Ferguson Wellman Capital Management Inc. Sells 7,287 Shares of Parker-Hannifin Corporation $PH

Ferguson Wellman Capital Management Inc. trimmed its position in shares of Parker-Hannifin Corporation (NYSE:PH) by 5.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 118,495 shares of the industrial products company’s stock after selling 7,287 shares during the period. Parker-Hannifin accounts for approximately 1.4% of Ferguson Wellman Capital Management Inc.’s portfolio, making the stock its 21st largest holding. Ferguson Wellman Capital Management Inc. owned 0.09% of Parker-Hannifin worth $115,902,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Archer Investment Corp bought a new position in shares of Parker-Hannifin during the second quarter valued at about $28,000. HFM Investment Advisors LLC boosted its position in Parker-Hannifin by 1,000.0% during the 4th quarter. HFM Investment Advisors LLC now owns 33 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 30 shares in the last quarter. Texas Capital Bancshares Inc TX purchased a new position in Parker-Hannifin during the 3rd quarter valued at about $25,000. Lloyd Advisory Services LLC. bought a new stake in Parker-Hannifin in the fourth quarter worth $31,000. Finally, NFSG Corp boosted its stake in Parker-Hannifin by 94.4% in the 1st quarter. NFSG Corp now owns 35 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 17 shares in the last quarter. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PH has been the topic of several recent analyst reports. KeyCorp increased their target price on Parker-Hannifin from $1,100.00 to $1,210.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. BMO Capital Markets reiterated an “outperform” rating and set a $1,214.00 price objective on shares of Parker-Hannifin in a research report on Friday, August 7th. Evercore set a $1,064.00 price objective on shares of Parker-Hannifin in a research note on Monday, May 11th. Weiss Ratings reiterated a “buy (b)” rating on shares of Parker-Hannifin in a research report on Friday, July 17th. Finally, Stifel Nicolaus set a $1,075.00 price target on shares of Parker-Hannifin in a report on Friday, August 7th. Seventeen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Parker-Hannifin presently has a consensus rating of “Moderate Buy” and an average target price of $1,100.00.

Parker-Hannifin Trading Down 1.6%

Shares of PH stock opened at $995.24 on Friday. The stock has a market capitalization of $125.45 billion, a price-to-earnings ratio of 34.93, a price-to-earnings-growth ratio of 2.63 and a beta of 1.12. Parker-Hannifin Corporation has a 12-month low of $715.37 and a 12-month high of $1,099.94. The stock’s 50-day moving average price is $991.71 and its 200-day moving average price is $950.48. The company has a current ratio of 1.26, a quick ratio of 0.74 and a debt-to-equity ratio of 0.44.

Parker-Hannifin (NYSE:PH) last posted its earnings results on Thursday, August 6th. The industrial products company reported $9.27 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $5.57 billion. During the same period last year, the firm posted $7.69 earnings per share. Parker-Hannifin’s revenue for the quarter was up 9.8% compared to the same quarter last year. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. Equities research analysts predict that Parker-Hannifin Corporation will post 34.93 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Monday, August 31st will be paid a $2.00 dividend. This represents a $8.00 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Monday, August 31st. Parker-Hannifin’s dividend payout ratio (DPR) is presently 28.08%.

Insider Buying and Selling

In other Parker-Hannifin news, VP Berend Bracht sold 602 shares of Parker-Hannifin stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $1,040.47, for a total transaction of $626,362.94. Following the completion of the transaction, the vice president directly owned 4,399 shares of the company’s stock, 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 hyperlink. 0.32% of the stock is owned by insiders.

About Parker-Hannifin

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.