Parker-Hannifin Corporation $PH Stake Trimmed by Inspire Investing LLC

Inspire Investing LLC reduced its stake in shares of Parker-Hannifin Corporation (NYSE:PH) by 13.6% in the third quarter, Holdings Channel reports. The fund owned 21,815 shares of the industrial products company’s stock after selling 3,438 shares during the quarter. Parker-Hannifin accounts for about 0.9% of Inspire Investing LLC’s portfolio, making the stock its 12th largest position. Inspire Investing LLC’s holdings in Parker-Hannifin were worth $20,842,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. E Fund Management Co. Ltd. raised its holdings in shares of Parker-Hannifin by 2.1% in the 2nd quarter. E Fund Management Co. Ltd. now owns 477 shares of the industrial products company’s stock worth $467,000 after purchasing an additional 10 shares during the period. Optas LLC lifted its stake in Parker-Hannifin by 3.1% in the first quarter. Optas LLC now owns 370 shares of the industrial products company’s stock valued at $331,000 after purchasing an additional 11 shares during the last quarter. RFG Advisory LLC grew its holdings in Parker-Hannifin by 0.3% during the first quarter. RFG Advisory LLC now owns 3,740 shares of the industrial products company’s stock valued at $3,348,000 after purchasing an additional 12 shares during the period. Allen Capital Group LLC grew its holdings in Parker-Hannifin by 4.8% during the first quarter. Allen Capital Group LLC now owns 264 shares of the industrial products company’s stock valued at $236,000 after purchasing an additional 12 shares during the period. Finally, Doliver Advisors LP grew its holdings in Parker-Hannifin by 0.6% during the second quarter. Doliver Advisors LP now owns 2,011 shares of the industrial products company’s stock valued at $1,967,000 after purchasing an additional 12 shares during the period. 82.44% of the stock is owned by institutional investors.

Insider Buying and Selling at Parker-Hannifin

In related news, VP Berend Bracht sold 602 shares of the stock in a transaction on Wednesday, August 26th. The stock was 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 in the company, valued at approximately $4,577,027.53. This trade represents a 12.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.35% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on PH shares. Truist Financial boosted their target price on Parker-Hannifin from $1,269.00 to $1,358.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Sanford C. Bernstein increased their price target on Parker-Hannifin from $1,037.00 to $1,218.00 and gave the stock an “outperform” rating in a research note on Friday, August 14th. Jefferies Financial Group increased their price target on Parker-Hannifin from $1,100.00 to $1,275.00 in a research note on Friday, August 7th. Raymond James Financial lifted their price objective on Parker-Hannifin from $1,050.00 to $1,250.00 and gave the stock an “outperform” rating in a report on Monday, August 10th. Finally, KeyCorp boosted their price objective on Parker-Hannifin from $1,100.00 to $1,210.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Eighteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $1,146.35.

Parker-Hannifin Stock Performance

Shares of PH opened at $880.03 on Friday. Parker-Hannifin Corporation has a 52-week low of $755.10 and a 52-week high of $1,099.94. The stock has a market capitalization of $110.98 billion, a price-to-earnings ratio of 30.89, a price-to-earnings-growth ratio of 2.49 and a beta of 1.12. 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 stock’s 50-day simple moving average is $966.89 and its 200 day simple moving average is $951.03.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings data on Thursday, August 6th. The industrial products company reported $9.27 EPS for the quarter, beating the consensus estimate of $8.31 by $0.96. The company had revenue of $5.75 billion during the quarter, compared to analysts’ expectations of $5.57 billion. Parker-Hannifin had a net margin of 16.97% and a return on equity of 28.48%. Parker-Hannifin’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $7.69 earnings per share. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. Research analysts forecast that Parker-Hannifin Corporation will post 35.72 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 11th. Stockholders of record on Monday, August 31st were given a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Monday, August 31st. Parker-Hannifin’s payout ratio is 28.08%.

About Parker-Hannifin

Parker-Hannifin Corporation is a diversified manufacturer of motion and control technologies and systems. The company serves aerospace, industrial, and other specialized markets with products designed to control the movement and flow of liquids and gases, as well as mechanical motion and power.

Its product portfolio includes hydraulic and pneumatic systems, filtration and process-control equipment, electromechanical technologies, sealing and shielding products, connectors, pumps, valves, and related components.