Parker-Hannifin Corporation $PH Stock: One Wealth Capital Management LLC Cuts Stake

One Wealth Capital Management LLC decreased its stake in Parker-Hannifin Corporation (NYSE:PH) by 79.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 243 shares of the industrial products company’s stock after selling 951 shares during the quarter. One Wealth Capital Management LLC’s holdings in Parker-Hannifin were worth $232,000 at the end of the most recent quarter.

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

Insiders Place Their Bets

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 value of $626,362.94. Following 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.35% of the stock is owned by corporate insiders.

Parker-Hannifin Trading Down 1.5%

PH opened at $880.03 on Friday. Parker-Hannifin Corporation has a 1-year low of $755.10 and a 1-year high of $1,099.94. 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. The company has a current ratio of 1.26, a quick ratio of 0.74 and a debt-to-equity ratio of 0.44. The firm has a 50-day moving average price of $966.89 and a two-hundred day moving average price of $951.03.

Parker-Hannifin (NYSE:PH) last announced 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 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 business earned $7.69 earnings per share. Parker-Hannifin’s quarterly 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. As a group, equities analysts anticipate that Parker-Hannifin Corporation will post 35.72 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 11th. Shareholders of record on Monday, August 31st were given a dividend of $2.00 per share. The ex-dividend date was Monday, August 31st. This represents a $8.00 dividend on an annualized basis and a yield of 0.9%. Parker-Hannifin’s dividend payout ratio is presently 28.08%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on PH shares. Wells Fargo & Company started coverage on shares of Parker-Hannifin in a report on Thursday, September 24th. They set an “equal weight” rating and a $1,050.00 price target for the company. UBS Group set a $950.00 price objective on shares of Parker-Hannifin in a report on Wednesday, October 14th. Stifel Nicolaus set a $1,002.00 price objective on shares of Parker-Hannifin in a report on Monday, October 19th. Jefferies Financial Group lifted their target price on shares of Parker-Hannifin from $1,100.00 to $1,275.00 in a research note on Friday, August 7th. Finally, Robert W. Baird boosted their target price on Parker-Hannifin from $1,050.00 to $1,275.00 in a report on Friday, August 7th. Eighteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, Parker-Hannifin presently has a consensus rating of “Moderate Buy” and an average target price of $1,146.35.

About Parker-Hannifin

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.