First Citizens Bank & Trust Co. Sells 29 Shares of Parker-Hannifin Corporation $PH

First Citizens Bank & Trust Co. decreased its holdings in Parker-Hannifin Corporation (NYSE:PH) by 4.4% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 626 shares of the industrial products company’s stock after selling 29 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Parker-Hannifin were worth $437,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Cornerstone Advisory LLC bought a new position in Parker-Hannifin in the 2nd quarter valued at $213,000. Strategic Blueprint LLC increased its stake in shares of Parker-Hannifin by 4.0% in the 2nd quarter. Strategic Blueprint LLC now owns 1,333 shares of the industrial products company’s stock valued at $931,000 after buying an additional 51 shares during the period. Principle Wealth Partners LLC increased its stake in shares of Parker-Hannifin by 9.6% in the 2nd quarter. Principle Wealth Partners LLC now owns 3,162 shares of the industrial products company’s stock valued at $2,209,000 after buying an additional 278 shares during the period. Ethic Inc. increased its stake in shares of Parker-Hannifin by 2.6% in the 2nd quarter. Ethic Inc. now owns 12,453 shares of the industrial products company’s stock valued at $8,724,000 after buying an additional 317 shares during the period. Finally, Meadow Creek Wealth Advisors LLC increased its stake in shares of Parker-Hannifin by 3.6% in the 2nd quarter. Meadow Creek Wealth Advisors LLC now owns 430 shares of the industrial products company’s stock valued at $300,000 after buying an additional 15 shares during the period. Institutional investors own 82.44% of the company’s stock.

Insider Buying and Selling at Parker-Hannifin

In related news, EVP Joseph R. Leonti sold 4,625 shares of the stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $750.84, for a total transaction of $3,472,635.00. Following the completion of the transaction, the executive vice president directly owned 13,878 shares in the company, valued at approximately $10,420,157.52. This trade represents a 25.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Andrew D. Ross sold 4,361 shares of the stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $732.66, for a total value of $3,195,130.26. Following the transaction, the chief operating officer owned 13,120 shares of the company’s stock, valued at approximately $9,612,499.20. The trade was a 24.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 14,039 shares of company stock valued at $10,356,566 in the last 90 days. 0.32% of the stock is currently owned by corporate insiders.

Parker-Hannifin Stock Up 0.9%

NYSE:PH opened at $772.86 on Monday. Parker-Hannifin Corporation has a 1 year low of $488.45 and a 1 year high of $779.77. The company has a current ratio of 1.19, a quick ratio of 0.71 and a debt-to-equity ratio of 0.55. The stock has a market cap of $97.80 billion, a price-to-earnings ratio of 28.50, a PEG ratio of 3.19 and a beta of 1.35. The stock has a 50-day moving average price of $751.64 and a two-hundred day moving average price of $698.08.

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

Parker-Hannifin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Friday, November 7th will be given a dividend of $1.80 per share. This represents a $7.20 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, November 7th. Parker-Hannifin’s dividend payout ratio is currently 26.55%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on PH shares. Wells Fargo & Company lifted their target price on Parker-Hannifin from $800.00 to $840.00 and gave the company an “overweight” rating in a research note on Monday, October 6th. Mizuho lifted their target price on Parker-Hannifin from $800.00 to $825.00 and gave the company an “outperform” rating in a research note on Friday, October 17th. Stifel Nicolaus lowered their target price on Parker-Hannifin from $726.00 to $723.00 and set a “hold” rating for the company in a research note on Monday, October 20th. Barclays lifted their target price on Parker-Hannifin from $776.00 to $785.00 and gave the company an “overweight” rating in a research note on Wednesday, October 1st. Finally, KeyCorp lifted their price objective on Parker-Hannifin from $810.00 to $825.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 14th. Fourteen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $789.67.

About Parker-Hannifin

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.