4,870 Parker-Hannifin Corporation $PH Shares Sold by Keybank National Association OH

Keybank National Association OH reduced its position in shares of Parker-Hannifin Corporation (NYSE:PH) by 1.3% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 366,033 shares of the industrial products company’s stock after selling 4,870 shares during the quarter. Parker-Hannifin makes up about 1.1% of Keybank National Association OH’s holdings, making the stock its 19th biggest holding. Keybank National Association OH owned about 0.29% of Parker-Hannifin worth $349,715,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in shares of Parker-Hannifin in the second quarter valued at about $10,163,362,000. State Street Corp raised its stake 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 valued at $9,180,037,000 after acquiring an additional 42,548 shares during the last quarter. Bank of America Corp DE purchased a new stake 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 boosted its holdings in shares of Parker-Hannifin by 2.5% during the second 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 worth $1,010,341,000 after purchasing an additional 25,167 shares during the period. Finally, Deutsche Bank AG bought a new stake in shares of Parker-Hannifin in the second quarter worth about $987,587,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Insider Transactions at Parker-Hannifin

In other Parker-Hannifin news, VP Berend Bracht sold 602 shares of the business’s stock in a transaction 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 of the company’s stock, valued at approximately $4,577,027.53. The trade was a 12.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.35% of the company’s stock.

Wall Street Analysts Forecast Growth

PH has been the topic of a number of research analyst reports. Evercore boosted their price target on Parker-Hannifin from $1,064.00 to $1,217.00 and gave the company an “outperform” rating in a report on Tuesday, August 11th. Wells Fargo & Company started coverage on Parker-Hannifin in a research report on Thursday, September 24th. They set an “equal weight” rating and a $1,050.00 price target for the company. KeyCorp increased their price objective on Parker-Hannifin from $1,100.00 to $1,210.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Jefferies Financial Group lifted their price objective on Parker-Hannifin from $1,100.00 to $1,275.00 in a research report on Friday, August 7th. Finally, The Goldman Sachs Group boosted their target price on Parker-Hannifin from $1,071.00 to $1,165.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Eighteen research analysts have rated the stock with a Buy rating and five 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 price target of $1,146.35.

Parker-Hannifin Price Performance

PH stock opened at $964.17 on Wednesday. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.94 and a quick ratio of 0.55. Parker-Hannifin Corporation has a 1 year low of $806.22 and a 1 year high of $1,099.94. The firm has a 50-day moving average of $945.24 and a 200 day moving average of $949.42. The company has a market cap of $121.59 billion, a P/E ratio of 33.11, a PEG ratio of 2.26 and a beta of 1.15.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings results on Thursday, November 5th. The industrial products company reported $8.90 earnings per share for the quarter, beating the consensus estimate of $8.21 by $0.69. Parker-Hannifin had a return on equity of 28.80% and a net margin of 16.62%. The company had revenue of $5.99 billion for the quarter, compared to analyst estimates of $5.81 billion. During the same period in the previous year, the company posted $7.22 earnings per share. The firm’s revenue was up 17.9% on a year-over-year basis. Parker-Hannifin has set its FY 2027 guidance at 36.450-37.250 EPS. On average, sell-side analysts forecast that Parker-Hannifin Corporation will post 37.04 EPS for the current year.

Parker-Hannifin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 4th. Investors of record on Friday, November 13th will be given 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 is Friday, November 13th. Parker-Hannifin’s dividend payout ratio (DPR) is 27.47%.

About Parker-Hannifin

Parker-Hannifin is a global manufacturer of motion and control technologies. Its products include hydraulic and pneumatic systems, fluid connectors, filtration and sealing products, electromechanical components, and systems for aerospace and climate control applications. The company serves customers across industries such as aerospace, manufacturing, transportation, energy, and life sciences. Its operations span markets around the world, with businesses organized around industrial and aerospace products and services.