Wedmont Private Capital Purchases 96 Shares of Parker-Hannifin Corporation $PH

Wedmont Private Capital boosted its position in Parker-Hannifin Corporation (NYSE:PH) by 3.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,160 shares of the industrial products company’s stock after purchasing an additional 96 shares during the quarter. Wedmont Private Capital’s holdings in Parker-Hannifin were worth $2,236,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the stock. Cascade Financial Partners LLC lifted its position in shares of Parker-Hannifin by 3.1% during the 1st quarter. Cascade Financial Partners LLC now owns 498 shares of the industrial products company’s stock valued at $303,000 after acquiring an additional 15 shares during the period. Meiji Yasuda Asset Management Co Ltd. lifted its position in shares of Parker-Hannifin by 0.8% during the 1st quarter. Meiji Yasuda Asset Management Co Ltd. now owns 1,814 shares of the industrial products company’s stock valued at $1,103,000 after acquiring an additional 15 shares during the period. Empowered Funds LLC lifted its position in shares of Parker-Hannifin by 0.5% during the 1st quarter. Empowered Funds LLC now owns 2,894 shares of the industrial products company’s stock valued at $1,759,000 after acquiring an additional 15 shares during the period. Sivia Capital Partners LLC lifted its position in shares of Parker-Hannifin by 3.6% during the 2nd quarter. Sivia Capital Partners LLC now owns 430 shares of the industrial products company’s stock valued at $300,000 after acquiring an additional 15 shares during the period. Finally, Nicolet Advisory Services LLC lifted its position in shares of Parker-Hannifin by 3.5% during the 1st quarter. Nicolet Advisory Services LLC now owns 468 shares of the industrial products company’s stock valued at $262,000 after acquiring an additional 16 shares during the period. 82.44% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Cowen reiterated a “hold” rating on shares of Parker-Hannifin in a research report on Friday, August 29th. Wells Fargo & Company boosted their price target on Parker-Hannifin from $770.00 to $800.00 and gave the stock an “overweight” rating in a report on Friday, August 8th. KeyCorp boosted their price target on Parker-Hannifin from $790.00 to $810.00 and gave the stock an “overweight” rating in a report on Friday, August 8th. Citigroup reissued a “buy” rating and set a $831.00 price target (up previously from $709.00) on shares of Parker-Hannifin in a report on Monday, July 14th. Finally, Stifel Nicolaus boosted 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. Thirteen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, Parker-Hannifin has an average rating of “Moderate Buy” and an average target price of $770.94.

Parker-Hannifin Price Performance

Shares of PH opened at $755.68 on Friday. Parker-Hannifin Corporation has a 12-month low of $488.45 and a 12-month high of $779.77. The business has a 50-day simple moving average of $739.68 and a two-hundred day simple moving average of $670.93. The company has a quick ratio of 0.71, a current ratio of 1.19 and a debt-to-equity ratio of 0.55. The stock has a market cap of $96.56 billion, a PE ratio of 27.86, a PEG ratio of 3.06 and a beta of 1.35.

Parker-Hannifin (NYSE:PH) last issued its 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 return on equity of 26.80% and a net margin of 17.79%.The business had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.10 billion. During the same quarter in the prior year, the firm earned $6.77 EPS. 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. Analysts anticipate that Parker-Hannifin Corporation will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Tuesday, September 2nd were issued 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%.

Insiders Place Their Bets

In other news, VP Thomas C. Gentile sold 1,133 shares of the stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $729.50, for a total value of $826,523.50. Following the completion of the sale, the vice president owned 5,465 shares of the company’s stock, valued at approximately $3,986,717.50. This represents a 17.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Joseph R. Leonti sold 4,625 shares of the stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $750.84, for a total value of $3,472,635.00. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,039 shares of company stock worth $10,356,566. Company insiders own 0.39% of the company’s stock.

Parker-Hannifin Company 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.