Renasant Bank Trims Position in Parker-Hannifin Corporation $PH

Renasant Bank decreased its holdings in shares of Parker-Hannifin Corporation (NYSE:PH) by 9.5% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 571 shares of the industrial products company’s stock after selling 60 shares during the quarter. Renasant Bank’s holdings in Parker-Hannifin were worth $399,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in PH. Nuveen LLC acquired a new stake in Parker-Hannifin in the 1st quarter worth about $933,089,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Parker-Hannifin by 52.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,443,104 shares of the industrial products company’s stock worth $1,485,042,000 after acquiring an additional 842,262 shares during the period. Wellington Management Group LLP boosted its position in shares of Parker-Hannifin by 11.6% in the first quarter. Wellington Management Group LLP now owns 2,009,250 shares of the industrial products company’s stock worth $1,221,323,000 after acquiring an additional 208,573 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in Parker-Hannifin by 23.8% in the first quarter. Goldman Sachs Group Inc. now owns 996,738 shares of the industrial products company’s stock valued at $605,867,000 after purchasing an additional 191,799 shares during the period. Finally, Vanguard Group Inc. increased its position in 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 worth $6,700,795,000 after purchasing an additional 168,990 shares during the last quarter. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Parker-Hannifin Stock Performance

Parker-Hannifin stock opened at $858.11 on Wednesday. The firm has a market capitalization of $108.59 billion, a PE ratio of 31.64, a price-to-earnings-growth ratio of 3.21 and a beta of 1.37. Parker-Hannifin Corporation has a one year low of $488.45 and a one year high of $866.72. The stock’s 50 day moving average price is $762.26 and its 200 day moving average price is $717.96. 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 posted its quarterly earnings data on Thursday, November 6th. The industrial products company reported $7.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.62 by $0.60. Parker-Hannifin had a net margin of 17.79% and a return on equity of 26.80%. The company had revenue of $5.08 billion for the quarter, compared to analyst estimates of $4.94 billion. During the same quarter last year, the firm posted $6.20 earnings per share. The business’s quarterly revenue was up 3.7% on a year-over-year basis. Parker-Hannifin has set its FY 2026 guidance at 29.600-30.400 EPS. FY 2026 guidance at 29.600-30.400 EPS. As a group, sell-side analysts expect that Parker-Hannifin Corporation will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Shareholders of record on Friday, November 7th will be issued a $1.80 dividend. The ex-dividend date is Friday, November 7th. This represents a $7.20 dividend on an annualized basis and a yield of 0.8%. Parker-Hannifin’s payout ratio is currently 25.65%.

Insiders Place Their Bets

In other news, EVP Joseph R. Leonti sold 4,625 shares of the firm’s 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 sale, the executive vice president directly owned 13,878 shares in the company, valued at $10,420,157.52. This trade represents a 25.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.32% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Argus reiterated a “buy” rating and issued a $900.00 price target on shares of Parker-Hannifin in a report on Monday. Evercore ISI reiterated an “outperform” rating on shares of Parker-Hannifin in a report on Tuesday, August 19th. Wells Fargo & Company boosted their price target on Parker-Hannifin from $840.00 to $925.00 and gave the company an “overweight” rating in a research report on Friday, November 7th. Susquehanna restated a “positive” rating on shares of Parker-Hannifin in a report on Wednesday. Finally, Truist Financial reissued a “buy” rating and set a $977.00 target price (up previously from $910.00) on shares of Parker-Hannifin in a research report on Friday, November 7th. Thirteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $852.00.

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.