Parker-Hannifin Corporation $PH Position Cut by Marble Harbor Investment Counsel LLC

Marble Harbor Investment Counsel LLC lessened its holdings in Parker-Hannifin Corporation (NYSE:PH) by 2.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 26,234 shares of the industrial products company’s stock after selling 725 shares during the period. Parker-Hannifin accounts for approximately 2.4% of Marble Harbor Investment Counsel LLC’s portfolio, making the stock its 10th largest holding. Marble Harbor Investment Counsel LLC’s holdings in Parker-Hannifin were worth $25,064,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. BlackRock Inc. acquired a new position in shares of Parker-Hannifin during the 2nd quarter worth approximately $10,163,362,000. Bank of America Corp DE purchased a new stake in Parker-Hannifin in the 2nd quarter valued at approximately $3,273,507,000. Deutsche Bank AG acquired a new stake in Parker-Hannifin during the 2nd quarter valued at $987,587,000. Bank of New York Mellon Corp acquired a new stake in Parker-Hannifin during the 2nd quarter valued at $712,222,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Parker-Hannifin during the 2nd quarter valued at $305,628,000. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Parker-Hannifin Trading Down 1.6%

NYSE PH opened at $957.16 on Friday. The company has a market cap of $120.70 billion, a P/E ratio of 32.87, a P/E/G ratio of 2.30 and a beta of 1.15. Parker-Hannifin Corporation has a 12 month low of $806.22 and a 12 month high of $1,099.94. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.94 and a quick ratio of 0.55. The company has a 50-day moving average of $945.81 and a 200-day moving average of $949.76.

Parker-Hannifin (NYSE:PH) last released its earnings results 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. Parker-Hannifin had a net margin of 16.62% and a return on equity of 28.80%. The business had revenue of $5.99 billion for the quarter, compared to analysts’ expectations of $5.81 billion. During the same period last year, the company earned $7.22 earnings per share. The company’s quarterly revenue was up 17.9% on a year-over-year basis. Parker-Hannifin has set its FY 2027 guidance at 36.450-37.250 EPS. As a group, equities analysts predict that Parker-Hannifin Corporation will post 37.08 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The business 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 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Friday, November 13th. Parker-Hannifin’s dividend payout ratio (DPR) is 27.47%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on PH shares. Wall Street Zen cut Parker-Hannifin from a “buy” rating to a “hold” rating in a report on Saturday, November 7th. Argus upped their price objective on Parker-Hannifin from $1,030.00 to $1,200.00 and gave the company a “buy” rating in a research report on Monday, August 10th. Robert W. Baird increased their price objective on Parker-Hannifin from $1,050.00 to $1,275.00 in a research note on Friday, August 7th. KeyCorp lifted their price objective on Parker-Hannifin from $1,100.00 to $1,210.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $1,214.00 price objective (up from $1,068.00) on shares of Parker-Hannifin in a research report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Parker-Hannifin currently has an average rating of “Moderate Buy” and a consensus price target of $1,146.35.

Insider Buying and Selling at Parker-Hannifin

In other news, VP Berend Bracht sold 602 shares of the business’s stock in a transaction 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 completion of the sale, the vice president directly owned 4,399 shares of the company’s stock, valued at $4,577,027.53. The trade was a 12.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.35% of the stock is currently owned by company insiders.

Parker-Hannifin 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.