Parker-Hannifin Corporation $PH Stock: Thurston Springer Miller Herd & Titak Inc. Reduces Stake

Thurston Springer Miller Herd & Titak Inc. reduced its position in shares of Parker-Hannifin Corporation (NYSE:PH) by 63.8% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 402 shares of the industrial products company’s stock after selling 710 shares during the quarter. Thurston Springer Miller Herd & Titak Inc.’s holdings in Parker-Hannifin were worth $384,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. First Citizens Bank & Trust Co. boosted its position in shares of Parker-Hannifin by 146.6% in the 3rd quarter. First Citizens Bank & Trust Co. now owns 2,345 shares of the industrial products company’s stock worth $2,240,000 after purchasing an additional 1,394 shares during the last quarter. Focus Financial Network Inc. increased its holdings in Parker-Hannifin by 8.5% in the third quarter. Focus Financial Network Inc. now owns 953 shares of the industrial products company’s stock valued at $910,000 after purchasing an additional 75 shares during the last quarter. Salem Investment Counselors Inc. lifted its stake in Parker-Hannifin by 56.0% in the third quarter. Salem Investment Counselors Inc. now owns 234 shares of the industrial products company’s stock valued at $224,000 after buying an additional 84 shares during the period. Foster Group Inc. lifted its stake in Parker-Hannifin by 6.7% in the third quarter. Foster Group Inc. now owns 431 shares of the industrial products company’s stock valued at $412,000 after buying an additional 27 shares during the period. Finally, B. Riley Wealth Advisors Inc. boosted its holdings in Parker-Hannifin by 16.5% during the third quarter. B. Riley Wealth Advisors Inc. now owns 981 shares of the industrial products company’s stock worth $937,000 after buying an additional 139 shares during the last quarter. Institutional investors own 82.44% of the company’s stock.

Analyst Ratings Changes

PH has been the subject of a number of recent analyst reports. Mizuho upped their price target on Parker-Hannifin from $1,050.00 to $1,285.00 in a research note on Friday, August 7th. TD Cowen lifted their price objective on shares of Parker-Hannifin from $850.00 to $950.00 and gave the stock a “hold” rating in a research note on Wednesday. Evercore lifted their price objective on shares of Parker-Hannifin from $1,064.00 to $1,217.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 11th. BNP Paribas Exane boosted their price objective on shares of Parker-Hannifin from $1,220.00 to $1,270.00 and gave the company an “outperform” rating in a report on Friday, September 18th. Finally, Susquehanna upped their target price on shares of Parker-Hannifin from $1,100.00 to $1,250.00 and gave the company a “positive” rating in a research note on Friday, August 7th. Eighteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Parker-Hannifin presently has an average rating of “Moderate Buy” and an average target price of $1,153.22.

Parker-Hannifin Trading Up 0.7%

NYSE:PH traded up $6.64 on Wednesday, reaching $960.08. The company’s stock had a trading volume of 334,311 shares, compared to its average volume of 683,834. Parker-Hannifin Corporation has a 1-year low of $721.17 and a 1-year high of $1,099.94. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.74 and a current ratio of 1.26. The firm has a market cap of $121.08 billion, a PE ratio of 33.70, a PEG ratio of 2.71 and a beta of 1.12. The business’s 50-day moving average price is $985.38 and its two-hundred day moving average price is $948.97.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings results on Thursday, August 6th. The industrial products company reported $9.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.31 by $0.96. The company had revenue of $5.75 billion during the quarter, compared to the consensus estimate of $5.57 billion. Parker-Hannifin had a return on equity of 28.48% and a net margin of 16.97%. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the prior year, the company earned $7.69 earnings per share. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. Equities research analysts anticipate that Parker-Hannifin Corporation will post 35.14 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

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

Insider Transactions at Parker-Hannifin

In other Parker-Hannifin news, VP Berend Bracht sold 602 shares of the firm’s stock in a transaction that occurred 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 sale, the vice president directly owned 4,399 shares in the company, valued at approximately $4,577,027.53. This trade represents a 12.04% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.35% of the company’s stock.

About Parker-Hannifin

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.