Berend Bracht Sells 602 Shares of Parker-Hannifin (NYSE:PH) Stock

Parker-Hannifin Corporation (NYSE:PH) VP Berend Bracht sold 602 shares of the business’s stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $1,040.47, for a total transaction of $626,362.94. Following the sale, the vice president directly owned 4,399 shares in the company, valued at approximately $4,577,027.53. This represents a 12.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Parker-Hannifin Trading Down 1.6%

Shares of Parker-Hannifin stock opened at $995.24 on Friday. The firm’s 50 day simple moving average is $991.71 and its two-hundred day simple moving average is $950.48. The firm has a market capitalization of $125.45 billion, a price-to-earnings ratio of 34.93, a PEG ratio of 2.59 and a beta of 1.12. Parker-Hannifin Corporation has a 12-month low of $715.37 and a 12-month high of $1,099.94. The company has a current ratio of 1.26, a quick ratio of 0.74 and a debt-to-equity ratio of 0.44.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data 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. The business had revenue of $5.75 billion during the quarter, compared to the consensus estimate of $5.57 billion. Parker-Hannifin had a net margin of 16.97% and a return on equity of 28.48%. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $7.69 earnings per share. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. Analysts predict that Parker-Hannifin Corporation will post 34.93 EPS for the current year.

Parker-Hannifin Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Monday, August 31st will be given a dividend of $2.00 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a $8.00 dividend on an annualized basis and a yield of 0.8%. Parker-Hannifin’s payout ratio is currently 28.08%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on PH. UBS Group increased their price objective on Parker-Hannifin from $1,092.00 to $1,250.00 and gave the company a “buy” rating in a report on Friday, August 7th. JPMorgan Chase & Co. dropped their target price on Parker-Hannifin from $1,100.00 to $1,060.00 and set an “overweight” rating on the stock in a research report on Thursday, May 7th. KeyCorp increased their price target on shares of Parker-Hannifin from $1,100.00 to $1,210.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Citigroup raised their price target on shares of Parker-Hannifin from $1,141.00 to $1,232.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Finally, Wells Fargo & Company decreased their price objective on shares of Parker-Hannifin from $980.00 to $950.00 and set an “overweight” rating for the company in a research note on Tuesday, May 26th. Seventeen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,100.00.

Hedge Funds Weigh In On Parker-Hannifin

Several institutional investors and hedge funds have recently modified their holdings of the stock. Brighton Jones LLC raised its position in Parker-Hannifin by 5.9% during the fourth quarter. Brighton Jones LLC now owns 1,808 shares of the industrial products company’s stock valued at $1,150,000 after acquiring an additional 101 shares in the last quarter. Bison Wealth LLC lifted its stake in shares of Parker-Hannifin by 4.5% in the 4th quarter. Bison Wealth LLC now owns 749 shares of the industrial products company’s stock valued at $476,000 after purchasing an additional 32 shares during the period. Empowered Funds LLC boosted its holdings in Parker-Hannifin by 0.5% during the first quarter. Empowered Funds LLC now owns 2,894 shares of the industrial products company’s stock worth $1,759,000 after buying an additional 15 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in Parker-Hannifin by 26.2% during the first quarter. Acadian Asset Management LLC now owns 799 shares of the industrial products company’s stock worth $484,000 after buying an additional 166 shares in the last quarter. Finally, Sivia Capital Partners LLC grew its position in Parker-Hannifin by 3.6% during the second quarter. Sivia Capital Partners LLC now owns 430 shares of the industrial products company’s stock valued at $300,000 after buying an additional 15 shares during the period. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Company Profile

Parker-Hannifin Corporation (NYSE: PH) is a global manufacturer and provider of motion and control technologies and systems. The company designs, manufactures and services a broad range of engineered components and systems used to control the movement and flow of liquids, gases and hydraulic power. Its product portfolio is applied across demanding environments and includes solutions for industrial manufacturing, aerospace, mobile equipment and other engineered applications.

Parker-Hannifin’s product and service offerings span hydraulic and pneumatic components, fittings and fluid connectors, valves, pumps and motors, electromechanical actuators and motion-control systems, filtration and separation products, and seals and sealing systems.