Parker-Hannifin Corporation $PH Shares Sold by Smith Group Asset Management LLC

Smith Group Asset Management LLC lowered its position in Parker-Hannifin Corporation (NYSE:PH) by 37.3% in the third quarter, Holdings Channel.com reports. The institutional investor owned 54,417 shares of the industrial products company’s stock after selling 32,434 shares during the period. Parker-Hannifin makes up about 3.4% of Smith Group Asset Management LLC’s portfolio, making the stock its 10th largest position. Smith Group Asset Management LLC’s holdings in Parker-Hannifin were worth $51,991,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in PH. BlackRock Inc. acquired a new stake in Parker-Hannifin during the 2nd quarter worth $10,163,362,000. Bank of America Corp DE acquired a new position in Parker-Hannifin in the second quarter valued at about $3,273,507,000. Deutsche Bank AG acquired a new position in Parker-Hannifin in the second quarter valued at about $987,587,000. Bank of New York Mellon Corp bought a new stake in shares of Parker-Hannifin in the second quarter worth about $712,222,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Parker-Hannifin in the second quarter worth about $305,628,000. Institutional investors own 82.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on PH shares. Wells Fargo & Company began coverage on Parker-Hannifin in a research report on Thursday, September 24th. They set an “equal weight” rating and a $1,050.00 price target on the stock. Susquehanna boosted their price objective on Parker-Hannifin from $1,100.00 to $1,250.00 and gave the company a “positive” rating in a research report on Friday, August 7th. Weiss Ratings reissued a “buy (b)” rating on shares of Parker-Hannifin in a research note on Thursday, October 15th. Robert W. Baird raised their target price on shares of Parker-Hannifin from $1,050.00 to $1,275.00 in a report on Friday, August 7th. Finally, Argus lifted their price target on shares of Parker-Hannifin from $1,030.00 to $1,200.00 and gave the company a “buy” rating in a research note on Monday, August 10th. Eighteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $1,146.35.

Parker-Hannifin Price Performance

Shares of NYSE PH opened at $912.00 on Thursday. The firm has a market cap of $115.01 billion, a PE ratio of 32.01, a PEG ratio of 2.45 and a beta of 1.12. The company has a current ratio of 1.26, a quick ratio of 0.74 and a debt-to-equity ratio of 0.44. Parker-Hannifin Corporation has a 1-year low of $755.10 and a 1-year high of $1,099.94. The company has a fifty day moving average price of $960.08 and a 200 day moving average price of $949.84.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, August 6th. The industrial products company reported $9.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.31 by $0.96. Parker-Hannifin had a return on equity of 28.48% and a net margin of 16.97%. The firm had revenue of $5.75 billion during the quarter, compared to analysts’ expectations of $5.57 billion. During the same quarter in the prior year, the company earned $7.69 EPS. The company’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. Research analysts predict that Parker-Hannifin Corporation will post 35.72 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 4th. Stockholders 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 dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, November 13th. Parker-Hannifin’s dividend payout ratio is currently 28.08%.

Insider Buying and Selling at Parker-Hannifin

In related 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 transaction of $626,362.94. Following the completion of the transaction, the vice president directly owned 4,399 shares in the company, valued at approximately $4,577,027.53. This trade represents a 12.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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.