Agate Pass Investment Management LLC Cuts Stake in Parker-Hannifin Corporation $PH

Agate Pass Investment Management LLC reduced its position in Parker-Hannifin Corporation (NYSE:PH) by 10.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 943 shares of the industrial products company’s stock after selling 114 shares during the quarter. Agate Pass Investment Management LLC’s holdings in Parker-Hannifin were worth $659,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Parker-Hannifin by 1.6% during the first quarter. Vanguard Group Inc. now owns 11,023,764 shares of the industrial products company’s stock valued at $6,700,795,000 after buying an additional 168,990 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Parker-Hannifin by 52.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,443,104 shares of the industrial products company’s stock valued at $1,485,042,000 after buying an additional 842,262 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Parker-Hannifin by 11.6% during the first quarter. Wellington Management Group LLP now owns 2,009,250 shares of the industrial products company’s stock valued at $1,221,323,000 after buying an additional 208,573 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Parker-Hannifin by 0.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,594,347 shares of the industrial products company’s stock valued at $969,124,000 after buying an additional 11,815 shares during the last quarter. Finally, Nuveen LLC purchased a new stake in shares of Parker-Hannifin during the first quarter valued at $933,089,000. 82.44% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, VP Robert W. Malone sold 2,257 shares of the company’s stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $730.66, for a total transaction of $1,649,099.62. Following the completion of the transaction, the vice president owned 5,866 shares in the company, valued at $4,286,051.56. This represents a 27.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Angela R. Ives sold 810 shares of the company’s stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $727.36, for a total transaction of $589,161.60. Following the transaction, the vice president owned 2,798 shares of the company’s stock, valued at approximately $2,035,153.28. This trade represents a 22.45% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,039 shares of company stock valued at $10,356,566. Insiders own 0.32% of the company’s stock.

Parker-Hannifin Trading Down 3.0%

Shares of Parker-Hannifin stock opened at $716.31 on Friday. The firm has a 50-day simple moving average of $748.97 and a two-hundred day simple moving average of $685.15. The company has a market cap of $90.64 billion, a P/E ratio of 26.41, a price-to-earnings-growth ratio of 3.06 and a beta of 1.35. Parker-Hannifin Corporation has a fifty-two week low of $488.45 and a fifty-two week high of $779.77. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.71 and a current ratio of 1.19.

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

Parker-Hannifin Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Tuesday, September 2nd were given a $1.80 dividend. 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 dividend payout ratio is 26.55%.

Analyst Ratings Changes

PH has been the topic of a number of research analyst reports. Stifel Nicolaus boosted their price objective on shares of Parker-Hannifin from $717.00 to $726.00 and gave the company a “hold” rating in a report on Friday, August 8th. Weiss Ratings reissued a “buy (b)” rating on shares of Parker-Hannifin in a report on Wednesday. Truist Financial boosted their target price on shares of Parker-Hannifin from $822.00 to $910.00 and gave the company a “buy” rating in a research report on Wednesday. Citigroup boosted their target price on shares of Parker-Hannifin from $831.00 to $874.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Susquehanna initiated coverage on shares of Parker-Hannifin in a research report on Friday, August 15th. They set a “positive” rating and a $860.00 target price for the company. Fourteen investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, Parker-Hannifin currently has a consensus rating of “Moderate Buy” and a consensus price target of $786.78.

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.