Connable Office Inc. Invests $2.02 Million in Parker-Hannifin Corporation $PH

Connable Office Inc. acquired a new position in shares of Parker-Hannifin Corporation (NYSE:PH) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 2,896 shares of the industrial products company’s stock, valued at approximately $2,023,000.

Several other hedge funds have also modified their holdings of PH. Nuveen LLC purchased a new stake in shares of Parker-Hannifin during the 1st quarter worth approximately $933,089,000. Price T Rowe Associates Inc. MD raised 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 in the last quarter. Wellington Management Group LLP raised its holdings in shares of Parker-Hannifin by 11.6% during the 1st 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 in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Parker-Hannifin by 23.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 996,738 shares of the industrial products company’s stock worth $605,867,000 after acquiring an additional 191,799 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Parker-Hannifin by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 11,023,764 shares of the industrial products company’s stock worth $6,700,795,000 after acquiring an additional 168,990 shares in the last quarter. 82.44% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Parker-Hannifin news, VP Thomas C. Gentile sold 1,133 shares of the company’s stock in a transaction on Friday, August 8th. The stock was sold at an average price of $729.50, for a total value of $826,523.50. Following the transaction, the vice president owned 5,465 shares of the company’s stock, valued at $3,986,717.50. This represents a 17.17% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Robert W. Malone sold 2,257 shares of the company’s stock in a transaction on Friday, August 8th. The shares were sold at an average price of $730.66, for a total value of $1,649,099.62. Following the completion of the transaction, the vice president directly owned 5,866 shares in the company, valued at $4,286,051.56. This trade represents a 27.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 14,039 shares of company stock worth $10,356,566 over the last ninety days. Corporate insiders own 0.32% of the company’s stock.

Parker-Hannifin Stock Performance

Shares of Parker-Hannifin stock opened at $771.18 on Tuesday. The stock’s fifty day moving average is $755.17 and its two-hundred day moving average is $707.60. The company has a market capitalization of $97.59 billion, a PE ratio of 28.44, a price-to-earnings-growth ratio of 3.21 and a beta of 1.35. The company has a quick ratio of 0.71, a current ratio of 1.19 and a debt-to-equity ratio of 0.55. Parker-Hannifin Corporation has a 52 week low of $488.45 and a 52 week high of $792.53.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, August 7th. The industrial products company reported $7.69 EPS for the quarter, beating the consensus estimate of $7.08 by $0.61. The company had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.10 billion. Parker-Hannifin had a return on equity of 26.80% and a net margin of 17.79%.Parker-Hannifin’s quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $6.77 EPS. Parker-Hannifin has set its FY 2026 guidance at 28.400-29.400 EPS. As a group, analysts expect that Parker-Hannifin Corporation will post 26.71 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Shareholders of record on Friday, November 7th will be given a $1.80 dividend. This represents a $7.20 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Friday, November 7th. Parker-Hannifin’s dividend payout ratio is 26.55%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Morgan Stanley upped their price objective on Parker-Hannifin from $700.00 to $725.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 9th. Cowen reissued a “hold” rating on shares of Parker-Hannifin in a research report on Friday, August 29th. Weiss Ratings reissued a “buy (b)” rating on shares of Parker-Hannifin in a research report on Wednesday, October 8th. Wall Street Zen raised Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Saturday, September 20th. Finally, Mizuho boosted their target price on Parker-Hannifin from $800.00 to $825.00 and gave the company an “outperform” rating in a research report on Friday, October 17th. Thirteen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $794.35.

About Parker-Hannifin

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.