TD Asset Management Inc Sells 4,204 Shares of Parker-Hannifin Corporation $PH

TD Asset Management Inc lowered its stake in shares of Parker-Hannifin Corporation (NYSE:PH) by 2.7% during the second quarter, HoldingsChannel reports. The fund owned 149,982 shares of the industrial products company’s stock after selling 4,204 shares during the quarter. TD Asset Management Inc’s holdings in Parker-Hannifin were worth $104,758,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Alley Investment Management Company LLC bought a new position in Parker-Hannifin during the first quarter worth $7,996,000. Community Financial Services Group LLC boosted its stake in Parker-Hannifin by 1,338.2% during 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 buying an additional 6,169 shares in the last quarter. Inspire Investing LLC boosted its stake in Parker-Hannifin by 5.1% during the first quarter. Inspire Investing LLC now owns 12,386 shares of the industrial products company’s stock worth $7,529,000 after buying an additional 596 shares in the last quarter. Heartland Bank & Trust Co acquired a new stake in Parker-Hannifin during the first quarter worth $260,000. Finally, Geneos Wealth Management Inc. boosted its stake in Parker-Hannifin by 20.9% during the first quarter. Geneos Wealth Management Inc. now owns 2,194 shares of the industrial products company’s stock worth $1,334,000 after buying an additional 379 shares in the last quarter. Institutional investors own 82.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Barclays lifted their price target on shares of Parker-Hannifin from $776.00 to $785.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 1st. Citigroup lifted their price target on shares of Parker-Hannifin from $831.00 to $874.00 and gave the stock a “buy” rating in a research note on Thursday, October 9th. Raymond James Financial lifted their price target on shares of Parker-Hannifin from $735.00 to $845.00 and gave the stock an “outperform” rating in a research note on Friday, August 8th. Weiss Ratings reiterated a “buy (b)” rating on shares of Parker-Hannifin in a research note on Wednesday, October 8th. Finally, Wells Fargo & Company lifted their price target on shares of Parker-Hannifin from $800.00 to $840.00 and gave the stock an “overweight” rating in a research note on Monday, October 6th. Fourteen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $787.61.

Parker-Hannifin Stock Up 1.1%

Shares of NYSE:PH opened at $736.75 on Wednesday. Parker-Hannifin Corporation has a 52 week low of $488.45 and a 52 week high of $779.77. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.71 and a current ratio of 1.19. The company’s fifty day moving average is $749.61 and its 200-day moving average is $687.14. The company has a market capitalization of $93.23 billion, a PE ratio of 27.17, a P/E/G ratio of 3.02 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 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $5.10 billion. During the same quarter in the previous year, the company earned $6.77 EPS. The firm’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. Equities research analysts predict that Parker-Hannifin Corporation will post 26.71 earnings per share for the current fiscal 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 given a dividend of $1.80 per share. The ex-dividend date was Tuesday, September 2nd. This represents a $7.20 annualized dividend and a yield of 1.0%. Parker-Hannifin’s dividend payout ratio is 26.55%.

Insider Buying and Selling at Parker-Hannifin

In related news, VP Robert W. Malone sold 2,257 shares of the company’s stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $730.66, for a total transaction of $1,649,099.62. Following the transaction, the vice president owned 5,866 shares in the company, valued at $4,286,051.56. This represents a 27.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Thomas C. Gentile sold 1,133 shares of the company’s stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $729.50, for a total transaction of $826,523.50. Following the transaction, the vice president owned 5,465 shares in the company, valued at approximately $3,986,717.50. This trade represents a 17.17% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 14,039 shares of company stock worth $10,356,566 over the last quarter. Corporate insiders own 0.32% of the company’s stock.

About Parker-Hannifin

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.