Parker-Hannifin Corporation $PH Stock: Fragasso Financial Advisors Inc Decreases Position

Fragasso Financial Advisors Inc trimmed its stake in Parker-Hannifin Corporation (NYSE:PH) by 15.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,452 shares of the industrial products company’s stock after selling 1,176 shares during the period. Fragasso Financial Advisors Inc’s holdings in Parker-Hannifin were worth $6,210,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in shares of Parker-Hannifin in the 2nd quarter worth $10,163,362,000. State Street Corp lifted its stake in shares of Parker-Hannifin by 0.5% during the second quarter. State Street Corp now owns 9,385,389 shares of the industrial products company’s stock valued at $9,180,037,000 after buying an additional 42,548 shares during the period. Bank of America Corp DE acquired a new stake in shares of Parker-Hannifin during the second quarter worth $3,273,507,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Parker-Hannifin by 2.5% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,032,942 shares of the industrial products company’s stock valued at $1,010,341,000 after buying an additional 25,167 shares during the period. Finally, Deutsche Bank AG purchased a new position in Parker-Hannifin during the second quarter worth approximately $987,587,000. 82.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Evercore upped their price objective on shares of Parker-Hannifin from $1,064.00 to $1,217.00 and gave the company an “outperform” rating in a research report on Tuesday, August 11th. UBS Group upped their price objective on 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. Truist Financial increased their price objective on 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 target price on Parker-Hannifin in a research note on Friday, August 7th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Parker-Hannifin in a research report on Friday, July 17th. Eighteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, Parker-Hannifin presently has an average rating of “Moderate Buy” and an average target price of $1,158.65.

Parker-Hannifin Stock Performance

Shares of PH traded down $4.70 on Tuesday, reaching $952.19. 158,722 shares of the stock traded hands, compared to its average volume of 684,244. Parker-Hannifin Corporation has a 12 month low of $717.02 and a 12 month 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 stock’s 50-day moving average price is $986.14 and its 200-day moving average price is $948.73. The firm has a market cap of $120.08 billion, a price-to-earnings ratio of 33.42, a P/E/G ratio of 2.73 and a beta of 1.12.

Parker-Hannifin (NYSE:PH) last announced its earnings results on Thursday, August 6th. The industrial products company reported $9.27 EPS for the quarter, topping the consensus estimate of $8.31 by $0.96. Parker-Hannifin had a return on equity of 28.48% and a net margin of 16.97%. The company had revenue of $5.75 billion for the quarter, compared to analysts’ expectations of $5.57 billion. During the same quarter in the prior year, the business earned $7.69 earnings per share. The business’s revenue for the quarter was up 9.8% on a year-over-year basis. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. Equities analysts forecast that Parker-Hannifin Corporation will post 35.06 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 11th. Shareholders of record on Monday, August 31st were issued a dividend of $2.00 per share. The ex-dividend date of this dividend was Monday, August 31st. This represents a $8.00 annualized dividend and a yield of 0.8%. 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 Parker-Hannifin 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 sale, the vice president owned 4,399 shares in the company, valued at $4,577,027.53. The trade was a 12.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.35% of the stock is currently owned by corporate insiders.

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.