Parker-Hannifin Corporation $PH Holdings Cut by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. decreased its holdings in Parker-Hannifin Corporation (NYSE:PH) by 3.9% in the 3rd quarter, HoldingsChannel reports. The fund owned 259,971 shares of the industrial products company’s stock after selling 10,449 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Parker-Hannifin were worth $248,381,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of PH. Polaris Financial Partners acquired a new position in shares of Parker-Hannifin during the 3rd quarter worth approximately $26,000. Archer Investment Corp acquired a new stake in shares of Parker-Hannifin during the 2nd quarter worth about $28,000. Latitude Advisors LLC purchased a new position in shares of Parker-Hannifin during the third quarter valued at approximately $27,000. Pension & Wealth Management Advisors Inc. acquired a new stake in Parker-Hannifin during the third quarter worth approximately $30,000. Finally, North Star Investment Management Corp. raised its holdings in Parker-Hannifin by 120.0% in the 3rd quarter. North Star Investment Management Corp. now owns 33 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 18 shares during the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Analysts Set New Price Targets

PH has been the subject of several recent analyst reports. JPMorgan Chase & Co. lowered their price target on Parker-Hannifin from $1,140.00 to $1,131.00 and set an “overweight” rating for the company in a report on Friday, October 9th. Citigroup raised their target price on shares of Parker-Hannifin from $1,232.00 to $1,234.00 and gave the company a “buy” rating in a research note on Monday, October 12th. Stifel Nicolaus set a $1,002.00 price target on Parker-Hannifin in a report on Monday, October 19th. Sanford C. Bernstein boosted their target price on shares of Parker-Hannifin from $1,037.00 to $1,218.00 and gave the company an “outperform” rating in a research note on Friday, August 14th. Finally, UBS Group set a $950.00 price objective on Parker-Hannifin in a report on Wednesday, October 14th. Eighteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $1,146.35.

Parker-Hannifin Trading Down 0.1%

Shares of Parker-Hannifin stock opened at $898.73 on Monday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.74 and a current ratio of 1.26. Parker-Hannifin Corporation has a fifty-two week low of $755.10 and a fifty-two week high of $1,099.94. The company has a fifty day moving average of $956.18 and a 200 day moving average of $949.73. The company has a market capitalization of $113.34 billion, a P/E ratio of 31.55, a P/E/G ratio of 2.51 and a beta of 1.12.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings results on Thursday, August 6th. The industrial products company reported $9.27 EPS for the quarter, topping the consensus estimate of $8.31 by $0.96. The firm had revenue of $5.75 billion during the quarter, compared to analyst estimates of $5.57 billion. Parker-Hannifin had a return on equity of 28.48% and a net margin of 16.97%. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the previous year, the company posted $7.69 EPS. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. On average, sell-side analysts anticipate that Parker-Hannifin Corporation will post 35.72 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 4th. Stockholders of record on Friday, November 13th will be paid a dividend of $2.00 per share. The ex-dividend date of this dividend is Friday, November 13th. This represents a $8.00 annualized dividend and a dividend yield of 0.9%. Parker-Hannifin’s payout ratio is currently 28.08%.

Insider Activity at Parker-Hannifin

In other news, VP Berend Bracht sold 602 shares of the stock in a transaction dated 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 transaction, the vice president owned 4,399 shares of the company’s stock, valued at approximately $4,577,027.53. This trade represents a 12.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.35% of the company’s stock.

Parker-Hannifin Company Profile

Parker-Hannifin Corporation is a diversified manufacturer of motion and control technologies and systems. The company serves aerospace, industrial, and other specialized markets with products designed to control the movement and flow of liquids and gases, as well as mechanical motion and power.

Its product portfolio includes hydraulic and pneumatic systems, filtration and process-control equipment, electromechanical technologies, sealing and shielding products, connectors, pumps, valves, and related components.