570 Parker-Hannifin Corporation $PH Shares Sold by Cyndeo Wealth Partners LLC

Cyndeo Wealth Partners LLC cut its holdings in Parker-Hannifin Corporation (NYSE:PH) by 12.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,903 shares of the industrial products company’s stock after selling 570 shares during the quarter. Cyndeo Wealth Partners LLC’s holdings in Parker-Hannifin were worth $3,729,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in PH. BlackRock Inc. acquired a new stake in shares of Parker-Hannifin during the second quarter worth about $10,163,362,000. State Street Corp grew its holdings in shares of Parker-Hannifin by 0.5% during the second quarter. State Street Corp now owns 9,385,389 shares of the industrial products company’s stock worth $9,180,037,000 after buying an additional 42,548 shares during the last quarter. Bank of America Corp DE purchased a new position in shares of Parker-Hannifin during the second quarter worth about $3,273,507,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Parker-Hannifin by 2.5% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,032,942 shares of the industrial products company’s stock valued at $1,010,341,000 after acquiring an additional 25,167 shares during the period. Finally, Deutsche Bank AG acquired a new position in Parker-Hannifin in the 2nd quarter valued at about $987,587,000. 82.44% of the stock is owned by hedge funds and other institutional investors.

Parker-Hannifin Stock Up 0.2%

Shares of NYSE:PH opened at $963.35 on Friday. The company has a market cap of $121.49 billion, a price-to-earnings ratio of 33.81, a PEG ratio of 2.69 and a beta of 1.12. The firm’s 50-day simple moving average is $980.15 and its 200-day simple moving average is $949.99. The company has a quick ratio of 0.74, a current ratio of 1.26 and a debt-to-equity ratio of 0.44. Parker-Hannifin Corporation has a fifty-two week low of $722.12 and a fifty-two week high of $1,099.94.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings results on Thursday, August 6th. The industrial products company reported $9.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.31 by $0.96. The business had revenue of $5.75 billion for the quarter, compared to analyst estimates of $5.57 billion. Parker-Hannifin had a net margin of 16.97% and a return on equity of 28.48%. The business’s revenue was up 9.8% compared to the same quarter last year. During the same period in the previous year, the business posted $7.69 earnings per share. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. As a group, equities research analysts predict that Parker-Hannifin Corporation will post 35.56 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

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

Insider Activity

In related news, VP Berend Bracht sold 602 shares of Parker-Hannifin stock in a transaction that occurred 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 sale, the vice president directly owned 4,399 shares in the company, valued at $4,577,027.53. The trade was a 12.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.35% of the company’s stock.

Analysts Set New Price Targets

PH has been the subject of several analyst reports. Mizuho set a $1,200.00 price objective on Parker-Hannifin in a research note on Thursday. Wells Fargo & Company began coverage on Parker-Hannifin in a research note on Thursday, September 24th. They issued an “equal weight” rating and a $1,050.00 target price on the stock. Raymond James Financial lifted their target price on Parker-Hannifin from $1,050.00 to $1,250.00 and gave the company an “outperform” rating in a research note on Monday, August 10th. UBS Group set a $950.00 target price on Parker-Hannifin in a report on Wednesday. Finally, Robert W. Baird upped their price target on Parker-Hannifin from $1,050.00 to $1,275.00 in a research note on Friday, August 7th. Eighteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, Parker-Hannifin presently has an average rating of “Moderate Buy” and a consensus target price of $1,149.52.

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.