US Bancorp DE Cuts Stock Holdings in Parker-Hannifin Corporation $PH

US Bancorp DE trimmed its position in shares of Parker-Hannifin Corporation (NYSE:PH) by 1.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 78,500 shares of the industrial products company’s stock after selling 1,082 shares during the quarter. US Bancorp DE’s holdings in Parker-Hannifin were worth $54,830,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of PH. Wealth Preservation Advisors LLC purchased a new position in Parker-Hannifin during the 1st quarter worth $27,000. Saudi Central Bank purchased a new position in shares of Parker-Hannifin in the 1st quarter worth about $31,000. Olde Wealth Management LLC purchased a new position in shares of Parker-Hannifin in the 1st quarter worth about $35,000. Chilton Capital Management LLC boosted its holdings in shares of Parker-Hannifin by 1,500.0% in the 1st quarter. Chilton Capital Management LLC now owns 64 shares of the industrial products company’s stock worth $39,000 after buying an additional 60 shares during the last quarter. Finally, Accent Capital Management LLC purchased a new position in shares of Parker-Hannifin in the 1st quarter worth about $41,000. 82.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PH has been the topic of a number of research analyst reports. Morgan Stanley boosted their price target on shares of Parker-Hannifin from $700.00 to $725.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 9th. Cowen reissued a “hold” rating on shares of Parker-Hannifin in a report on Friday, August 29th. 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. Raymond James Financial boosted their price target on shares of Parker-Hannifin from $735.00 to $845.00 and gave the stock an “outperform” rating in a report on Friday, August 8th. Finally, Truist Financial boosted their price target on shares of Parker-Hannifin from $822.00 to $910.00 and gave the stock a “buy” rating in a report on Wednesday. Fourteen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $786.78.

Insider Transactions at Parker-Hannifin

In related news, VP Matthew A. Jacobson sold 575 shares of the company’s stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $733.06, for a total value of $421,509.50. Following the transaction, the vice president directly owned 1,000 shares in the company, valued at approximately $733,060. This represents a 36.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Joseph R. Leonti sold 4,625 shares of the company’s stock in a transaction that occurred on 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 owned 13,878 shares in the company, valued at approximately $10,420,157.52. This trade represents a 25.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,039 shares of company stock valued at $10,356,566. Company insiders own 0.32% of the company’s stock.

Parker-Hannifin Price Performance

NYSE PH opened at $738.74 on Friday. The company has a market cap of $93.48 billion, a PE ratio of 27.24, a price-to-earnings-growth ratio of 3.12 and a beta of 1.35. Parker-Hannifin Corporation has a 52 week low of $488.45 and a 52 week high of $779.77. 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 firm’s 50-day simple moving average is $748.87 and its two-hundred day simple moving average is $684.70.

Parker-Hannifin (NYSE:PH) last announced 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 firm had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.10 billion. During the same period in the prior year, the firm posted $6.77 earnings per share. The company’s revenue for the quarter was up 1.1% on a year-over-year basis. Parker-Hannifin has set its FY 2026 guidance at 28.400-29.400 EPS. Research analysts predict that Parker-Hannifin Corporation will post 26.71 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Tuesday, September 2nd were issued a $1.80 dividend. This represents a $7.20 dividend on an annualized basis and a dividend 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 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.