Ferguson Wellman Capital Management Inc. Cuts Holdings in Parker-Hannifin Corporation $PH

Ferguson Wellman Capital Management Inc. lowered its stake in Parker-Hannifin Corporation (NYSE:PH) by 5.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 111,839 shares of the industrial products company’s stock after selling 6,656 shares during the quarter. Parker-Hannifin makes up approximately 1.3% of Ferguson Wellman Capital Management Inc.’s investment portfolio, making the stock its 18th largest position. Ferguson Wellman Capital Management Inc.’s holdings in Parker-Hannifin were worth $106,853,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. Eastern Bank increased its stake in Parker-Hannifin by 0.4% in the third quarter. Eastern Bank now owns 40,624 shares of the industrial products company’s stock valued at $38,813,000 after acquiring an additional 153 shares during the last quarter. Rockland Trust Co. grew its holdings in Parker-Hannifin by 18.5% in the third quarter. Rockland Trust Co. now owns 263 shares of the industrial products company’s stock worth $251,000 after purchasing an additional 41 shares during the period. Polaris Financial Partners bought a new stake in Parker-Hannifin in the 3rd quarter valued at about $26,000. CX Institutional increased its holdings in shares of Parker-Hannifin by 159.9% during the third quarter. CX Institutional now owns 11,886 shares of the industrial products company’s stock valued at $11,356,000 after acquiring an additional 7,312 shares in the last quarter. Finally, Private Client Services LLC increased its stake in Parker-Hannifin by 12.5% during the 3rd quarter. Private Client Services LLC now owns 314 shares of the industrial products company’s stock valued at $300,000 after purchasing an additional 35 shares in the last quarter. Institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Trading Up 0.7%

Parker-Hannifin stock traded up $6.65 during mid-day trading on Monday, reaching $979.20. 114,408 shares of the company traded hands, compared to its average volume of 693,152. The firm’s 50 day moving average price is $987.98 and its 200 day moving average price is $946.28. Parker-Hannifin Corporation has a 52-week low of $715.37 and a 52-week high of $1,099.94. 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 firm has a market capitalization of $123.49 billion, a price-to-earnings ratio of 34.37, a P/E/G ratio of 2.98 and a beta of 1.12.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings results on Thursday, August 6th. The industrial products company reported $9.27 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 16.97% and a return on equity of 28.48%. Parker-Hannifin’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $7.69 earnings per share. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. On average, analysts anticipate that Parker-Hannifin Corporation will post 35.02 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

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

Insider Buying and Selling

In other Parker-Hannifin news, VP Berend Bracht sold 602 shares of the firm’s stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $1,040.47, for a total transaction of $626,362.94. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.35% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on PH shares. Susquehanna increased their price objective on Parker-Hannifin from $1,100.00 to $1,250.00 and gave the stock a “positive” rating in a research note on Friday, August 7th. UBS Group raised their price target on shares of 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. Weiss Ratings restated a “buy (b)” rating on shares of Parker-Hannifin in a research note on Friday, July 17th. Wells Fargo & Company started coverage on Parker-Hannifin in a research report on Thursday, September 24th. They set an “equal weight” rating and a $1,050.00 target price on the stock. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $1,214.00 price target on shares of Parker-Hannifin in a report on Friday, August 7th. Sixteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $1,119.55.

About Parker-Hannifin

Parker-Hannifin Corporation is a diversified manufacturer of motion and control technologies. The company develops and produces components and systems that manage the movement and control of liquids, gases and mechanical force across industrial, mobile and aerospace applications.

Its product portfolio includes hydraulic and pneumatic systems, electromechanical technologies, filtration and fluid-management equipment, seals and shielding products, connectors, pumps, valves, sensors, thermal-management solutions and related engineered systems.