Parker-Hannifin Corporation $PH Stock: Thurston Springer Miller Herd & Titak Inc. Trims Stake

Thurston Springer Miller Herd & Titak Inc. lessened its position in shares of Parker-Hannifin Corporation (NYSE:PH) by 63.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 402 shares of the industrial products company’s stock after selling 710 shares during the quarter. Thurston Springer Miller Herd & Titak Inc.’s holdings in Parker-Hannifin were worth $384,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of PH. E Fund Management Co. Ltd. raised its stake in shares of Parker-Hannifin by 2.1% in the 2nd 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 boosted its position in shares of Parker-Hannifin by 3.1% during the 1st quarter. Optas LLC now owns 370 shares of the industrial products company’s stock valued at $331,000 after acquiring an additional 11 shares in the last quarter. RFG Advisory LLC boosted its position in shares of 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 acquiring an additional 12 shares in the last quarter. Allen Capital Group LLC increased its stake in Parker-Hannifin by 4.8% in 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 during the period. Finally, Doliver Advisors LP increased its stake 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 valued at $1,967,000 after acquiring an additional 12 shares during the period. 82.44% of the stock is currently owned by institutional investors.

Insider Transactions at Parker-Hannifin

In related news, VP Berend Bracht sold 602 shares of the company’s stock in a transaction dated 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 owned 4,399 shares in the company, valued at $4,577,027.53. This represents a 12.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.35% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on PH shares. Sanford C. Bernstein raised their price target on shares of Parker-Hannifin from $1,037.00 to $1,218.00 and gave the stock an “outperform” rating in a research note on Friday, August 14th. TD Cowen lifted their price objective on Parker-Hannifin from $850.00 to $950.00 and gave the company a “hold” rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft upped their price objective on Parker-Hannifin from $998.00 to $1,023.00 and gave the company a “hold” rating in a research note on Wednesday, September 30th. JPMorgan Chase & Co. dropped their target price on Parker-Hannifin from $1,140.00 to $1,131.00 and set an “overweight” rating for the company in a report on Friday, October 9th. Finally, Jefferies Financial Group increased their target price on Parker-Hannifin from $1,100.00 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 company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,153.22.

Parker-Hannifin Price Performance

Shares of NYSE PH traded up $6.64 during mid-day trading on Wednesday, hitting $960.08. 334,311 shares of the stock were exchanged, compared to its average volume of 683,834. Parker-Hannifin Corporation has a twelve month low of $721.17 and a twelve month high of $1,099.94. The stock’s fifty day simple moving average is $985.38 and its two-hundred day simple moving average is $948.97. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.74 and a current ratio of 1.26. The company has a market cap of $121.08 billion, a P/E ratio of 33.70, a PEG ratio of 2.71 and a beta of 1.12.

Parker-Hannifin (NYSE:PH) last announced its earnings results 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. Parker-Hannifin had a return on equity of 28.48% and a net margin of 16.97%. The business had revenue of $5.75 billion for the quarter, compared to the consensus estimate of $5.57 billion. During the same period in the previous year, the business earned $7.69 EPS. Parker-Hannifin’s 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, analysts forecast that Parker-Hannifin Corporation will post 35.14 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 11th. Investors of record on Monday, August 31st were issued a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Monday, August 31st. Parker-Hannifin’s payout ratio is currently 28.08%.

Parker-Hannifin Company Profile

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.