Hannifin in a report on Wednesday, October 14th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $1,146.35.

Parker-Hannifin Profile

Parker-Hannifin is a global manufacturer of motion and control technologies. Its products include hydraulic and pneumatic systems, fluid connectors, filtration and sealing products, electromechanical components, and systems for aerospace and climate control applications. The company serves customers across industries such as aerospace, manufacturing, transportation, energy, and life sciences. Its operations span markets around the world, with businesses organized around industrial and aerospace products and services.