Bank of New York Mellon Corp Has $541.81 Million Stake in Parker-Hannifin Corporation $PH

Bank of New York Mellon Corp decreased its holdings in Parker-Hannifin Corporation (NYSE:PH) by 6.2% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 775,709 shares of the industrial products company’s stock after selling 51,426 shares during the quarter. Bank of New York Mellon Corp’s holdings in Parker-Hannifin were worth $541,810,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of PH. Nuveen LLC acquired a new stake in Parker-Hannifin in the 1st quarter worth about $933,089,000. Price T Rowe Associates Inc. MD raised its stake in Parker-Hannifin by 52.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,443,104 shares of the industrial products company’s stock worth $1,485,042,000 after purchasing an additional 842,262 shares in the last quarter. Wellington Management Group LLP raised its stake in Parker-Hannifin by 11.6% in the 1st quarter. Wellington Management Group LLP now owns 2,009,250 shares of the industrial products company’s stock worth $1,221,323,000 after purchasing an additional 208,573 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Parker-Hannifin by 23.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 996,738 shares of the industrial products company’s stock worth $605,867,000 after purchasing an additional 191,799 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Parker-Hannifin by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 11,023,764 shares of the industrial products company’s stock valued at $6,700,795,000 after buying an additional 168,990 shares in the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Insider Buying and Selling at Parker-Hannifin

In other Parker-Hannifin news, VP Thomas C. Gentile sold 1,133 shares of the business’s stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $729.50, for a total transaction of $826,523.50. Following the sale, the vice president directly owned 5,465 shares of the company’s stock, valued at $3,986,717.50. The trade was a 17.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Robert W. Malone sold 2,257 shares of the business’s stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $730.66, for a total transaction of $1,649,099.62. Following the sale, the vice president directly owned 5,866 shares in the company, valued at $4,286,051.56. The trade was a 27.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 14,039 shares of company stock worth $10,356,566 over the last 90 days. 0.32% of the stock is owned by corporate insiders.

Parker-Hannifin Price Performance

PH stock opened at $771.18 on Tuesday. The company has a 50 day simple moving average of $755.17 and a 200 day simple moving average of $707.60. The stock has a market cap of $97.59 billion, a price-to-earnings ratio of 28.44, a P/E/G ratio of 3.21 and a beta of 1.35. Parker-Hannifin Corporation has a 1 year low of $488.45 and a 1 year high of $792.53. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.19 and a quick ratio of 0.71.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings data on Thursday, August 7th. The industrial products company reported $7.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.08 by $0.61. The business had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.10 billion. Parker-Hannifin had a net margin of 17.79% and a return on equity of 26.80%. The firm’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same period in the prior year, the company earned $6.77 EPS. Parker-Hannifin has set its FY 2026 guidance at 28.400-29.400 EPS. Research analysts anticipate that Parker-Hannifin Corporation will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Investors of record on Friday, November 7th will be given a dividend of $1.80 per share. This represents a $7.20 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Friday, November 7th. Parker-Hannifin’s dividend payout ratio is currently 26.55%.

Analyst Ratings Changes

Several brokerages have recently commented on PH. Weiss Ratings restated a “buy (b)” rating on shares of Parker-Hannifin in a research report on Wednesday, October 8th. Wall Street Zen upgraded shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Saturday, September 20th. Cowen restated a “hold” rating on shares of Parker-Hannifin in a research report on Friday, August 29th. Deutsche Bank Aktiengesellschaft cut shares of Parker-Hannifin from a “buy” rating to a “hold” rating and set a $809.00 target price for the company. in a research report on Thursday, September 4th. Finally, Truist Financial boosted their target price on shares of Parker-Hannifin from $822.00 to $910.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Thirteen investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $794.35.

About Parker-Hannifin

Parker-Hannifin Corporation manufactures and sells motion and control technologies and systems for various mobile, industrial, and aerospace markets worldwide. The company operates through two segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial segment offers sealing, shielding, thermal products and systems, adhesives, coatings, and noise vibration and harshness solutions; filters, systems, and diagnostics solutions to ensure purity and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors used in fluid and gas handling; and hydraulic, pneumatic, and electromechanical components and systems for builders and users of mobile and industrial machinery and equipment.