Parker-Hannifin Corporation $PH Shares Sold by Congress Asset Management Co.

Congress Asset Management Co. lessened its holdings in shares of Parker-Hannifin Corporation (NYSE:PH) by 4.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 146,145 shares of the industrial products company’s stock after selling 6,717 shares during the quarter. Parker-Hannifin accounts for approximately 0.9% of Congress Asset Management Co.’s portfolio, making the stock its 24th largest position. Congress Asset Management Co.’s holdings in Parker-Hannifin were worth $139,629,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Polaris Financial Partners bought a new position in shares of Parker-Hannifin in the third quarter valued at $26,000. Archer Investment Corp bought a new stake in shares of Parker-Hannifin during the second quarter worth about $28,000. NFSG Corp increased its position in shares of Parker-Hannifin by 94.4% during the first quarter. NFSG Corp now owns 35 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 17 shares in the last quarter. Bell Investment Advisors Inc acquired a new stake in shares of Parker-Hannifin in the 2nd quarter worth about $35,000. Finally, Brown Lisle Cummings Inc. raised its holdings in shares of Parker-Hannifin by 76.0% in the 1st quarter. Brown Lisle Cummings Inc. now owns 44 shares of the industrial products company’s stock worth $39,000 after acquiring an additional 19 shares during the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on PH shares. BMO Capital Markets reiterated an “outperform” rating and set a $1,214.00 price target on shares of Parker-Hannifin in a research note on Friday, August 7th. Stifel Nicolaus set a $1,075.00 price objective on Parker-Hannifin in a research note on Friday, August 7th. Sanford C. Bernstein raised their target price on Parker-Hannifin from $1,037.00 to $1,218.00 and gave the company an “outperform” rating in a report on Friday, August 14th. BNP Paribas Exane reaffirmed an “outperform” rating and set a $1,220.00 target price (up from $1,090.00) on shares of Parker-Hannifin in a research report on Friday, August 7th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Parker-Hannifin in a report on Friday, July 17th. Sixteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $1,119.55.

Insiders Place Their Bets

In other Parker-Hannifin news, VP Berend Bracht sold 602 shares of the company’s 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 completion of the transaction, the vice president owned 4,399 shares in the company, valued at $4,577,027.53. This represents a 12.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.35% of the company’s stock.

Parker-Hannifin Stock Up 1.0%

PH stock traded up $9.48 during trading on Tuesday, reaching $985.16. The stock had a trading volume of 376,650 shares, compared to its average volume of 692,705. The company has a quick ratio of 0.74, a current ratio of 1.26 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $124.24 billion, a price-to-earnings ratio of 34.58, a P/E/G ratio of 2.98 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. The company’s 50 day moving average is $987.74 and its two-hundred day moving average is $946.86.

Parker-Hannifin (NYSE:PH) last posted its earnings results on Thursday, August 6th. The industrial products company reported $9.27 EPS for the quarter, topping the consensus estimate of $8.31 by $0.96. The firm had revenue of $5.75 billion for 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%. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter last year, the firm earned $7.69 EPS. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. Equities research analysts forecast that Parker-Hannifin Corporation will post 35.02 EPS for the current year.

Parker-Hannifin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 11th. Shareholders of record on Monday, August 31st were given a $2.00 dividend. The ex-dividend date of this dividend was Monday, August 31st. This represents a $8.00 annualized dividend and a yield of 0.8%. Parker-Hannifin’s payout ratio is currently 28.08%.

Parker-Hannifin Company Profile

Parker-Hannifin Corporation is a diversified manufacturer of motion and control technologies. The company develops and produces components and systems that manage the movement and control of liquids, gases and mechanical force across industrial, mobile and aerospace applications.

Its product portfolio includes hydraulic and pneumatic systems, electromechanical technologies, filtration and fluid-management equipment, seals and shielding products, connectors, pumps, valves, sensors, thermal-management solutions and related engineered systems.