Parker-Hannifin Corporation $PH Shares Sold by HighTower Advisors LLC

HighTower Advisors LLC decreased its stake in shares of Parker-Hannifin Corporation (NYSE:PH) by 3.7% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 67,132 shares of the industrial products company’s stock after selling 2,584 shares during the period. HighTower Advisors LLC’s holdings in Parker-Hannifin were worth $65,663,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in PH. E Fund Management Co. Ltd. lifted its holdings in Parker-Hannifin by 2.1% in the 2nd quarter. E Fund Management Co. Ltd. now owns 477 shares of the industrial products company’s stock valued at $467,000 after acquiring an additional 10 shares during the last quarter. Moneta Group Investment Advisors LLC grew its stake in shares of Parker-Hannifin by 1.8% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 614 shares of the industrial products company’s stock worth $540,000 after purchasing an additional 11 shares during the last quarter. Inspire Advisors LLC grew its stake in shares of Parker-Hannifin by 1.2% in the 4th quarter. Inspire Advisors LLC now owns 917 shares of the industrial products company’s stock worth $807,000 after purchasing an additional 11 shares during the last quarter. Optas LLC raised its holdings in shares of Parker-Hannifin by 3.1% in the 1st quarter. Optas LLC now owns 370 shares of the industrial products company’s stock worth $331,000 after purchasing an additional 11 shares in the last quarter. Finally, StoneX Group Inc. lifted its stake in Parker-Hannifin by 0.5% during the fourth quarter. StoneX Group Inc. now owns 2,583 shares of the industrial products company’s stock valued at $2,271,000 after purchasing an additional 12 shares during the last quarter. 82.44% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other 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 value of $626,362.94. Following the completion of the sale, the vice president owned 4,399 shares of the company’s stock, valued at $4,577,027.53. This trade represents a 12.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.32% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on PH shares. Truist Financial raised their target price on shares of Parker-Hannifin from $1,269.00 to $1,358.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Stifel Nicolaus set a $1,075.00 price objective on Parker-Hannifin in a research report on Friday, August 7th. BMO Capital Markets reissued an “outperform” rating and set a $1,214.00 price objective on shares of Parker-Hannifin in a research note on Friday, August 7th. Weiss Ratings restated a “buy (b)” rating on shares of Parker-Hannifin in a report on Friday, July 17th. Finally, Wall Street Zen lowered Parker-Hannifin from a “buy” rating to a “hold” rating in a research report on Saturday, August 22nd. Seventeen investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $1,114.55.

Parker-Hannifin Stock Performance

Parker-Hannifin stock opened at $962.40 on Tuesday. Parker-Hannifin Corporation has a fifty-two week low of $715.37 and a fifty-two week high of $1,099.94. The firm’s 50 day simple moving average is $991.19 and its 200-day simple moving average is $948.80. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.26 and a quick ratio of 0.74. The company has a market cap of $121.31 billion, a P/E ratio of 33.78, a price-to-earnings-growth ratio of 2.62 and a beta of 1.13.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings results on Thursday, August 6th. The industrial products company reported $9.27 EPS for the quarter, beating 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 business had revenue of $5.75 billion during the quarter, compared to the consensus estimate of $5.57 billion. During the same quarter in the prior year, the firm earned $7.69 EPS. The firm’s quarterly revenue was up 9.8% on a year-over-year basis. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. As a group, equities research analysts predict that Parker-Hannifin Corporation will post 34.96 EPS for the current year.

Parker-Hannifin Announces Dividend

The company 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 dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Monday, August 31st. Parker-Hannifin’s payout ratio is 28.08%.

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.