NewEdge Wealth LLC Grows Holdings in Parker-Hannifin Corporation $PH

NewEdge Wealth LLC increased its position in shares of Parker-Hannifin Corporation (NYSE:PH) by 20.9% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 13,710 shares of the industrial products company’s stock after buying an additional 2,372 shares during the period. NewEdge Wealth LLC’s holdings in Parker-Hannifin were worth $12,051,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PH. Texas Capital Bancshares Inc TX purchased a new stake in Parker-Hannifin during the 3rd quarter worth $25,000. Chilton Capital Management LLC purchased a new stake in Parker-Hannifin during the 3rd quarter worth $29,000. Ameriflex Group Inc. increased its stake in Parker-Hannifin by 366.7% during the 3rd quarter. Ameriflex Group Inc. now owns 42 shares of the industrial products company’s stock worth $32,000 after buying an additional 33 shares during the period. Mowery & Schoenfeld Wealth Management LLC increased its stake in Parker-Hannifin by 80.0% during the 4th quarter. Mowery & Schoenfeld Wealth Management LLC now owns 36 shares of the industrial products company’s stock worth $32,000 after buying an additional 16 shares during the period. Finally, Morse Asset Management Inc grew its holdings in Parker-Hannifin by 164.7% during the 3rd quarter. Morse Asset Management Inc now owns 45 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 28 shares in the last quarter. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Trading Down 0.1%

NYSE PH opened at $878.24 on Monday. Parker-Hannifin Corporation has a one year low of $637.21 and a one year high of $1,034.96. The company has a 50-day simple moving average of $940.31 and a 200-day simple moving average of $906.44. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.66 and a current ratio of 1.13. The firm has a market capitalization of $110.85 billion, a PE ratio of 32.40, a price-to-earnings-growth ratio of 2.81 and a beta of 1.18.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings results on Thursday, April 30th. The industrial products company reported $8.17 EPS for the quarter, beating the consensus estimate of $7.84 by $0.33. Parker-Hannifin had a net margin of 16.58% and a return on equity of 27.97%. The business had revenue of $5.49 billion during the quarter, compared to analyst estimates of $5.40 billion. During the same period in the previous year, the business posted $6.94 EPS. The company’s quarterly revenue was up 10.6% on a year-over-year basis. Parker-Hannifin has set its FY 2026 guidance at 31.200-31.200 EPS. On average, equities analysts forecast that Parker-Hannifin Corporation will post 31.18 earnings per share for the current year.

Parker-Hannifin Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 5th. Stockholders of record on Friday, May 8th will be issued a $2.00 dividend. This is a boost from Parker-Hannifin’s previous quarterly dividend of $1.80. The ex-dividend date of this dividend is Friday, May 8th. This represents a $8.00 annualized dividend and a dividend yield of 0.9%. Parker-Hannifin’s dividend payout ratio (DPR) is presently 29.51%.

Analysts Set New Price Targets

PH has been the subject of several recent analyst reports. iA Financial set a $1,032.00 price objective on shares of Parker-Hannifin in a report on Thursday, January 29th. JPMorgan Chase & Co. decreased their price objective on shares of Parker-Hannifin from $1,100.00 to $1,060.00 and set an “overweight” rating for the company in a report on Thursday. Wells Fargo & Company decreased their price objective on shares of Parker-Hannifin from $1,050.00 to $980.00 and set an “overweight” rating for the company in a report on Wednesday, April 1st. Citigroup raised their price objective on shares of Parker-Hannifin from $1,137.00 to $1,141.00 and gave the stock a “buy” rating in a report on Friday, May 1st. Finally, Stifel Nicolaus raised their price objective on shares of Parker-Hannifin from $965.00 to $1,000.00 and gave the stock a “hold” rating in a report on Friday, April 10th. Seventeen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $1,010.45.

Insider Activity

In other Parker-Hannifin news, CFO Todd M. Leombruno sold 2,062 shares of the business’s stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $1,002.34, for a total transaction of $2,066,825.08. Following the completion of the transaction, the chief financial officer directly owned 20,610 shares of the company’s stock, valued at $20,658,227.40. The trade was a 9.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Andrew D. Ross sold 4,664 shares of the business’s stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $999.00, for a total transaction of $4,659,336.00. Following the transaction, the chief operating officer directly owned 13,120 shares of the company’s stock, valued at $13,106,880. The trade was a 26.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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.