Allstate Corp Raises Position in Parker-Hannifin Corporation $PH

Allstate Corp grew its holdings in shares of Parker-Hannifin Corporation (NYSE:PH) by 41.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,373 shares of the industrial products company’s stock after purchasing an additional 1,568 shares during the period. Allstate Corp’s holdings in Parker-Hannifin were worth $3,266,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of PH. Mpwm Advisory Solutions LLC acquired a new position in Parker-Hannifin during the fourth quarter worth $32,000. Olde Wealth Management LLC purchased a new stake in shares of Parker-Hannifin during the 1st quarter worth $35,000. Chilton Capital Management LLC grew its stake in shares of Parker-Hannifin by 1,500.0% during the 1st 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. Accent Capital Management LLC purchased a new position in shares of Parker-Hannifin in the 1st quarter valued at about $41,000. Finally, Sierra Ocean LLC increased its holdings in shares of Parker-Hannifin by 89.5% in the 1st quarter. Sierra Ocean LLC now owns 72 shares of the industrial products company’s stock valued at $44,000 after purchasing an additional 34 shares in the last quarter. 82.44% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Parker-Hannifin news, COO Andrew D. Ross sold 4,361 shares of Parker-Hannifin stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $732.66, for a total value of $3,195,130.26. Following the completion of the sale, the chief operating officer directly owned 13,120 shares of the company’s stock, valued at approximately $9,612,499.20. The trade was a 24.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Thomas C. Gentile sold 1,133 shares of the business’s stock in a transaction on Friday, August 8th. The shares were sold at an average price of $729.50, for a total value of $826,523.50. Following the completion of the transaction, the vice president owned 5,465 shares of the company’s stock, valued at $3,986,717.50. This trade represents a 17.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,414 shares of company stock valued at $6,883,931 in the last 90 days. Insiders own 0.39% of the company’s stock.

Parker-Hannifin Price Performance

PH stock opened at $752.3780 on Friday. The stock’s 50 day moving average price is $713.04 and its 200 day moving average price is $660.65. The firm has a market cap of $96.14 billion, a P/E ratio of 27.74, a PEG ratio of 3.04 and a beta of 1.37. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.71 and a current ratio of 1.19. Parker-Hannifin Corporation has a 1 year low of $488.45 and a 1 year high of $763.99.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings results on Thursday, August 7th. The industrial products company reported $7.69 earnings per share for the quarter, topping analysts’ consensus estimates of $7.08 by $0.61. Parker-Hannifin had a return on equity of 26.80% and a net margin of 17.79%.The company had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.10 billion. During the same period in the previous year, the firm posted $6.77 earnings per share. The business’s revenue for the quarter was up 1.1% compared to the same quarter last year. Parker-Hannifin has set its FY 2026 guidance at 28.400-29.400 EPS. On average, sell-side analysts expect that Parker-Hannifin Corporation will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Tuesday, September 2nd will be paid a dividend of $1.80 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $7.20 annualized dividend and a dividend yield of 1.0%. Parker-Hannifin’s dividend payout ratio is presently 26.55%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on PH. Argus set a $680.00 target price on shares of Parker-Hannifin in a research report on Tuesday, May 6th. Stifel Nicolaus upped their price target on Parker-Hannifin from $717.00 to $726.00 and gave the stock a “hold” rating in a report on Friday, August 8th. Wells Fargo & Company raised their price objective on Parker-Hannifin from $770.00 to $800.00 and gave the company an “overweight” rating in a research note on Friday, August 8th. Morgan Stanley boosted their target price on Parker-Hannifin from $700.00 to $725.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 9th. Finally, Evercore ISI reissued an “outperform” rating on shares of Parker-Hannifin in a report on Tuesday. Fourteen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $768.71.

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.