Parker-Hannifin Corporation $PH Stock Sold by Fifth Third Bancorp

Fifth Third Bancorp cut its position in shares of Parker-Hannifin Corporation (NYSE:PH) by 2.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 177,850 shares of the industrial products company’s stock after selling 5,163 shares during the quarter. Fifth Third Bancorp’s holdings in Parker-Hannifin were worth $169,921,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. E Fund Management Co. Ltd. lifted its stake in Parker-Hannifin by 2.1% in the second quarter. E Fund Management Co. Ltd. now owns 477 shares of the industrial products company’s stock worth $467,000 after purchasing an additional 10 shares during the last quarter. Allen Capital Group LLC lifted its position 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 purchasing an additional 12 shares during the last quarter. Doliver Advisors LP boosted its stake in shares of Parker-Hannifin by 0.6% during the second quarter. Doliver Advisors LP now owns 2,011 shares of the industrial products company’s stock valued at $1,967,000 after purchasing an additional 12 shares during the period. Bullock Wealth Management Group boosted its stake in shares of Parker-Hannifin by 1.6% during the third quarter. Bullock Wealth Management Group now owns 754 shares of the industrial products company’s stock valued at $728,000 after purchasing an additional 12 shares during the period. Finally, Wedbush Securities Inc. increased its stake in shares of Parker-Hannifin by 0.8% in the third quarter. Wedbush Securities Inc. now owns 1,510 shares of the industrial products company’s stock worth $1,442,000 after buying an additional 12 shares during the period. 82.44% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PH has been the subject of several recent analyst reports. Citigroup upped their price objective on shares of Parker-Hannifin from $1,232.00 to $1,234.00 and gave the company a “buy” rating in a research note on Monday, October 12th. The Goldman Sachs Group increased their target price on shares of Parker-Hannifin from $1,071.00 to $1,165.00 and gave the stock a “buy” rating in a report on Friday, August 7th. BNP Paribas Exane raised their target price on Parker-Hannifin from $1,220.00 to $1,270.00 and gave the stock an “outperform” rating in a research note on Friday, September 18th. Truist Financial upped their price target on Parker-Hannifin from $1,269.00 to $1,358.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Finally, Stifel Nicolaus set a $1,002.00 price objective on Parker-Hannifin in a report on Monday, October 19th. Eighteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, Parker-Hannifin has an average rating of “Moderate Buy” and a consensus price target of $1,146.35.

Insider Buying and Selling at Parker-Hannifin

In related news, VP Berend Bracht sold 602 shares of the firm’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 completion of the transaction, the vice president owned 4,399 shares of the company’s stock, valued at $4,577,027.53. This trade represents a 12.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.35% of the company’s stock.

Parker-Hannifin Stock Performance

Shares of Parker-Hannifin stock opened at $972.53 on Thursday. The company has a current ratio of 0.94, a quick ratio of 0.55 and a debt-to-equity ratio of 0.79. The firm has a market capitalization of $122.64 billion, a P/E ratio of 33.40, a P/E/G ratio of 2.28 and a beta of 1.15. The business has a fifty day simple moving average of $945.68 and a two-hundred day simple moving average of $949.65. Parker-Hannifin Corporation has a 12 month low of $806.22 and a 12 month high of $1,099.94.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, November 5th. The industrial products company reported $8.90 earnings per share for the quarter, topping analysts’ consensus estimates of $8.21 by $0.69. Parker-Hannifin had a net margin of 16.62% and a return on equity of 28.80%. The firm had revenue of $5.99 billion for the quarter, compared to the consensus estimate of $5.81 billion. During the same period in the prior year, the firm earned $7.22 EPS. The company’s revenue was up 17.9% compared to the same quarter last year. Parker-Hannifin has set its FY 2027 guidance at 36.450-37.250 EPS. On average, equities analysts forecast that Parker-Hannifin Corporation will post 37.07 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 4th. Shareholders of record on Friday, November 13th will be issued a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Friday, November 13th. Parker-Hannifin’s dividend payout ratio is 27.47%.

Parker-Hannifin 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.