Parker-Hannifin Corporation $PH Stock Bought by Confluence Wealth Services Inc.

Confluence Wealth Services Inc. increased its holdings in Parker-Hannifin Corporation (NYSE:PH) by 60.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,951 shares of the industrial products company’s stock after buying an additional 1,111 shares during the period. Confluence Wealth Services Inc.’s holdings in Parker-Hannifin were worth $2,819,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in PH. E Fund Management Co. Ltd. increased its stake in Parker-Hannifin by 2.1% during the 2nd quarter. E Fund Management Co. Ltd. now owns 477 shares of the industrial products company’s stock worth $467,000 after acquiring an additional 10 shares during the period. Allen Capital Group LLC lifted its position in shares of Parker-Hannifin by 4.8% during the 1st 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 during the period. Doliver Advisors LP grew its holdings in shares of Parker-Hannifin by 0.6% during the 2nd quarter. Doliver Advisors LP now owns 2,011 shares of the industrial products company’s stock worth $1,967,000 after purchasing an additional 12 shares in the last quarter. Bullock Wealth Management Group grew its holdings in shares of Parker-Hannifin by 1.6% during the 3rd quarter. Bullock Wealth Management Group now owns 754 shares of the industrial products company’s stock worth $728,000 after purchasing an additional 12 shares in the last quarter. Finally, Wedbush Securities Inc. grew its holdings in shares of Parker-Hannifin by 0.8% during the 3rd quarter. Wedbush Securities Inc. now owns 1,510 shares of the industrial products company’s stock worth $1,442,000 after purchasing an additional 12 shares in the last quarter. 82.44% of the stock is currently owned by institutional investors.

Insider Transactions at Parker-Hannifin

In other news, VP Berend Bracht sold 602 shares of the stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $1,040.47, for a total value of $626,362.94. Following the completion of the transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.35% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

PH has been the subject of a number of analyst reports. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Parker-Hannifin in a research note on Monday. Wall Street Zen downgraded shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a research note on Saturday. Raymond James Financial raised their target price on shares of Parker-Hannifin from $1,050.00 to $1,250.00 and gave the company an “outperform” rating in a report on Monday, August 10th. TD Cowen boosted their target price on shares of Parker-Hannifin from $850.00 to $950.00 and gave the company a “hold” rating in a research report on Wednesday, October 14th. Finally, Robert W. Baird upped their price target on shares of Parker-Hannifin from $1,050.00 to $1,275.00 in a report on Friday, August 7th. Eighteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, Parker-Hannifin has an average rating of “Moderate Buy” and a consensus target price of $1,146.35.

Parker-Hannifin Price Performance

Shares of PH stock opened at $964.17 on Wednesday. The company has a quick ratio of 0.55, a current ratio of 0.94 and a debt-to-equity ratio of 0.79. Parker-Hannifin Corporation has a twelve month low of $806.22 and a twelve month high of $1,099.94. The company has a market cap of $121.59 billion, a P/E ratio of 33.11, a P/E/G ratio of 2.26 and a beta of 1.15. The business has a fifty day simple moving average of $945.24 and a 200 day simple moving average of $949.42.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, November 5th. The industrial products company reported $8.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.21 by $0.69. The firm had revenue of $5.99 billion for the quarter, compared to analysts’ expectations of $5.81 billion. Parker-Hannifin had a return on equity of 28.80% and a net margin of 16.62%. The business’s revenue for the quarter was up 17.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $7.22 earnings per share. Parker-Hannifin has set its FY 2027 guidance at 36.450-37.250 EPS. On average, sell-side analysts forecast that Parker-Hannifin Corporation will post 37.04 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 4th. Investors of record on Friday, November 13th will be issued a dividend of $2.00 per share. The ex-dividend date of this dividend is Friday, November 13th. This represents a $8.00 annualized dividend and a dividend yield of 0.8%. Parker-Hannifin’s payout ratio is 27.47%.

About Parker-Hannifin

Parker-Hannifin is a global manufacturer of motion and control technologies. Its products include hydraulic and pneumatic systems, fluid connectors, filtration and sealing products, electromechanical components, and systems for aerospace and climate control applications. The company serves customers across industries such as aerospace, manufacturing, transportation, energy, and life sciences. Its operations span markets around the world, with businesses organized around industrial and aerospace products and services.