Parker-Hannifin Corporation $PH Stock: Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Decreases Position

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA cut its position in Parker-Hannifin Corporation (NYSE:PH) by 0.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 204,004 shares of the industrial products company’s stock after selling 894 shares during the period. Parker-Hannifin accounts for 1.9% of Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings, making the stock its 17th largest position. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA owned about 0.16% of Parker-Hannifin worth $194,910,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in PH. Holos Integrated Wealth LLC lifted its stake in Parker-Hannifin by 357.1% in the 3rd quarter. Holos Integrated Wealth LLC now owns 96 shares of the industrial products company’s stock worth $93,000 after purchasing an additional 75 shares in the last quarter. Tower View Wealth Management LLC boosted its holdings in shares of Parker-Hannifin by 31.2% during the 3rd quarter. Tower View Wealth Management LLC now owns 7,111 shares of the industrial products company’s stock worth $6,794,000 after purchasing an additional 1,692 shares during the last quarter. Sigma Planning Corp grew its position in shares of Parker-Hannifin by 162.7% in the third quarter. Sigma Planning Corp now owns 3,331 shares of the industrial products company’s stock valued at $3,180,000 after purchasing an additional 2,063 shares in the last quarter. IRON Financial LLC purchased a new stake in shares of Parker-Hannifin in the third quarter valued at approximately $254,000. Finally, Norris Perne & French LLP MI purchased a new stake in shares of Parker-Hannifin in the third quarter valued at approximately $530,000. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on PH. JPMorgan Chase & Co. reduced their price objective on Parker-Hannifin from $1,140.00 to $1,131.00 and set an “overweight” rating on the stock in a research report on Friday, October 9th. The Goldman Sachs Group boosted their price objective on Parker-Hannifin from $1,071.00 to $1,165.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Truist Financial upped their target price on Parker-Hannifin from $1,269.00 to $1,358.00 and gave the company a “buy” rating in a report on Friday, August 7th. UBS Group set a $950.00 target price on Parker-Hannifin in a research note on Wednesday, October 14th. Finally, Robert W. Baird lifted their price target on Parker-Hannifin from $1,050.00 to $1,275.00 in a report on Friday, August 7th. Eighteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Parker-Hannifin currently has a consensus rating of “Moderate Buy” and an average price target of $1,146.35.

Parker-Hannifin Stock Performance

Shares of PH opened at $880.03 on Monday. Parker-Hannifin Corporation has a 1 year low of $755.10 and a 1 year high of $1,099.94. The stock has a 50-day simple moving average of $966.89 and a 200-day simple moving average of $951.31. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.74 and a current ratio of 1.26. The stock has a market capitalization of $110.98 billion, a PE ratio of 30.89, a PEG ratio of 2.45 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 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 company had revenue of $5.75 billion for the quarter, compared to analyst estimates of $5.57 billion. During the same period in the prior year, the firm posted $7.69 earnings per share. The firm’s 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. On average, analysts predict that Parker-Hannifin Corporation will post 35.72 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 11th. Stockholders of record on Monday, August 31st were issued a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Monday, August 31st. Parker-Hannifin’s dividend payout ratio (DPR) is currently 28.08%.

Insider Activity

In other Parker-Hannifin news, VP Berend Bracht sold 602 shares of the stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $1,040.47, for a total value of $626,362.94. Following the completion of the transaction, the vice president directly 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 filing with the SEC, which is accessible through the SEC website. 0.35% of the stock is owned by corporate insiders.

Parker-Hannifin Company Profile

Parker-Hannifin Corporation is a diversified manufacturer of motion and control technologies and systems. The company serves aerospace, industrial, and other specialized markets with products designed to control the movement and flow of liquids and gases, as well as mechanical motion and power.

Its product portfolio includes hydraulic and pneumatic systems, filtration and process-control equipment, electromechanical technologies, sealing and shielding products, connectors, pumps, valves, and related components.