Northwestern Mutual Wealth Management Co. Reduces Stock Holdings in Parker-Hannifin Corporation $PH

Northwestern Mutual Wealth Management Co. trimmed its position in shares of Parker-Hannifin Corporation (NYSE:PH) by 4.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 77,289 shares of the industrial products company’s stock after selling 3,865 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Parker-Hannifin were worth $75,599,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Fideuram Asset Management Ireland dac purchased a new stake in Parker-Hannifin during the 4th quarter worth about $1,253,000. BNP Paribas grew its holdings in Parker-Hannifin by 4.1% during the 2nd quarter. BNP Paribas now owns 54,208 shares of the industrial products company’s stock valued at $52,717,000 after buying an additional 2,121 shares in the last quarter. Shepherd Street Advisors LLC bought a new stake in shares of Parker-Hannifin during the fourth quarter valued at about $1,736,000. Jefferies Financial Group Inc. bought a new stake in shares of Parker-Hannifin during the fourth quarter valued at about $11,434,000. Finally, NewEdge Wealth LLC lifted its holdings in shares of Parker-Hannifin by 20.9% in the fourth quarter. NewEdge Wealth LLC now owns 13,710 shares of the industrial products company’s stock worth $12,051,000 after buying an additional 2,372 shares in the last quarter. 82.44% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on PH. BMO Capital Markets reaffirmed an “outperform” rating and set a $1,214.00 price objective on shares of Parker-Hannifin in a research note on Friday, August 7th. KeyCorp increased their target price on shares of Parker-Hannifin from $1,100.00 to $1,210.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Citigroup raised their price target on shares of Parker-Hannifin from $1,141.00 to $1,232.00 and gave the company a “buy” rating in a report on Friday, August 7th. Wall Street Zen lowered shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a research report on Saturday, August 22nd. Finally, Wells Fargo & Company decreased their price target on shares of Parker-Hannifin from $980.00 to $950.00 and set an “overweight” rating on the stock in a report on Tuesday, May 26th. Seventeen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $1,100.00.

Parker-Hannifin Trading Down 2.9%

Shares of Parker-Hannifin stock opened at $950.80 on Wednesday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.26 and a quick ratio of 0.74. Parker-Hannifin Corporation has a 1 year low of $715.37 and a 1 year high of $1,099.94. The firm has a market cap of $119.85 billion, a PE ratio of 33.37, a PEG ratio of 2.55 and a beta of 1.13. The company has a 50 day simple moving average of $992.08 and a two-hundred day simple moving average of $949.89.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, August 6th. The industrial products company reported $9.27 earnings per share for the quarter, beating the consensus estimate of $8.31 by $0.96. Parker-Hannifin had a net margin of 16.97% and a return on equity of 28.48%. The firm had revenue of $5.75 billion for the quarter, compared to analysts’ expectations of $5.57 billion. During the same quarter last year, the company posted $7.69 EPS. The business’s quarterly revenue was up 9.8% on a year-over-year basis. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. Analysts expect that Parker-Hannifin Corporation will post 34.93 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Monday, August 31st will be paid a dividend of $2.00 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a $8.00 annualized dividend and a yield of 0.8%. Parker-Hannifin’s payout ratio is 28.08%.

Insider Transactions at Parker-Hannifin

In other news, VP Berend Bracht sold 602 shares of the company’s stock in a transaction dated 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 directly owned 4,399 shares in the company, valued at approximately $4,577,027.53. This represents a 12.04% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.32% of the stock is currently owned by company insiders.

Parker-Hannifin Company 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.