Parker-Hannifin Corporation $PH Shares Sold by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. decreased its position in Parker-Hannifin Corporation (NYSE:PH) by 1.9% during the 2nd quarter, Holdings Channel reports. The fund owned 125,644 shares of the industrial products company’s stock after selling 2,483 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Parker-Hannifin were worth $122,895,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Brighton Jones LLC raised its holdings in Parker-Hannifin by 5.9% during the fourth quarter. Brighton Jones LLC now owns 1,808 shares of the industrial products company’s stock worth $1,150,000 after purchasing an additional 101 shares in the last quarter. Bison Wealth LLC increased its position in Parker-Hannifin by 4.5% during the 4th quarter. Bison Wealth LLC now owns 749 shares of the industrial products company’s stock worth $476,000 after purchasing an additional 32 shares during the period. Empowered Funds LLC raised its stake in shares of Parker-Hannifin by 0.5% during the 1st quarter. Empowered Funds LLC now owns 2,894 shares of the industrial products company’s stock worth $1,759,000 after buying an additional 15 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in shares of Parker-Hannifin by 26.2% in the 1st quarter. Acadian Asset Management LLC now owns 799 shares of the industrial products company’s stock valued at $484,000 after buying an additional 166 shares during the period. Finally, Sivia Capital Partners LLC lifted its holdings in shares of Parker-Hannifin by 3.6% in the 2nd quarter. Sivia Capital Partners 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. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Parker-Hannifin Price Performance

Shares of NYSE:PH opened at $995.24 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.74 and a current ratio of 1.26. The business’s fifty day moving average price is $991.71 and its two-hundred day moving average price is $950.48. The stock has a market cap of $125.45 billion, a PE ratio of 34.93, a price-to-earnings-growth ratio of 2.63 and a beta of 1.12. Parker-Hannifin Corporation has a one year low of $715.37 and a one year high of $1,099.94.

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

Parker-Hannifin Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Sanford C. Bernstein boosted their target price on shares of Parker-Hannifin from $1,037.00 to $1,218.00 and gave the stock an “outperform” rating in a research report on Friday, August 14th. Stifel Nicolaus set a $1,075.00 target price on shares of Parker-Hannifin in a report on Friday, August 7th. BMO Capital Markets reiterated an “outperform” rating and set a $1,214.00 price target on shares of Parker-Hannifin in a research report on Friday, August 7th. UBS Group upped their price target on Parker-Hannifin from $1,092.00 to $1,250.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Finally, KeyCorp lifted their price objective on Parker-Hannifin from $1,100.00 to $1,210.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Seventeen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $1,100.00.

Insiders Place Their Bets

In other Parker-Hannifin news, VP Berend Bracht sold 602 shares of the company’s 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 transaction, the vice president directly owned 4,399 shares in the company, valued at approximately $4,577,027.53. This represents a 12.04% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.32% of the company’s stock.

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.