Carret Asset Management LLC Lowers Stake in Parker-Hannifin Corporation $PH

Carret Asset Management LLC lowered its stake in shares of Parker-Hannifin Corporation (NYSE:PH) by 2.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,650 shares of the industrial products company’s stock after selling 420 shares during the period. Parker-Hannifin accounts for about 1.1% of Carret Asset Management LLC’s investment portfolio, making the stock its 18th biggest holding. Carret Asset Management LLC’s holdings in Parker-Hannifin were worth $10,232,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of PH. Nuveen LLC purchased a new stake in Parker-Hannifin during the first quarter worth $933,089,000. Price T Rowe Associates Inc. MD lifted its holdings in Parker-Hannifin by 52.6% during 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 buying an additional 842,262 shares during the period. Wellington Management Group LLP lifted its holdings in Parker-Hannifin by 11.6% during 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 buying an additional 208,573 shares during the period. Goldman Sachs Group Inc. lifted its holdings in Parker-Hannifin by 23.8% during the first quarter. Goldman Sachs Group Inc. now owns 996,738 shares of the industrial products company’s stock worth $605,867,000 after buying an additional 191,799 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in Parker-Hannifin by 1.6% during 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 buying an additional 168,990 shares during the period. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on PH shares. Citigroup upped their price target on Parker-Hannifin from $831.00 to $874.00 and gave the stock a “buy” rating in a research report on Thursday, October 9th. Barclays upped their price target on Parker-Hannifin from $776.00 to $785.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 1st. Wells Fargo & Company upped their price target on Parker-Hannifin from $800.00 to $840.00 and gave the stock an “overweight” rating in a research report on Monday, October 6th. Deutsche Bank Aktiengesellschaft downgraded Parker-Hannifin from a “buy” rating to a “hold” rating and set a $809.00 price target on the stock. in a research report on Thursday, September 4th. 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 report on Wednesday, July 9th. Fourteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $789.67.

Parker-Hannifin Price Performance

NYSE PH opened at $774.85 on Thursday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.19 and a quick ratio of 0.71. The stock’s fifty day moving average price is $753.51 and its 200 day moving average price is $702.25. Parker-Hannifin Corporation has a 1 year low of $488.45 and a 1 year high of $784.38. The company has a market cap of $98.05 billion, a price-to-earnings ratio of 28.57, a PEG ratio of 3.17 and a beta of 1.35.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, August 7th. The industrial products company reported $7.69 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $5.10 billion. During the same period in the prior year, the firm earned $6.77 EPS. The firm’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. As a group, equities research analysts forecast that Parker-Hannifin Corporation will post 26.71 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

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

Insider Activity at Parker-Hannifin

In other Parker-Hannifin news, COO Andrew D. Ross sold 4,361 shares of the stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $732.66, for a total transaction of $3,195,130.26. Following the sale, the chief operating officer directly owned 13,120 shares of the company’s stock, valued at approximately $9,612,499.20. This trade represents a 24.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Robert W. Malone sold 2,257 shares of the stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $730.66, for a total value of $1,649,099.62. Following the sale, the vice president directly owned 5,866 shares in the company, valued at $4,286,051.56. This represents a 27.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 14,039 shares of company stock worth $10,356,566 in the last three months. Company insiders own 0.32% 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.