Huntington National Bank Raises Stock Holdings in Parker-Hannifin Corporation $PH

Huntington National Bank raised its position in Parker-Hannifin Corporation (NYSE:PH) by 7.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 165,132 shares of the industrial products company’s stock after buying an additional 12,049 shares during the quarter. Huntington National Bank’s holdings in Parker-Hannifin were worth $115,340,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wealth Preservation Advisors LLC purchased a new stake in Parker-Hannifin in the first quarter valued at approximately $27,000. Saudi Central Bank purchased a new stake in shares of Parker-Hannifin during the first quarter worth approximately $31,000. Interchange Capital Partners LLC purchased a new stake in shares of Parker-Hannifin during the second quarter worth approximately $31,000. Chilton Capital Management LLC raised its stake in shares of Parker-Hannifin by 1,500.0% during the first quarter. Chilton Capital Management LLC now owns 64 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 60 shares during the last quarter. Finally, Accent Capital Management LLC purchased a new stake in shares of Parker-Hannifin during the first quarter worth approximately $41,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Stock Down 0.2%

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

Parker-Hannifin (NYSE:PH) last posted its earnings results on Thursday, August 7th. The industrial products company reported $7.69 earnings per share 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 analyst estimates of $5.10 billion. Parker-Hannifin had a return on equity of 26.80% and a net margin of 17.79%.Parker-Hannifin’s revenue was up 1.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $6.77 earnings per share. Parker-Hannifin has set its FY 2026 guidance at 28.400-29.400 EPS. Analysts predict that Parker-Hannifin Corporation will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Investors of record on Friday, November 7th will be paid a dividend of $1.80 per share. The ex-dividend date of this dividend is Friday, November 7th. This represents a $7.20 dividend on an annualized basis and a dividend yield of 0.9%. Parker-Hannifin’s dividend payout ratio (DPR) is presently 26.55%.

Insider Buying and Selling at Parker-Hannifin

In related news, VP Matthew A. Jacobson sold 575 shares of the stock in a transaction on Friday, August 8th. The stock was sold at an average price of $733.06, for a total transaction of $421,509.50. Following the sale, the vice president owned 1,000 shares of the company’s stock, valued at $733,060. This trade represents a 36.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Andrew D. Ross sold 4,361 shares of the stock in a transaction on Friday, August 8th. The shares were sold at an average price of $732.66, for a total value of $3,195,130.26. Following the sale, the chief operating officer directly owned 13,120 shares in the company, valued at approximately $9,612,499.20. The trade was a 24.95% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 14,039 shares of company stock valued at $10,356,566. 0.32% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PH. Cowen restated a “hold” rating on shares of Parker-Hannifin in a research note on Friday, August 29th. Wall Street Zen raised Parker-Hannifin from a “hold” rating to a “buy” rating in a report on Saturday, September 20th. KeyCorp upped their price objective on Parker-Hannifin from $810.00 to $825.00 and gave the stock an “overweight” rating in a report on Tuesday, October 14th. Evercore ISI reaffirmed an “outperform” rating on shares of Parker-Hannifin in a report on Tuesday, August 19th. Finally, 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. Thirteen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, Parker-Hannifin presently has an average rating of “Moderate Buy” and a consensus price target 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.