Cornerstone Advisory LLC Invests $213,000 in Parker-Hannifin Corporation $PH

Cornerstone Advisory LLC acquired a new stake in shares of Parker-Hannifin Corporation (NYSE:PH) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 305 shares of the industrial products company’s stock, valued at approximately $213,000.

Other institutional investors have also modified their holdings of the company. Alley Investment Management Company LLC bought a new position in shares of Parker-Hannifin during the 1st quarter valued at about $7,996,000. Inspire Investing LLC lifted its holdings in shares of Parker-Hannifin by 5.1% during the 1st quarter. Inspire Investing LLC now owns 12,386 shares of the industrial products company’s stock valued at $7,529,000 after purchasing an additional 596 shares in the last quarter. Geneos Wealth Management Inc. lifted its holdings in shares of Parker-Hannifin by 20.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 2,194 shares of the industrial products company’s stock valued at $1,334,000 after purchasing an additional 379 shares in the last quarter. Banco Santander S.A. lifted its holdings in shares of Parker-Hannifin by 70.2% during the 1st quarter. Banco Santander S.A. now owns 35,645 shares of the industrial products company’s stock valued at $21,667,000 after purchasing an additional 14,705 shares in the last quarter. Finally, Citizens Financial Group Inc. RI lifted its holdings in shares of Parker-Hannifin by 10.6% during the 1st quarter. Citizens Financial Group Inc. RI now owns 32,935 shares of the industrial products company’s stock valued at $20,020,000 after purchasing an additional 3,147 shares in the last quarter. Institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Stock Up 3.3%

NYSE:PH opened at $766.20 on Friday. The firm has a market capitalization of $96.96 billion, a price-to-earnings ratio of 28.25, a price-to-earnings-growth ratio of 3.07 and a beta of 1.35. Parker-Hannifin Corporation has a twelve month low of $488.45 and a twelve month high of $779.77. The stock’s 50 day moving average price is $750.77 and its two-hundred day moving average price is $694.45. The company has a quick ratio of 0.71, a current ratio of 1.19 and a debt-to-equity ratio of 0.55.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings results on Thursday, August 7th. The industrial products company reported $7.69 earnings per share for the quarter, topping the consensus estimate of $7.08 by $0.61. Parker-Hannifin had a return on equity of 26.80% and a net margin of 17.79%.The firm had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.10 billion. During the same quarter in the previous year, the firm earned $6.77 EPS. The business’s quarterly 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. Equities research analysts expect that Parker-Hannifin Corporation will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Friday, November 7th will be paid a dividend of $1.80 per share. This represents a $7.20 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Friday, November 7th. Parker-Hannifin’s payout ratio is currently 26.55%.

Insider Activity at Parker-Hannifin

In other news, VP Angela R. Ives sold 810 shares of Parker-Hannifin stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $727.36, for a total transaction of $589,161.60. Following the completion of the transaction, the vice president directly owned 2,798 shares in the company, valued at approximately $2,035,153.28. The trade was a 22.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Andrew D. Ross sold 4,361 shares of Parker-Hannifin stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $732.66, for a total value of $3,195,130.26. Following the transaction, the chief operating officer owned 13,120 shares of the company’s stock, valued at $9,612,499.20. This represents a 24.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 14,039 shares of company stock worth $10,356,566 in the last three months. 0.32% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

PH has been the topic of a number of recent research reports. Cowen reissued a “hold” rating on shares of Parker-Hannifin in a research report on Friday, August 29th. Truist Financial lifted their target price on Parker-Hannifin from $822.00 to $910.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Morgan Stanley lifted their target price on Parker-Hannifin from $700.00 to $725.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 9th. KeyCorp lifted their target price on Parker-Hannifin from $810.00 to $825.00 and gave the company an “overweight” rating in a research report on Tuesday, October 14th. Finally, Barclays lifted their target price on Parker-Hannifin from $776.00 to $785.00 and gave the company an “overweight” rating in a research report on Wednesday, October 1st. Fourteen analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Parker-Hannifin currently has a consensus rating of “Moderate Buy” and an average target price of $789.67.

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.