Parker-Hannifin Corporation $PH Shares Sold by Eastern Bank

Eastern Bank lessened its stake in Parker-Hannifin Corporation (NYSE:PH) by 13.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 49,212 shares of the industrial products company’s stock after selling 7,495 shares during the quarter. Eastern Bank’s holdings in Parker-Hannifin were worth $34,373,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PH. Wealth Preservation Advisors LLC acquired a new stake in shares of Parker-Hannifin in the first quarter valued at approximately $27,000. Saudi Central Bank acquired a new stake in Parker-Hannifin during the first quarter worth $31,000. Olde Wealth Management LLC acquired a new stake in Parker-Hannifin during the first quarter worth $35,000. Chilton Capital Management LLC increased its stake in Parker-Hannifin by 1,500.0% during the first quarter. Chilton Capital Management LLC now owns 64 shares of the industrial products company’s stock worth $39,000 after acquiring an additional 60 shares during the last quarter. Finally, Accent Capital Management LLC acquired a new stake in Parker-Hannifin during the first quarter worth $41,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Insider Buying and Selling at Parker-Hannifin

In other news, VP Robert W. Malone sold 2,257 shares of the business’s stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $730.66, for a total transaction of $1,649,099.62. Following the sale, the vice president owned 5,866 shares of the company’s stock, valued at $4,286,051.56. The trade was a 27.79% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Matthew A. Jacobson sold 575 shares of the company’s stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $733.06, for a total value of $421,509.50. Following the completion of the sale, the vice president directly owned 1,000 shares in the company, valued at approximately $733,060. The trade was a 36.51% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,039 shares of company stock valued at $10,356,566. 0.32% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PH. KeyCorp raised their price target on Parker-Hannifin from $790.00 to $810.00 and gave the stock an “overweight” rating in a research report on Friday, August 8th. Wall Street Zen upgraded Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Saturday, September 20th. Weiss Ratings restated a “buy (b)” rating on shares of Parker-Hannifin in a research report on Wednesday. Deutsche Bank Aktiengesellschaft lowered Parker-Hannifin from a “buy” rating to a “hold” rating and set a $809.00 price target for the company. in a research report on Thursday, September 4th. Finally, Evercore ISI restated an “outperform” rating on shares of Parker-Hannifin in a research report on Tuesday, August 19th. Fourteen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, Parker-Hannifin presently has a consensus rating of “Moderate Buy” and an average price target of $786.78.

Parker-Hannifin Trading Down 3.0%

NYSE:PH opened at $716.31 on Friday. The firm has a market cap of $90.64 billion, a PE ratio of 26.41, a price-to-earnings-growth ratio of 3.06 and a beta of 1.35. The stock has a fifty day moving average price of $748.97 and a 200 day moving average price of $685.15. Parker-Hannifin Corporation has a 12-month low of $488.45 and a 12-month high of $779.77. The company has a current ratio of 1.19, a quick ratio of 0.71 and a debt-to-equity ratio of 0.55.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings results on Thursday, August 7th. The industrial products company reported $7.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.08 by $0.61. The company had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.10 billion. Parker-Hannifin had a return on equity of 26.80% and a net margin of 17.79%.Parker-Hannifin’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same period in the previous year, the business earned $6.77 EPS. Parker-Hannifin has set its FY 2026 guidance at 28.400-29.400 EPS. Sell-side analysts anticipate that Parker-Hannifin Corporation will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Tuesday, September 2nd were given a dividend of $1.80 per share. The ex-dividend date was Tuesday, September 2nd. This represents a $7.20 dividend on an annualized basis and a dividend yield of 1.0%. Parker-Hannifin’s payout ratio is 26.55%.

Parker-Hannifin Company Profile

Parker-Hannifin Corporation manufactures and sells motion and control technologies and systems for various mobile, industrial, and aerospace markets worldwide. The company operates through two segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial segment offers sealing, shielding, thermal products and systems, adhesives, coatings, and noise vibration and harshness solutions; filters, systems, and diagnostics solutions to ensure purity and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors used in fluid and gas handling; and hydraulic, pneumatic, and electromechanical components and systems for builders and users of mobile and industrial machinery and equipment.