Wellington Management Group LLP Sells 597,631 Shares of Parker-Hannifin Corporation $PH

Wellington Management Group LLP lowered its position in shares of Parker-Hannifin Corporation (NYSE:PH) by 46.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 681,600 shares of the industrial products company’s stock after selling 597,631 shares during the quarter. Wellington Management Group LLP owned approximately 0.54% of Parker-Hannifin worth $666,687,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Texas Capital Bancshares Inc TX acquired a new stake in Parker-Hannifin in the third quarter worth about $25,000. Archer Investment Corp acquired a new position in Parker-Hannifin during the 2nd quarter valued at about $28,000. HFM Investment Advisors LLC boosted its stake in shares of Parker-Hannifin by 1,000.0% in the 4th quarter. HFM Investment Advisors LLC now owns 33 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 30 shares during the last quarter. Lloyd Advisory Services LLC. bought a new position in shares of Parker-Hannifin in the 4th quarter valued at about $31,000. Finally, NFSG Corp grew its position in shares of Parker-Hannifin by 94.4% during the 1st quarter. NFSG Corp now owns 35 shares of the industrial products company’s stock worth $31,000 after buying an additional 17 shares during the period. Institutional investors and hedge funds own 82.44% of the company’s stock.

Insider Transactions at Parker-Hannifin

In other Parker-Hannifin news, VP Berend Bracht sold 602 shares of the 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 completion of the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.32% of the company’s stock.

Parker-Hannifin Stock Down 1.6%

Shares of NYSE PH opened at $995.24 on Friday. The stock has a market cap of $125.45 billion, a P/E ratio of 34.93, a P/E/G ratio of 2.59 and a beta of 1.12. The firm has a 50 day moving average price of $991.71 and a 200 day moving average price of $950.48. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.74 and a current ratio of 1.26. Parker-Hannifin Corporation has a 52-week low of $715.37 and a 52-week high of $1,099.94.

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

Parker-Hannifin Announces Dividend

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

Analysts Set New Price Targets

PH has been the topic of several analyst reports. Truist Financial increased their price objective on shares of Parker-Hannifin from $1,269.00 to $1,358.00 and gave the company a “buy” rating in a report on Friday, August 7th. BMO Capital Markets reiterated an “outperform” rating and set a $1,214.00 target price on shares of Parker-Hannifin in a research report on Friday, August 7th. Sanford C. Bernstein increased their price target on Parker-Hannifin from $1,037.00 to $1,218.00 and gave the company an “outperform” rating in a research note on Friday, August 14th. Evercore set a $1,064.00 price target on Parker-Hannifin in a research report on Monday, May 11th. Finally, UBS Group lifted their price objective on Parker-Hannifin from $1,092.00 to $1,250.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Seventeen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $1,100.00.

Parker-Hannifin 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.