Parker-Hannifin Corporation $PH Stake Trimmed by Segment Wealth Management LLC

Segment Wealth Management LLC trimmed its stake in Parker-Hannifin Corporation (NYSE:PH) by 2.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 27,055 shares of the industrial products company’s stock after selling 638 shares during the quarter. Parker-Hannifin makes up 1.3% of Segment Wealth Management LLC’s holdings, making the stock its 18th biggest position. Segment Wealth Management LLC’s holdings in Parker-Hannifin were worth $25,849,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. E Fund Management Co. Ltd. lifted its stake in 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 purchasing an additional 10 shares during the last quarter. Optas LLC grew its holdings in Parker-Hannifin by 3.1% during the first quarter. Optas LLC now owns 370 shares of the industrial products company’s stock valued at $331,000 after purchasing an additional 11 shares during the period. Allen Capital Group LLC grew its holdings 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 purchasing an additional 12 shares during the period. Doliver Advisors LP increased its position in Parker-Hannifin by 0.6% in the second quarter. Doliver Advisors LP now owns 2,011 shares of the industrial products company’s stock worth $1,967,000 after buying an additional 12 shares during the last quarter. Finally, Bullock Wealth Management Group increased its position in Parker-Hannifin by 1.6% in the third quarter. Bullock Wealth Management Group now owns 754 shares of the industrial products company’s stock worth $728,000 after buying an additional 12 shares during the last quarter. 82.44% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

PH has been the topic of several research reports. Weiss Ratings restated a “buy (b)” rating on shares of Parker-Hannifin in a research note on Thursday, October 15th. Deutsche Bank Aktiengesellschaft increased their price target on Parker-Hannifin from $998.00 to $1,023.00 and gave the stock a “hold” rating in a research note on Wednesday, September 30th. JPMorgan Chase & Co. cut their price target on Parker-Hannifin from $1,140.00 to $1,131.00 and set an “overweight” rating for the company in a research note on Friday, October 9th. BMO Capital Markets reissued an “outperform” rating and issued a $1,214.00 price objective (up from $1,068.00) on shares of Parker-Hannifin in a report on Friday, August 7th. Finally, Wall Street Zen upgraded Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Saturday. Eighteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $1,146.35.

Insiders Place Their Bets

In other news, VP Berend Bracht sold 602 shares of the company’s stock in a transaction dated 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 $4,577,027.53. This represents a 12.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.35% of the stock is owned by insiders.

Parker-Hannifin Price Performance

Parker-Hannifin stock opened at $905.02 on Tuesday. Parker-Hannifin Corporation has a one year low of $755.10 and a one year high of $1,099.94. The business has a fifty day moving average price of $968.75 and a 200-day moving average price of $949.97. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.26 and a quick ratio of 0.74. The firm has a market capitalization of $114.13 billion, a P/E ratio of 31.77, a PEG ratio of 2.45 and a beta of 1.12.

Parker-Hannifin (NYSE:PH) last announced its quarterly 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 return on equity of 28.48% and a net margin of 16.97%. The company had revenue of $5.75 billion during the quarter, compared to analysts’ expectations of $5.57 billion. During the same period in the previous year, the business earned $7.69 earnings per share. The firm’s quarterly revenue was up 9.8% compared to the same quarter last year. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. As a group, equities research analysts forecast that Parker-Hannifin Corporation will post 35.72 EPS for the current year.

Parker-Hannifin Announces Dividend

The business also recently announced 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 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend was Monday, August 31st. Parker-Hannifin’s payout ratio is presently 28.08%.

Parker-Hannifin Profile

Parker-Hannifin Corporation is a diversified manufacturer of motion and control technologies and systems. The company serves aerospace, industrial, and other specialized markets with products designed to control the movement and flow of liquids and gases, as well as mechanical motion and power.

Its product portfolio includes hydraulic and pneumatic systems, filtration and process-control equipment, electromechanical technologies, sealing and shielding products, connectors, pumps, valves, and related components.