1832 Asset Management L.P. Sells 80,396 Shares of Parker-Hannifin Corporation $PH

1832 Asset Management L.P. trimmed its holdings in Parker-Hannifin Corporation (NYSE:PH) by 95.1% in the second quarter, Holdings Channel reports. The institutional investor owned 4,124 shares of the industrial products company’s stock after selling 80,396 shares during the period. 1832 Asset Management L.P.’s holdings in Parker-Hannifin were worth $2,880,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. CW Advisors LLC lifted its position in Parker-Hannifin by 19.6% during the second quarter. CW Advisors LLC now owns 55,449 shares of the industrial products company’s stock worth $38,731,000 after purchasing an additional 9,096 shares during the period. JT Stratford LLC acquired a new position in shares of Parker-Hannifin in the 2nd quarter valued at approximately $287,000. Twin Peaks Wealth Advisors LLC bought a new stake in shares of Parker-Hannifin during the 2nd quarter worth approximately $68,000. Groupe la Francaise lifted its holdings in shares of Parker-Hannifin by 16.7% during the 2nd quarter. Groupe la Francaise now owns 15,765 shares of the industrial products company’s stock worth $10,992,000 after acquiring an additional 2,261 shares during the period. Finally, Beacon Pointe Advisors LLC boosted its position in shares of Parker-Hannifin by 3.7% during the 2nd quarter. Beacon Pointe Advisors LLC now owns 16,700 shares of the industrial products company’s stock worth $11,665,000 after acquiring an additional 594 shares in the last quarter. 82.44% of the stock is currently owned by institutional investors.

Insider Transactions at Parker-Hannifin

In other Parker-Hannifin news, VP Rachid Bendali sold 1,437 shares of the business’s stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $852.99, for a total value of $1,225,746.63. Following the transaction, the vice president directly owned 2,714 shares in the company, valued at $2,315,014.86. The trade was a 34.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Berend Bracht sold 3,507 shares of the firm’s stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $864.58, for a total value of $3,032,082.06. Following the completion of the sale, the vice president directly owned 2,580 shares of the company’s stock, valued at $2,230,616.40. This represents a 57.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.32% of the stock is currently owned by insiders.

Parker-Hannifin Stock Performance

NYSE:PH opened at $880.17 on Friday. The company has a quick ratio of 0.61, a current ratio of 1.07 and a debt-to-equity ratio of 0.54. Parker-Hannifin Corporation has a twelve month low of $488.45 and a twelve month high of $882.00. The company has a fifty day moving average of $795.38 and a 200-day moving average of $742.91. The firm has a market capitalization of $111.07 billion, a P/E ratio of 31.36, a P/E/G ratio of 3.04 and a beta of 1.25.

Parker-Hannifin (NYSE:PH) last issued its earnings results on Thursday, November 6th. The industrial products company reported $7.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.62 by $0.60. The company had revenue of $5.08 billion for the quarter, compared to analysts’ expectations of $4.94 billion. Parker-Hannifin had a return on equity of 27.23% and a net margin of 18.17%.Parker-Hannifin’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period last year, the business earned $6.20 EPS. Parker-Hannifin has set its FY 2026 guidance at 29.600-30.400 EPS and its FY 2026 guidance at 29.600-30.400 EPS. As a group, sell-side analysts anticipate that Parker-Hannifin Corporation will post 26.71 EPS for the current year.

Parker-Hannifin Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 5th. Stockholders of record on Friday, November 7th were paid a dividend of $1.80 per share. This represents a $7.20 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Friday, November 7th. Parker-Hannifin’s payout ratio is presently 25.65%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PH. Cowen reaffirmed a “hold” rating on shares of Parker-Hannifin in a research note on Friday, August 29th. Truist Financial reissued a “buy” rating and issued a $977.00 target price (up previously from $910.00) on shares of Parker-Hannifin in a report on Friday, November 7th. Citigroup lifted their price target on shares of Parker-Hannifin from $831.00 to $874.00 and gave the company a “buy” rating in a report on Thursday, October 9th. Susquehanna reiterated a “positive” rating and set a $1,000.00 price objective on shares of Parker-Hannifin in a research report on Wednesday, November 12th. Finally, Wall Street Zen lowered shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a research report on Friday, November 28th. Fourteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Parker-Hannifin currently has an average rating of “Moderate Buy” and a consensus target price of $875.65.

Parker-Hannifin Profile

Parker-Hannifin Corporation manufactures and sells motion and control technologies and systems for various mobile, industrial, and aerospace markets worldwide. The company operates through two segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial segment offers sealing, shielding, thermal products and systems, adhesives, coatings, and noise vibration and harshness solutions; filters, systems, and diagnostics solutions to ensure purity and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors used in fluid and gas handling; and hydraulic, pneumatic, and electromechanical components and systems for builders and users of mobile and industrial machinery and equipment.