Westbourne Investments Inc. Sells 22 Shares of Parker-Hannifin Corporation $PH

Westbourne Investments Inc. decreased its holdings in shares of Parker-Hannifin Corporation (NYSE:PH) by 0.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,996 shares of the industrial products company’s stock after selling 22 shares during the quarter. Parker-Hannifin comprises approximately 1.5% of Westbourne Investments Inc.’s portfolio, making the stock its 19th biggest holding. Westbourne Investments Inc.’s holdings in Parker-Hannifin were worth $2,791,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. SG Americas Securities LLC increased its holdings in shares of Parker-Hannifin by 27.2% in the first quarter. SG Americas Securities LLC now owns 31,011 shares of the industrial products company’s stock worth $18,850,000 after purchasing an additional 6,630 shares during the period. Alley Investment Management Company LLC bought a new position in shares of Parker-Hannifin in the first quarter worth $7,996,000. Community Financial Services Group LLC increased its holdings in shares of Parker-Hannifin by 1,338.2% in the first quarter. Community Financial Services Group LLC now owns 6,630 shares of the industrial products company’s stock worth $4,030,000 after purchasing an additional 6,169 shares during the period. Heartland Bank & Trust Co bought a new position in shares of Parker-Hannifin in the first quarter worth $260,000. Finally, Banco Santander S.A. increased its holdings in shares of Parker-Hannifin by 70.2% in the first quarter. Banco Santander S.A. now owns 35,645 shares of the industrial products company’s stock worth $21,667,000 after purchasing an additional 14,705 shares during the period. Institutional investors own 82.44% of the company’s stock.

Insider Buying and Selling

In related news, VP Angela R. Ives sold 810 shares of the stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $727.36, for a total value of $589,161.60. Following the completion of the transaction, the vice president directly owned 2,798 shares of the company’s stock, valued at $2,035,153.28. This represents a 22.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Joseph R. Leonti sold 4,625 shares of the stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $750.84, for a total transaction of $3,472,635.00. Following the completion of the transaction, 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 disclosure for this sale can be found here. Insiders sold 14,039 shares of company stock valued at $10,356,566 over the last quarter. 0.39% of the stock is currently owned by insiders.

Analyst Ratings Changes

PH has been the topic of several research analyst reports. Susquehanna initiated coverage on shares of Parker-Hannifin in a report on Friday, August 15th. They issued a “positive” rating and a $860.00 price target on the stock. Wall Street Zen lowered shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a research report on Sunday, September 7th. Deutsche Bank Aktiengesellschaft lowered 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. Raymond James Financial upped their target price on shares of Parker-Hannifin from $735.00 to $845.00 and gave the stock an “outperform” rating in a research report on Friday, August 8th. Finally, Cowen reiterated a “hold” rating on shares of Parker-Hannifin in a research report on Friday, August 29th. Thirteen investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $770.94.

Parker-Hannifin Price Performance

PH stock opened at $754.37 on Wednesday. Parker-Hannifin Corporation has a 1 year low of $488.45 and a 1 year high of $779.77. The company has a market cap of $96.39 billion, a P/E ratio of 27.82, a PEG ratio of 3.15 and a beta of 1.35. The firm has a 50-day moving average of $738.24 and a 200 day moving average of $669.72. 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, topping analysts’ consensus estimates of $7.08 by $0.61. Parker-Hannifin had a net margin of 17.79% and a return on equity of 26.80%. The company had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.10 billion. During the same period in the prior year, the firm earned $6.77 earnings per share. Parker-Hannifin’s revenue was up 1.1% on a year-over-year basis. Parker-Hannifin has set its FY 2026 guidance at 28.400-29.400 EPS. On average, sell-side analysts forecast that Parker-Hannifin Corporation will post 26.71 EPS for the current year.

Parker-Hannifin Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Tuesday, September 2nd were paid a $1.80 dividend. 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 is presently 26.55%.

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.