Parker-Hannifin Corporation $PH Stock Position Cut by Fragasso Financial Advisors Inc

Fragasso Financial Advisors Inc decreased its position in Parker-Hannifin Corporation (NYSE:PH) by 15.4% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 6,452 shares of the industrial products company’s stock after selling 1,176 shares during the period. Fragasso Financial Advisors Inc’s holdings in Parker-Hannifin were worth $6,210,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. E Fund Management Co. Ltd. lifted its stake in shares of Parker-Hannifin by 2.1% in the second quarter. E Fund Management Co. Ltd. now owns 477 shares of the industrial products company’s stock valued at $467,000 after buying an additional 10 shares in the last quarter. Optas LLC grew its stake in Parker-Hannifin by 3.1% in the 1st quarter. Optas LLC now owns 370 shares of the industrial products company’s stock valued at $331,000 after buying an additional 11 shares in the last quarter. RFG Advisory LLC grew its holdings in Parker-Hannifin by 0.3% during the 1st quarter. RFG Advisory LLC now owns 3,740 shares of the industrial products company’s stock valued at $3,348,000 after buying an additional 12 shares in the last quarter. Allen Capital Group LLC grew its stake in Parker-Hannifin by 4.8% during the first quarter. Allen Capital Group LLC now owns 264 shares of the industrial products company’s stock valued at $236,000 after acquiring an additional 12 shares in the last quarter. Finally, Doliver Advisors LP boosted its stake in Parker-Hannifin by 0.6% during the second quarter. Doliver Advisors LP now owns 2,011 shares of the industrial products company’s stock valued at $1,967,000 after buying an additional 12 shares during the period. 82.44% of the stock is owned by institutional investors.

Parker-Hannifin Trading Down 0.5%

PH traded down $4.70 on Tuesday, hitting $952.19. The company had a trading volume of 158,722 shares, compared to its average volume of 684,244. The company has a market cap of $120.08 billion, a PE ratio of 33.42, a PEG ratio of 2.73 and a beta of 1.12. The company has a quick ratio of 0.74, a current ratio of 1.26 and a debt-to-equity ratio of 0.44. The business’s fifty day simple moving average is $986.14 and its 200 day simple moving average is $948.73. Parker-Hannifin Corporation has a 12-month low of $717.02 and a 12-month high of $1,099.94.

Parker-Hannifin (NYSE:PH) last announced its earnings results on Thursday, August 6th. The industrial products company reported $9.27 earnings per share for the quarter, beating the consensus estimate of $8.31 by $0.96. Parker-Hannifin had a net margin of 16.97% and a return on equity of 28.48%. The business had revenue of $5.75 billion for the quarter, compared to the consensus estimate of $5.57 billion. During the same quarter in the prior year, the firm posted $7.69 earnings per share. The business’s revenue for the quarter was up 9.8% on a year-over-year basis. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. Equities research analysts expect that Parker-Hannifin Corporation will post 35.06 EPS for the current year.

Parker-Hannifin Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 11th. Shareholders of record on Monday, August 31st were issued a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 0.8%. The ex-dividend date was Monday, August 31st. Parker-Hannifin’s dividend payout ratio (DPR) is presently 28.08%.

Analyst Upgrades and Downgrades

PH has been the topic of a number of research analyst reports. Robert W. Baird increased their price target on shares of Parker-Hannifin from $1,050.00 to $1,275.00 in a report on Friday, August 7th. Sanford C. Bernstein raised their target price on shares of Parker-Hannifin from $1,037.00 to $1,218.00 and gave the stock an “outperform” rating in a research report on Friday, August 14th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Parker-Hannifin from $998.00 to $1,023.00 and gave the company a “hold” rating in a report on Wednesday, September 30th. Wells Fargo & Company began coverage on shares of Parker-Hannifin in a research note on Thursday, September 24th. They issued an “equal weight” rating and a $1,050.00 price target on the stock. Finally, Wall Street Zen downgraded shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a research report on Saturday, August 22nd. Eighteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,158.65.

Insider Buying and Selling at Parker-Hannifin

In other news, VP Berend Bracht sold 602 shares of the 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 transaction of $626,362.94. Following the transaction, the vice president directly owned 4,399 shares in the company, valued at approximately $4,577,027.53. This trade represents a 12.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.35% of the company’s stock.

About Parker-Hannifin

Parker-Hannifin Corporation is a diversified manufacturer of motion and control technologies. The company develops and produces components and systems that manage the movement and control of liquids, gases and mechanical force across industrial, mobile and aerospace applications.

Its product portfolio includes hydraulic and pneumatic systems, electromechanical technologies, filtration and fluid-management equipment, seals and shielding products, connectors, pumps, valves, sensors, thermal-management solutions and related engineered systems.