Parker-Hannifin Corporation $PH Stock Sold by King Luther Capital Management Corp

King Luther Capital Management Corp reduced its stake in shares of Parker-Hannifin Corporation (NYSE:PH) by 2.3% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 119,411 shares of the industrial products company’s stock after selling 2,804 shares during the period. King Luther Capital Management Corp’s holdings in Parker-Hannifin were worth $114,088,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Banyan Capital Management Inc. bought a new position in Parker-Hannifin in the third quarter valued at approximately $12,153,000. Maryland State Retirement & Pension System boosted its holdings in shares of Parker-Hannifin by 14.1% in the third quarter. Maryland State Retirement & Pension System now owns 7,727 shares of the industrial products company’s stock valued at $7,383,000 after buying an additional 956 shares during the period. Ritholtz Wealth Management increased its position in shares of Parker-Hannifin by 6.8% during the third quarter. Ritholtz Wealth Management now owns 3,705 shares of the industrial products company’s stock worth $3,540,000 after acquiring an additional 236 shares in the last quarter. UNIVEST FINANCIAL Corp increased its position in shares of Parker-Hannifin by 100.1% during the third quarter. UNIVEST FINANCIAL Corp now owns 12,726 shares of the industrial products company’s stock worth $12,159,000 after acquiring an additional 6,367 shares in the last quarter. Finally, Granville Capital Inc. increased its position in shares of Parker-Hannifin by 6.9% during the third quarter. Granville Capital Inc. now owns 402 shares of the industrial products company’s stock worth $384,000 after acquiring an additional 26 shares in the last quarter. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Parker-Hannifin Trading Up 0.8%

NYSE:PH opened at $972.53 on Thursday. Parker-Hannifin Corporation has a twelve month low of $806.22 and a twelve month high of $1,099.94. The company has a quick ratio of 0.55, a current ratio of 0.94 and a debt-to-equity ratio of 0.79. The business has a 50 day moving average price of $945.68 and a two-hundred day moving average price of $949.65. The company has a market cap of $122.64 billion, a P/E ratio of 33.40, a price-to-earnings-growth ratio of 2.28 and a beta of 1.15.

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

Parker-Hannifin Dividend Announcement

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

Insiders Place Their Bets

In related news, VP Berend Bracht sold 602 shares of the firm’s stock in a transaction on Wednesday, August 26th. The shares were 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 trade represents a 12.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.35% of the company’s stock.

Analyst Ratings Changes

PH has been the topic of a number of research analyst reports. UBS Group set a $950.00 price objective on shares of Parker-Hannifin in a report on Wednesday, October 14th. Robert W. Baird upped their target price on shares of Parker-Hannifin from $1,050.00 to $1,275.00 in a research note on Friday, August 7th. Evercore increased their target price on Parker-Hannifin from $1,064.00 to $1,217.00 and gave the stock an “outperform” rating in a report on Tuesday, August 11th. Sanford C. Bernstein reissued an “outperform” rating on shares of Parker-Hannifin in a research note on Monday. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Parker-Hannifin in a research note on Thursday, October 15th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Parker-Hannifin has an average rating of “Moderate Buy” and a consensus 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.