Connable Office Inc. Lowers Stock Holdings in Parker-Hannifin Corporation $PH

Connable Office Inc. trimmed its position in Parker-Hannifin Corporation (NYSE:PH) by 18.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,926 shares of the industrial products company’s stock after selling 653 shares during the quarter. Connable Office Inc.’s holdings in Parker-Hannifin were worth $2,572,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of PH. Texas Capital Bancshares Inc TX purchased a new stake in shares of Parker-Hannifin in the third quarter worth about $25,000. Chilton Capital Management LLC purchased a new stake in shares of Parker-Hannifin in the third quarter worth $29,000. Ameriflex Group Inc. raised its position in shares of Parker-Hannifin by 366.7% in the third quarter. Ameriflex Group Inc. now owns 42 shares of the industrial products company’s stock worth $32,000 after buying an additional 33 shares in the last quarter. Mowery & Schoenfeld Wealth Management LLC raised its position in shares of Parker-Hannifin by 80.0% in the fourth 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 in the last quarter. Finally, Morse Asset Management Inc raised its position in shares of Parker-Hannifin by 164.7% in the third quarter. Morse Asset Management Inc now owns 45 shares of the industrial products company’s stock worth $34,000 after buying an additional 28 shares in the last quarter. 82.44% of the stock is owned by hedge funds and other institutional investors.

Parker-Hannifin Stock Down 1.0%

Shares of NYSE PH opened at $878.24 on Friday. The company has a quick ratio of 0.66, a current ratio of 1.13 and a debt-to-equity ratio of 0.46. Parker-Hannifin Corporation has a 52 week low of $637.21 and a 52 week high of $1,034.96. The firm’s fifty day moving average is $940.31 and its 200 day moving average is $906.44. The company has a market cap of $110.85 billion, a price-to-earnings ratio of 32.40, a PEG ratio of 2.84 and a beta of 1.18.

Parker-Hannifin (NYSE:PH) last issued its earnings results on Thursday, April 30th. The industrial products company reported $8.17 EPS for the quarter, topping 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 company had revenue of $5.49 billion for the quarter, compared to the consensus estimate of $5.40 billion. During the same period in the previous year, the firm earned $6.94 earnings per share. The firm’s revenue for the quarter 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 research analysts expect that Parker-Hannifin Corporation will post 31.15 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. Investors of record on Friday, May 8th will be issued a dividend of $2.00 per share. The ex-dividend date is Friday, May 8th. This represents a $8.00 dividend on an annualized basis and a yield of 0.9%. This is a boost from Parker-Hannifin’s previous quarterly dividend of $1.80. Parker-Hannifin’s dividend payout ratio (DPR) is presently 26.56%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Morgan Stanley increased their price objective on Parker-Hannifin from $945.00 to $1,038.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 24th. Wall Street Zen upgraded Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Wednesday, February 4th. Jefferies Financial Group raised their target price on shares of Parker-Hannifin from $1,050.00 to $1,100.00 and gave the company a “buy” rating in a research note on Friday, January 30th. Citigroup raised their target price on shares of Parker-Hannifin from $1,137.00 to $1,141.00 and gave the company a “buy” rating in a research note on Friday, May 1st. Finally, Stifel Nicolaus raised their target price on shares of Parker-Hannifin from $965.00 to $1,000.00 and gave the company a “hold” rating in a research note on Friday, April 10th. Seventeen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $1,010.45.

Insider Transactions at Parker-Hannifin

In related news, CFO Todd M. Leombruno sold 2,062 shares of the business’s stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $1,002.34, for a total transaction of $2,066,825.08. Following the transaction, the chief financial officer owned 20,610 shares in the company, valued at $20,658,227.40. The trade was a 9.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Andrew D. Ross sold 4,664 shares of the business’s stock in a transaction on 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 in the company, valued at approximately $13,106,880. The trade was a 26.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.32% of the stock is owned by insiders.

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.