Fifth Third Bancorp Sells 5,163 Shares of Parker-Hannifin Corporation $PH

Fifth Third Bancorp lessened its stake in Parker-Hannifin Corporation (NYSE:PH) by 2.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 177,850 shares of the industrial products company’s stock after selling 5,163 shares during the quarter. Fifth Third Bancorp owned approximately 0.14% of Parker-Hannifin worth $169,921,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. E Fund Management Co. Ltd. increased its position in Parker-Hannifin by 2.1% in the second quarter. E Fund Management Co. Ltd. now owns 477 shares of the industrial products company’s stock worth $467,000 after buying an additional 10 shares during the last quarter. Allen Capital Group LLC lifted its position in shares of Parker-Hannifin by 4.8% during the 1st quarter. Allen Capital Group LLC now owns 264 shares of the industrial products company’s stock valued at $236,000 after buying an additional 12 shares during the last quarter. Doliver Advisors LP lifted its position in shares of Parker-Hannifin by 0.6% during the 2nd quarter. Doliver Advisors LP now owns 2,011 shares of the industrial products company’s stock valued at $1,967,000 after buying an additional 12 shares during the last quarter. Bullock Wealth Management Group lifted its position in shares of Parker-Hannifin by 1.6% during the 3rd quarter. Bullock Wealth Management Group now owns 754 shares of the industrial products company’s stock valued at $728,000 after buying an additional 12 shares during the last quarter. Finally, Wedbush Securities Inc. grew its stake in shares of Parker-Hannifin by 0.8% during the 3rd quarter. Wedbush Securities Inc. now owns 1,510 shares of the industrial products company’s stock worth $1,442,000 after acquiring an additional 12 shares during the period. Institutional investors own 82.44% of the company’s stock.

Insiders Place Their Bets

In other Parker-Hannifin news, VP Berend Bracht sold 602 shares of the company’s stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $1,040.47, for a total value of $626,362.94. Following the transaction, the vice president directly owned 4,399 shares in the company, valued at $4,577,027.53. This represents a 12.04% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.35% of the stock is owned by corporate insiders.

Parker-Hannifin Stock Performance

NYSE PH opened at $972.53 on Thursday. The company’s 50 day simple moving average is $945.68 and its two-hundred day simple moving average is $949.65. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.94 and a quick ratio of 0.55. Parker-Hannifin Corporation has a 1 year low of $806.22 and a 1 year high of $1,099.94. The stock has a market capitalization of $122.64 billion, a PE ratio of 33.40, a P/E/G ratio of 2.28 and a beta of 1.15.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings results on Thursday, November 5th. The industrial products company reported $8.90 EPS for the quarter, beating analysts’ consensus estimates of $8.21 by $0.69. The firm had revenue of $5.99 billion during 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% on a year-over-year basis. During the same period in the previous year, the business earned $7.22 EPS. Parker-Hannifin has set its FY 2027 guidance at 36.450-37.250 EPS. Analysts predict that Parker-Hannifin Corporation will post 37.07 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

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

Wall Street Analysts Forecast Growth

PH has been the topic of a number of research reports. Truist Financial boosted their price objective 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. Robert W. Baird upped their price objective on shares of Parker-Hannifin from $1,050.00 to $1,275.00 in a report on Friday, August 7th. Evercore increased their target price on shares of Parker-Hannifin from $1,064.00 to $1,217.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 11th. Jefferies Financial Group lifted their target price on shares of Parker-Hannifin from $1,100.00 to $1,275.00 in a research note on Friday, August 7th. Finally, UBS Group set a $950.00 price target on shares of Parker-Hannifin in a research report on Wednesday, October 14th. Eighteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, Parker-Hannifin presently has an average rating of “Moderate Buy” and a consensus target price of $1,146.35.

About Parker-Hannifin

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.