Bank of Nova Scotia Has $9.98 Million Stock Position in Parker-Hannifin Corporation $PH

Bank of Nova Scotia lessened its stake in Parker-Hannifin Corporation (NYSE:PH) by 42.1% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,282 shares of the industrial products company’s stock after selling 10,399 shares during the quarter. Bank of Nova Scotia’s holdings in Parker-Hannifin were worth $9,976,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of PH. Wealth Preservation Advisors LLC bought a new stake in shares of Parker-Hannifin during the 1st quarter worth approximately $27,000. Interchange Capital Partners LLC acquired a new position in Parker-Hannifin during the second quarter valued at approximately $31,000. Saudi Central Bank bought a new stake in Parker-Hannifin during the first quarter worth $31,000. Princeton Global Asset Management LLC lifted its stake in Parker-Hannifin by 56.1% during the second quarter. Princeton Global Asset Management LLC now owns 64 shares of the industrial products company’s stock worth $45,000 after purchasing an additional 23 shares during the last quarter. Finally, NewSquare Capital LLC boosted its holdings in shares of Parker-Hannifin by 62.2% in the 2nd quarter. NewSquare Capital LLC now owns 73 shares of the industrial products company’s stock valued at $51,000 after purchasing an additional 28 shares in the last quarter. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Parker-Hannifin Stock Up 3.0%

Shares of NYSE PH opened at $889.13 on Thursday. The company has a 50 day simple moving average of $802.66 and a 200 day simple moving average of $747.94. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.07 and a quick ratio of 0.61. Parker-Hannifin Corporation has a 1 year low of $488.45 and a 1 year high of $893.47. The firm has a market cap of $112.20 billion, a PE ratio of 31.68, a price-to-earnings-growth ratio of 3.00 and a beta of 1.25.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings results on Thursday, November 6th. The industrial products company reported $7.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.62 by $0.60. The firm had revenue of $5.08 billion during the quarter, compared to analysts’ expectations of $4.94 billion. Parker-Hannifin had a net margin of 18.17% and a return on equity of 27.23%. The company’s revenue was up 3.7% on a year-over-year basis. During the same period in the prior year, the company posted $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. On average, research analysts forecast that Parker-Hannifin Corporation will post 26.71 EPS for the current year.

Parker-Hannifin Dividend Announcement

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

Insider Transactions at Parker-Hannifin

In other news, VP Rachid Bendali sold 1,437 shares of the stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $852.99, for a total value of $1,225,746.63. Following the completion of the sale, the vice president owned 2,714 shares of the company’s stock, valued at approximately $2,315,014.86. This represents a 34.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Berend Bracht sold 3,507 shares of the firm’s stock in a transaction dated 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 transaction, the vice president owned 2,580 shares of the company’s stock, valued at $2,230,616.40. This trade represents a 57.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.32% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Wells Fargo & Company upped their price objective on Parker-Hannifin from $840.00 to $925.00 and gave the stock an “overweight” rating in a research report on Friday, November 7th. Deutsche Bank Aktiengesellschaft downgraded Parker-Hannifin from a “buy” rating to a “hold” rating and set a $809.00 target price for the company. in a research note on Thursday, September 4th. 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. Mizuho lifted their price target on shares of Parker-Hannifin from $800.00 to $825.00 and gave the company an “outperform” rating in a report on Friday, October 17th. Finally, Cowen reiterated a “hold” rating on shares of Parker-Hannifin in a research report on Friday, August 29th. Fourteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $883.41.

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.