Wellington Management Group LLP Sells 597,631 Shares of Parker-Hannifin Corporation $PH

Wellington Management Group LLP trimmed its stake in shares of Parker-Hannifin Corporation (NYSE:PH) by 46.7% during the second quarter, HoldingsChannel reports. The fund owned 681,600 shares of the industrial products company’s stock after selling 597,631 shares during the period. Wellington Management Group LLP’s holdings in Parker-Hannifin were worth $666,687,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Texas Capital Bancshares Inc TX bought a new position in Parker-Hannifin during the 3rd quarter worth about $25,000. Archer Investment Corp bought a new stake in shares of Parker-Hannifin in the second quarter valued at about $28,000. HFM Investment Advisors LLC lifted its holdings in shares of Parker-Hannifin by 1,000.0% in the fourth quarter. HFM Investment Advisors LLC now owns 33 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 30 shares in the last quarter. Lloyd Advisory Services LLC. acquired a new position in shares of Parker-Hannifin during the fourth quarter worth about $31,000. Finally, NFSG Corp grew its holdings in shares of Parker-Hannifin by 94.4% during the first quarter. NFSG Corp now owns 35 shares of the industrial products company’s stock worth $31,000 after buying an additional 17 shares in the last quarter. 82.44% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Wall Street Zen lowered Parker-Hannifin from a “buy” rating to a “hold” rating in a research report on Saturday, August 22nd. Truist Financial lifted their price objective on shares of Parker-Hannifin from $1,269.00 to $1,358.00 and gave the company a “buy” rating in a report on Friday, August 7th. Susquehanna increased their target price on shares of Parker-Hannifin from $1,100.00 to $1,250.00 and gave the stock a “positive” rating in a report on Friday, August 7th. UBS Group lifted their price target on shares of Parker-Hannifin from $1,092.00 to $1,250.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Finally, Citigroup increased their price objective on shares of Parker-Hannifin from $1,141.00 to $1,232.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Seventeen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $1,100.00.

Insider Buying and Selling at Parker-Hannifin

In related news, VP Berend Bracht sold 602 shares of the business’s stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $1,040.47, for a total transaction of $626,362.94. Following the transaction, the vice president directly owned 4,399 shares of the company’s stock, valued at approximately $4,577,027.53. The trade was a 12.04% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.32% of the company’s stock.

Parker-Hannifin Stock Down 1.6%

Parker-Hannifin stock opened at $995.24 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.26 and a quick ratio of 0.74. The company’s 50-day moving average is $991.71 and its 200-day moving average is $950.48. The firm has a market capitalization of $125.45 billion, a PE ratio of 34.93, a P/E/G ratio of 2.59 and a beta of 1.12. Parker-Hannifin Corporation has a fifty-two week low of $715.37 and a fifty-two week high of $1,099.94.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings results on Thursday, August 6th. The industrial products company reported $9.27 EPS for the quarter, topping analysts’ consensus estimates of $8.31 by $0.96. The business had revenue of $5.75 billion during the quarter, compared to analysts’ expectations of $5.57 billion. Parker-Hannifin had a return on equity of 28.48% and a net margin of 16.97%.Parker-Hannifin’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the company posted $7.69 earnings per share. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. Sell-side analysts anticipate that Parker-Hannifin Corporation will post 34.93 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Monday, August 31st will be paid a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Monday, August 31st. Parker-Hannifin’s payout ratio is currently 28.08%.

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.