Parker-Hannifin Corporation $PH Shares Sold by Jackson Wealth Management LLC

Jackson Wealth Management LLC lessened its holdings in Parker-Hannifin Corporation (NYSE:PH) by 92.2% during the second quarter, HoldingsChannel.com reports. The fund owned 362 shares of the industrial products company’s stock after selling 4,261 shares during the quarter. Jackson Wealth Management LLC’s holdings in Parker-Hannifin were worth $354,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in PH. BlackRock Inc. purchased a new stake in shares of Parker-Hannifin in the second quarter worth about $10,163,362,000. Bank of America Corp DE purchased a new position in Parker-Hannifin in the 2nd quarter worth approximately $3,273,507,000. Norges Bank acquired a new position in shares of Parker-Hannifin during the fourth quarter worth $1,756,230,000. Deutsche Bank AG purchased a new stake in Parker-Hannifin during the 2nd quarter worth $987,587,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Parker-Hannifin during the second quarter valued at about $712,222,000. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Parker-Hannifin

In related news, VP Berend Bracht sold 602 shares of the stock in a transaction dated 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 sale, 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.32% of the company’s stock.

Parker-Hannifin Stock Down 1.5%

NYSE:PH opened at $979.89 on Tuesday. The company has a current ratio of 1.26, a quick ratio of 0.74 and a debt-to-equity ratio of 0.44. The stock has a 50 day moving average of $992.06 and a 200-day moving average of $950.21. The firm has a market capitalization of $123.52 billion, a PE ratio of 34.39, a price-to-earnings-growth ratio of 2.59 and a beta of 1.12. Parker-Hannifin Corporation has a 52 week low of $715.37 and a 52 week high of $1,099.94.

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

Parker-Hannifin Dividend Announcement

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

Analyst Ratings Changes

PH has been the topic of a number of recent analyst reports. Sanford C. Bernstein upped their target price on Parker-Hannifin from $1,037.00 to $1,218.00 and gave the company an “outperform” rating in a research report on Friday, August 14th. Wells Fargo & Company decreased their price objective on shares of Parker-Hannifin from $980.00 to $950.00 and set an “overweight” rating for the company in a report on Tuesday, May 26th. BNP Paribas Exane restated an “outperform” rating and issued a $1,220.00 target price (up from $1,090.00) on shares of Parker-Hannifin in a research note on Friday, August 7th. Wall Street Zen downgraded Parker-Hannifin from a “buy” rating to a “hold” rating in a research note on Saturday, August 22nd. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Parker-Hannifin in a research note on Friday, July 17th. Seventeen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $1,100.00.

Parker-Hannifin 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.