Segment Wealth Management LLC Sells 638 Shares of Parker-Hannifin Corporation $PH

Segment Wealth Management LLC lowered its position in Parker-Hannifin Corporation (NYSE:PH) by 2.3% during the 3rd quarter, HoldingsChannel reports. The firm owned 27,055 shares of the industrial products company’s stock after selling 638 shares during the period. Parker-Hannifin comprises about 1.3% of Segment Wealth Management LLC’s investment portfolio, making the stock its 18th biggest position. Segment Wealth Management LLC’s holdings in Parker-Hannifin were worth $25,849,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Polaris Financial Partners purchased a new position in shares of Parker-Hannifin during the third quarter worth about $26,000. Archer Investment Corp bought a new position in shares of Parker-Hannifin in the second quarter worth approximately $28,000. Pension & Wealth Management Advisors Inc. purchased a new stake in Parker-Hannifin in the third quarter valued at approximately $30,000. NFSG Corp raised its stake in Parker-Hannifin by 94.4% in the first quarter. NFSG Corp now owns 35 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 17 shares in the last quarter. Finally, Bell Investment Advisors Inc purchased a new stake in Parker-Hannifin in the second quarter valued at approximately $35,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Insider Buying and Selling

In related news, VP Berend Bracht sold 602 shares of Parker-Hannifin stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $1,040.47, for a total value of $626,362.94. Following the transaction, the vice president owned 4,399 shares in the company, valued at $4,577,027.53. This trade represents a 12.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.35% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Mizuho set a $1,200.00 price target on shares of Parker-Hannifin in a research note on Thursday, October 15th. BNP Paribas Exane raised their price objective on shares of Parker-Hannifin from $1,220.00 to $1,270.00 and gave the company an “outperform” rating in a research report on Friday, September 18th. Argus raised their price objective on shares of Parker-Hannifin from $1,030.00 to $1,200.00 and gave the company a “buy” rating in a research report on Monday, August 10th. Robert W. Baird lifted their price objective on shares of Parker-Hannifin from $1,050.00 to $1,275.00 in a report on Friday, August 7th. Finally, Sanford C. Bernstein upped their target price on shares of Parker-Hannifin from $1,037.00 to $1,218.00 and gave the stock an “outperform” rating in a research report on Friday, August 14th. Eighteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $1,146.35.

Parker-Hannifin Stock Up 2.8%

Shares of NYSE PH opened at $905.02 on Tuesday. Parker-Hannifin Corporation has a one year low of $755.10 and a one year high of $1,099.94. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.26 and a quick ratio of 0.74. The firm’s 50 day simple moving average is $968.75 and its two-hundred day simple moving average is $949.97. The stock has a market capitalization of $114.13 billion, a P/E ratio of 31.77, a PEG ratio of 2.45 and a beta of 1.12.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, August 6th. The industrial products company reported $9.27 earnings per share for the quarter, topping analysts’ consensus estimates 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 net margin of 16.97% and a return on equity of 28.48%. The business’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the business posted $7.69 EPS. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. As a group, analysts expect that Parker-Hannifin Corporation will post 35.72 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 11th. Investors of record on Monday, August 31st were given a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Monday, August 31st. Parker-Hannifin’s dividend payout ratio (DPR) is presently 28.08%.

Parker-Hannifin 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.