NorthCrest Asset Manangement LLC Sells 19,524 Shares of Parker-Hannifin Corporation $PH

NorthCrest Asset Manangement LLC lowered its stake in shares of Parker-Hannifin Corporation (NYSE:PH) by 36.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 34,355 shares of the industrial products company’s stock after selling 19,524 shares during the quarter. NorthCrest Asset Manangement LLC’s holdings in Parker-Hannifin were worth $25,789,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Procyon Advisors LLC grew its stake in shares of Parker-Hannifin by 158,565.9% during the third quarter. Procyon Advisors LLC now owns 5,069,374 shares of the industrial products company’s stock valued at $3,843,346,000 after purchasing an additional 5,066,179 shares during the last quarter. Norges Bank acquired a new stake in shares of Parker-Hannifin in the 2nd quarter valued at $1,352,509,000. Canada Pension Plan Investment Board raised its position in shares of Parker-Hannifin by 115.7% during the second quarter. Canada Pension Plan Investment Board now owns 367,904 shares of the industrial products company’s stock worth $256,970,000 after acquiring an additional 197,317 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its holdings in Parker-Hannifin by 9.1% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,639,582 shares of the industrial products company’s stock valued at $1,145,199,000 after acquiring an additional 136,359 shares during the last quarter. Finally, Lazard Freres Gestion S.A.S. bought a new stake in Parker-Hannifin during the 3rd quarter worth about $103,284,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Stock Performance

PH stock opened at $944.14 on Monday. Parker-Hannifin Corporation has a 1-year low of $488.45 and a 1-year high of $950.00. The company has a current ratio of 1.07, a quick ratio of 0.61 and a debt-to-equity ratio of 0.54. The firm has a market cap of $119.14 billion, a PE ratio of 33.64, a P/E/G ratio of 3.28 and a beta of 1.25. The business’s 50-day moving average price is $877.39 and its two-hundred day moving average price is $791.97.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings results on Thursday, November 6th. The industrial products company reported $7.22 EPS for the quarter, topping analysts’ consensus estimates of $6.62 by $0.60. Parker-Hannifin had a return on equity of 27.23% and a net margin of 18.17%.The company had revenue of $5.08 billion for the quarter, compared to analyst estimates of $4.94 billion. During the same quarter last year, the firm posted $6.20 earnings per share. Parker-Hannifin’s revenue was up 3.7% compared to the same quarter last year. Parker-Hannifin has set its FY 2026 guidance at 29.600-30.400 EPS and its FY 2026 guidance at 29.600-30.400 EPS. As a group, research analysts forecast that Parker-Hannifin Corporation will post 26.71 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 5th. Stockholders of record on Friday, November 7th were given a dividend of $1.80 per share. The ex-dividend date of this dividend was Friday, November 7th. This represents a $7.20 annualized dividend and a dividend yield of 0.8%. Parker-Hannifin’s dividend payout ratio is currently 25.65%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Stifel Nicolaus raised their target price on shares of Parker-Hannifin from $850.00 to $869.00 and gave the company a “hold” rating in a research note on Tuesday, December 16th. Barclays raised their price objective on shares of Parker-Hannifin from $950.00 to $990.00 and gave the company an “overweight” rating in a research note on Wednesday, January 7th. Truist Financial upped their target price on shares of Parker-Hannifin from $977.00 to $1,097.00 and gave the company a “buy” rating in a research report on Thursday, December 18th. Wall Street Zen upgraded Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Monday. Finally, BNP Paribas initiated coverage on Parker-Hannifin in a report on Thursday, December 4th. They issued an “outperform” rating and a $1,020.00 price objective for the company. Seventeen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $946.17.

Insider Buying and Selling

In related news, VP Rachid Bendali sold 1,437 shares of the stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $852.99, for a total transaction of $1,225,746.63. Following the completion of the transaction, the vice president directly owned 2,714 shares in the company, valued at approximately $2,315,014.86. This trade represents a 34.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Andrew D. Ross sold 2,488 shares of Parker-Hannifin stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $894.81, for a total transaction of $2,226,287.28. Following the completion of the sale, the chief operating officer owned 13,120 shares in the company, valued at $11,739,907.20. This trade represents a 15.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 7,432 shares of company stock worth $6,484,116 over the last ninety days. Company insiders own 0.32% of the company’s stock.

Parker-Hannifin Company Profile

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.