Parker-Hannifin Corporation $PH Stock Position Decreased by Cornerstone Wealth Management LLC

Cornerstone Wealth Management LLC reduced its position in shares of Parker-Hannifin Corporation (NYSE:PH) by 8.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,225 shares of the industrial products company’s stock after selling 640 shares during the period. Cornerstone Wealth Management LLC’s holdings in Parker-Hannifin were worth $6,903,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of PH. Proficio Capital Partners LLC increased its holdings in shares of Parker-Hannifin by 234.0% during the 2nd quarter. Proficio Capital Partners LLC now owns 1,954 shares of the industrial products company’s stock worth $1,911,000 after purchasing an additional 1,369 shares during the period. BNP Paribas raised its position in shares of Parker-Hannifin by 4.1% during the second quarter. BNP Paribas now owns 54,208 shares of the industrial products company’s stock valued at $52,717,000 after buying an additional 2,121 shares during the last quarter. Integrated Wealth Concepts LLC raised its position in shares of Parker-Hannifin by 86.1% during the second quarter. Integrated Wealth Concepts LLC now owns 3,503 shares of the industrial products company’s stock valued at $3,426,000 after buying an additional 1,621 shares during the last quarter. National Pension Service lifted its stake in shares of Parker-Hannifin by 3.0% in the second quarter. National Pension Service now owns 367,138 shares of the industrial products company’s stock valued at $359,105,000 after buying an additional 10,590 shares during the period. Finally, Rakuten Investment Management Inc. bought a new stake in shares of Parker-Hannifin in the second quarter valued at about $19,883,000. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

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 sale, 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 position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.35% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on PH shares. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Parker-Hannifin from $998.00 to $1,023.00 and gave the company a “hold” rating in a research report on Wednesday, September 30th. Raymond James Financial increased their price target on shares of Parker-Hannifin from $1,050.00 to $1,250.00 and gave the stock an “outperform” rating in a research report on Monday, August 10th. BNP Paribas Exane increased their price target on shares of Parker-Hannifin from $1,220.00 to $1,270.00 and gave the stock an “outperform” rating in a research report on Friday, September 18th. Susquehanna raised their price target on shares of 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. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Parker-Hannifin in a report on Thursday, October 15th. Eighteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $1,146.35.

Parker-Hannifin Trading Up 0.8%

Shares of PH opened at $964.17 on Wednesday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.55 and a current ratio of 0.94. The company has a market cap of $121.59 billion, a price-to-earnings ratio of 33.11, a PEG ratio of 2.26 and a beta of 1.15. The stock has a fifty day moving average price of $945.24 and a two-hundred day moving average price of $949.42. Parker-Hannifin Corporation has a 52-week low of $806.22 and a 52-week high of $1,099.94.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, November 5th. The industrial products company reported $8.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.21 by $0.69. The firm had revenue of $5.99 billion for the quarter, compared to the consensus estimate of $5.81 billion. Parker-Hannifin had a return on equity of 28.80% and a net margin of 16.62%. The business’s revenue for the quarter was up 17.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $7.22 EPS. Parker-Hannifin has set its FY 2027 guidance at 36.450-37.250 EPS. Analysts predict that Parker-Hannifin Corporation will post 37.04 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 4th. Shareholders of record on Friday, November 13th will be issued a $2.00 dividend. This represents a $8.00 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Friday, November 13th. Parker-Hannifin’s dividend payout ratio is 27.47%.

Parker-Hannifin Company Profile

Parker-Hannifin is a global manufacturer of motion and control technologies. Its products include hydraulic and pneumatic systems, fluid connectors, filtration and sealing products, electromechanical components, and systems for aerospace and climate control applications. The company serves customers across industries such as aerospace, manufacturing, transportation, energy, and life sciences. Its operations span markets around the world, with businesses organized around industrial and aerospace products and services.