Allspring Global Investments Holdings LLC Sells 12,066 Shares of Parker-Hannifin Corporation $PH

Allspring Global Investments Holdings LLC lessened its holdings in shares of Parker-Hannifin Corporation (NYSE:PH) by 24.4% in the second quarter, Holdings Channel.com reports. The fund owned 37,366 shares of the industrial products company’s stock after selling 12,066 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Parker-Hannifin were worth $26,279,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PH. Nuveen LLC bought a new position in shares of Parker-Hannifin during the first quarter valued at approximately $933,089,000. Price T Rowe Associates Inc. MD grew its stake in Parker-Hannifin by 52.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,443,104 shares of the industrial products company’s stock worth $1,485,042,000 after purchasing an additional 842,262 shares during the period. Wellington Management Group LLP grew its stake in Parker-Hannifin by 11.6% in the first quarter. Wellington Management Group LLP now owns 2,009,250 shares of the industrial products company’s stock worth $1,221,323,000 after purchasing an additional 208,573 shares during the period. Goldman Sachs Group Inc. grew its stake in Parker-Hannifin by 23.8% in the first quarter. Goldman Sachs Group Inc. now owns 996,738 shares of the industrial products company’s stock worth $605,867,000 after purchasing an additional 191,799 shares during the period. Finally, Vanguard Group Inc. grew its stake in Parker-Hannifin by 1.6% in the first quarter. Vanguard Group Inc. now owns 11,023,764 shares of the industrial products company’s stock worth $6,700,795,000 after purchasing an additional 168,990 shares during the period. Institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Trading Down 1.8%

Parker-Hannifin stock opened at $724.88 on Friday. 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 Corporation has a one year low of $488.45 and a one year high of $779.77. The stock has a market capitalization of $91.73 billion, a PE ratio of 26.73, a price-to-earnings-growth ratio of 3.05 and a beta of 1.35. The business’s fifty day moving average is $750.37 and its 200 day moving average is $688.28.

Parker-Hannifin (NYSE:PH) last posted its earnings results on Thursday, August 7th. The industrial products company reported $7.69 earnings per share for the quarter, beating 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 for the quarter, compared to the consensus estimate of $5.10 billion. During the same quarter in the prior year, the company 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 predict that Parker-Hannifin Corporation will post 26.71 EPS for the current year.

Parker-Hannifin Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Tuesday, September 2nd were paid a $1.80 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $7.20 annualized dividend and a dividend yield of 1.0%. Parker-Hannifin’s dividend payout ratio (DPR) is 26.55%.

Insider Transactions at Parker-Hannifin

In other news, VP Thomas C. Gentile sold 1,133 shares of the firm’s 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Angela R. Ives sold 810 shares of the stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $727.36, for a total value of $589,161.60. Following the sale, the vice president owned 2,798 shares of the company’s stock, valued at $2,035,153.28. This represents a 22.45% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 14,039 shares of company stock valued at $10,356,566. Company insiders own 0.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on PH. Barclays upped their price target on Parker-Hannifin from $776.00 to $785.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 1st. Susquehanna began coverage on Parker-Hannifin in a research note on Friday, August 15th. They issued a “positive” rating and a $860.00 price target on the stock. Cowen reaffirmed a “hold” rating on shares of Parker-Hannifin in a research note on Friday, August 29th. Wall Street Zen raised Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Saturday, September 20th. Finally, Morgan Stanley upped their price target on Parker-Hannifin from $700.00 to $725.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 9th. Thirteen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, Parker-Hannifin has a consensus rating of “Moderate Buy” and an average price target of $787.61.

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.