Parker-Hannifin Corporation $PH Stake Lessened by Marble Harbor Investment Counsel LLC

Marble Harbor Investment Counsel LLC lessened its holdings in shares of Parker-Hannifin Corporation (NYSE:PH) by 2.7% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 26,234 shares of the industrial products company’s stock after selling 725 shares during the quarter. Parker-Hannifin accounts for about 2.4% of Marble Harbor Investment Counsel LLC’s investment portfolio, making the stock its 10th largest holding. Marble Harbor Investment Counsel LLC’s holdings in Parker-Hannifin were worth $25,064,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. BlackRock Inc. acquired a new position in Parker-Hannifin during the second quarter valued at approximately $10,163,362,000. State Street Corp increased its position in shares of Parker-Hannifin by 0.5% in the second quarter. State Street Corp now owns 9,385,389 shares of the industrial products company’s stock worth $9,180,037,000 after acquiring an additional 42,548 shares in the last quarter. Bank of America Corp DE acquired a new stake in shares of Parker-Hannifin in the second quarter worth $3,273,507,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Parker-Hannifin by 2.5% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,032,942 shares of the industrial products company’s stock worth $1,010,341,000 after acquiring an additional 25,167 shares in the last quarter. Finally, Deutsche Bank AG purchased a new position in shares of Parker-Hannifin in the 2nd quarter valued at $987,587,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Stock Performance

Parker-Hannifin stock opened at $957.16 on Friday. Parker-Hannifin Corporation has a 12-month low of $806.22 and a 12-month high of $1,099.94. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.94 and a quick ratio of 0.55. The company has a market capitalization of $120.70 billion, a price-to-earnings ratio of 32.87, a price-to-earnings-growth ratio of 2.30 and a beta of 1.15. The firm’s fifty day moving average price is $945.81 and its 200 day moving average price is $949.76.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, November 5th. The industrial products company reported $8.90 earnings per share for the quarter, beating analysts’ consensus estimates of $8.21 by $0.69. The company had revenue of $5.99 billion during the quarter, compared to analysts’ expectations of $5.81 billion. Parker-Hannifin had a net margin of 16.62% and a return on equity of 28.80%. The firm’s revenue for the quarter was up 17.9% on a year-over-year basis. During the same period in the prior year, the company posted $7.22 EPS. Parker-Hannifin has set its FY 2027 guidance at 36.450-37.250 EPS. On average, research analysts forecast that Parker-Hannifin Corporation will post 37.08 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 4th. Investors of record on Friday, November 13th will be paid a $2.00 dividend. The ex-dividend date 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%.

Insider Activity at Parker-Hannifin

In related news, VP Berend Bracht sold 602 shares of the stock in a transaction dated 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 owned 4,399 shares of the company’s stock, valued at approximately $4,577,027.53. This represents a 12.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.35% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on PH. UBS Group set a $950.00 target price on shares of Parker-Hannifin in a report on Wednesday, October 14th. Robert W. Baird upped their price target on shares of Parker-Hannifin from $1,050.00 to $1,275.00 in a research report on Friday, August 7th. BMO Capital Markets reiterated an “outperform” rating and issued a $1,214.00 price target (up from $1,068.00) on shares of Parker-Hannifin in a report on Friday, August 7th. Mizuho set a $1,200.00 price objective on Parker-Hannifin in a research report on Thursday, October 15th. Finally, Truist Financial boosted their price objective on Parker-Hannifin from $1,269.00 to $1,358.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $1,146.35.

Parker-Hannifin Company Profile

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.