Pacific Heights Asset Management LLC Acquires 2,000 Shares of Parker-Hannifin Corporation $PH

Pacific Heights Asset Management LLC boosted its holdings in shares of Parker-Hannifin Corporation (NYSE:PH) by 3.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 65,000 shares of the industrial products company’s stock after purchasing an additional 2,000 shares during the period. Parker-Hannifin comprises approximately 2.2% of Pacific Heights Asset Management LLC’s investment portfolio, making the stock its 8th biggest holding. Pacific Heights Asset Management LLC’s holdings in Parker-Hannifin were worth $49,280,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Quadrant Capital Group LLC boosted its stake in shares of Parker-Hannifin by 20.1% in the second quarter. Quadrant Capital Group LLC now owns 3,610 shares of the industrial products company’s stock worth $2,521,000 after buying an additional 604 shares during the last quarter. Procyon Advisors LLC lifted its holdings in Parker-Hannifin by 158,565.9% in the third quarter. Procyon Advisors LLC now owns 5,069,374 shares of the industrial products company’s stock valued at $3,843,346,000 after acquiring an additional 5,066,179 shares during the period. Bank Julius Baer & Co. Ltd Zurich acquired a new position in Parker-Hannifin in the second quarter valued at approximately $733,000. Vanguard Group Inc. boosted its position in Parker-Hannifin by 0.9% in the 2nd quarter. Vanguard Group Inc. now owns 11,125,240 shares of the industrial products company’s stock worth $7,770,646,000 after purchasing an additional 101,476 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Parker-Hannifin by 0.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,075,234 shares of the industrial products company’s stock worth $1,449,496,000 after purchasing an additional 14,534 shares during the period. 82.44% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently issued reports on PH shares. Barclays boosted their target price on shares of Parker-Hannifin from $950.00 to $990.00 and gave the company an “overweight” rating in a research note on Wednesday, January 7th. Wall Street Zen upgraded shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Monday. Argus reissued a “buy” rating and set a $900.00 target price on shares of Parker-Hannifin in a research note on Monday, November 10th. Citigroup restated a “buy” rating on shares of Parker-Hannifin in a research report on Monday, January 12th. Finally, KeyCorp upped their price target on Parker-Hannifin from $935.00 to $1,050.00 and gave the stock an “overweight” rating in a report on Tuesday, January 6th. Seventeen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $946.17.

Parker-Hannifin Stock Down 0.0%

PH stock opened at $944.14 on Tuesday. Parker-Hannifin Corporation has a 52 week low of $488.45 and a 52 week high of $950.00. The company has a quick ratio of 0.61, a current ratio of 1.07 and a debt-to-equity ratio of 0.54. The firm has a 50-day simple moving average of $879.46 and a 200-day simple moving average of $793.55. The stock has a market capitalization of $119.14 billion, a P/E ratio of 33.64, a P/E/G ratio of 3.28 and a beta of 1.25.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings results on Thursday, November 6th. The industrial products company reported $7.22 earnings per share for the quarter, beating analysts’ consensus estimates of $6.62 by $0.60. Parker-Hannifin had a net margin of 18.17% and a return on equity of 27.23%. The firm had revenue of $5.08 billion for the quarter, compared to analyst estimates of $4.94 billion. During the same period last year, the company posted $6.20 EPS. Parker-Hannifin’s quarterly revenue was up 3.7% compared to the same quarter last year. Parker-Hannifin has set its FY 2026 guidance at 29.600-30.400 EPS and its FY 2026 guidance at 29.600-30.400 EPS. Equities analysts forecast that Parker-Hannifin Corporation will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 5th. Investors of record on Friday, November 7th were paid a dividend of $1.80 per share. This represents a $7.20 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Friday, November 7th. Parker-Hannifin’s dividend payout ratio is currently 25.65%.

Insider Buying and Selling at Parker-Hannifin

In related news, COO Andrew D. Ross sold 2,488 shares of the company’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $894.81, for a total value of $2,226,287.28. Following the completion of the sale, the chief operating officer owned 13,120 shares of the company’s stock, valued at approximately $11,739,907.20. This represents a 15.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Rachid Bendali sold 1,437 shares of the firm’s stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $852.99, for a total transaction of $1,225,746.63. Following the sale, the vice president owned 2,714 shares of the company’s stock, valued at approximately $2,315,014.86. The trade was a 34.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 7,432 shares of company stock worth $6,484,116. Insiders own 0.32% of the company’s stock.

Parker-Hannifin Company Profile

Parker-Hannifin Corporation (NYSE: PH) is a global manufacturer and provider of motion and control technologies and systems. The company designs, manufactures and services a broad range of engineered components and systems used to control the movement and flow of liquids, gases and hydraulic power. Its product portfolio is applied across demanding environments and includes solutions for industrial manufacturing, aerospace, mobile equipment and other engineered applications.

Parker-Hannifin’s product and service offerings span hydraulic and pneumatic components, fittings and fluid connectors, valves, pumps and motors, electromechanical actuators and motion-control systems, filtration and separation products, and seals and sealing systems.