Bar Harbor Wealth Management Sells 15,565 Shares of Parker-Hannifin Corporation $PH

Bar Harbor Wealth Management cut its holdings in shares of Parker-Hannifin Corporation (NYSE:PH) by 70.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,384 shares of the industrial products company’s stock after selling 15,565 shares during the quarter. Bar Harbor Wealth Management’s holdings in Parker-Hannifin were worth $4,459,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in PH. Wealth Preservation Advisors LLC bought a new position in shares of Parker-Hannifin during the first quarter worth approximately $27,000. Saudi Central Bank bought a new position in shares of Parker-Hannifin during the first quarter worth approximately $31,000. Olde Wealth Management LLC bought a new position in shares of Parker-Hannifin during the first quarter worth approximately $35,000. Chilton Capital Management LLC increased its holdings in shares of Parker-Hannifin by 1,500.0% during the first quarter. Chilton Capital Management LLC now owns 64 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 60 shares during the period. Finally, Accent Capital Management LLC acquired a new stake in shares of Parker-Hannifin during the 1st quarter worth approximately $41,000. 82.44% of the stock is owned by institutional investors.

Insider Buying and Selling at Parker-Hannifin

In other Parker-Hannifin news, EVP Joseph R. Leonti sold 4,625 shares of Parker-Hannifin stock in a transaction on Monday, August 25th. The shares were sold at an average price of $750.84, for a total value of $3,472,635.00. Following the completion of the sale, the executive vice president directly owned 13,878 shares of the company’s stock, valued at approximately $10,420,157.52. The trade was a 25.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Angela R. Ives sold 810 shares of Parker-Hannifin stock in a transaction on Friday, August 8th. The shares were sold at an average price of $727.36, for a total transaction of $589,161.60. Following the completion of the sale, the vice president directly owned 2,798 shares of the company’s stock, valued at approximately $2,035,153.28. This trade represents a 22.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 14,039 shares of company stock valued at $10,356,566 over the last three months. 0.32% of the stock is currently owned by corporate insiders.

Parker-Hannifin Stock Performance

Shares of Parker-Hannifin stock opened at $753.71 on Thursday. The company’s 50 day moving average price is $748.74 and its two-hundred day moving average price is $684.04. The firm has a market capitalization of $95.37 billion, a P/E ratio of 27.79, a P/E/G ratio of 3.11 and a beta of 1.35. Parker-Hannifin Corporation has a fifty-two week low of $488.45 and a fifty-two week high of $779.77. 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 results on Thursday, August 7th. The industrial products company reported $7.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.08 by $0.61. The firm had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.10 billion. Parker-Hannifin had a net margin of 17.79% and a return on equity of 26.80%. The company’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter last year, the firm earned $6.77 earnings per share. Parker-Hannifin has set its FY 2026 guidance at 28.400-29.400 EPS. On average, equities analysts forecast that Parker-Hannifin Corporation will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Tuesday, September 2nd were paid a dividend of $1.80 per share. This represents a $7.20 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend was Tuesday, September 2nd. Parker-Hannifin’s dividend payout ratio (DPR) is currently 26.55%.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Morgan Stanley increased their price target on shares of Parker-Hannifin from $700.00 to $725.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 9th. KeyCorp increased their price target on shares of Parker-Hannifin from $790.00 to $810.00 and gave the stock an “overweight” rating in a research report on Friday, August 8th. Citigroup reiterated a “buy” rating and set a $831.00 price target (up previously from $709.00) on shares of Parker-Hannifin in a research report on Monday, July 14th. Cowen reiterated a “hold” rating on shares of Parker-Hannifin in a research report on Friday, August 29th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Parker-Hannifin in a research report on Wednesday. Fourteen 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, Parker-Hannifin has a consensus rating of “Moderate Buy” and an average target price of $784.39.

Parker-Hannifin Profile

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.