Parker-Hannifin Corporation $PH Shares Sold by Wesbanco Bank Inc.

Wesbanco Bank Inc. lowered its position in shares of Parker-Hannifin Corporation (NYSE:PH) by 9.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 29,060 shares of the industrial products company’s stock after selling 3,000 shares during the period. Wesbanco Bank Inc.’s holdings in Parker-Hannifin were worth $25,543,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Parker-Hannifin by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 11,142,535 shares of the industrial products company’s stock worth $9,793,843,000 after buying an additional 33,606 shares during the last quarter. Procyon Advisors LLC increased its holdings in shares of Parker-Hannifin by 158,565.9% during the 3rd quarter. Procyon Advisors LLC now owns 5,069,374 shares of the industrial products company’s stock worth $3,843,346,000 after buying an additional 5,066,179 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of Parker-Hannifin by 0.6% during the 3rd quarter. Bank of America Corp DE now owns 3,904,591 shares of the industrial products company’s stock worth $2,960,266,000 after buying an additional 22,706 shares during the last quarter. Capital World Investors increased its holdings in shares of Parker-Hannifin by 7.0% during the 3rd quarter. Capital World Investors now owns 2,584,141 shares of the industrial products company’s stock worth $1,959,166,000 after buying an additional 169,073 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in shares of Parker-Hannifin by 0.6% during the 3rd quarter. Ameriprise Financial Inc. now owns 2,207,996 shares of the industrial products company’s stock worth $1,674,132,000 after buying an additional 13,309 shares during the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Insider Activity at Parker-Hannifin

In other Parker-Hannifin news, CFO Todd M. Leombruno sold 2,062 shares of the firm’s stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $1,002.34, for a total value of $2,066,825.08. Following the completion of the transaction, the chief financial officer owned 20,610 shares of the company’s stock, valued at $20,658,227.40. This trade represents a 9.09% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO Andrew D. Ross sold 4,664 shares of the firm’s stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $999.00, for a total transaction of $4,659,336.00. Following the completion of the transaction, the chief operating officer directly owned 13,120 shares of the company’s stock, valued at $13,106,880. This represents a 26.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.32% of the company’s stock.

Analyst Ratings Changes

PH has been the subject of a number of recent analyst reports. Stifel Nicolaus raised their price target on shares of Parker-Hannifin from $965.00 to $1,000.00 and gave the stock a “hold” rating in a report on Friday, April 10th. BMO Capital Markets began coverage on shares of Parker-Hannifin in a research report on Friday, March 27th. They set an “outperform” rating and a $1,090.00 price objective for the company. Robert W. Baird set a $1,050.00 price objective on shares of Parker-Hannifin in a research report on Friday, January 30th. Barclays increased their price objective on shares of Parker-Hannifin from $990.00 to $1,020.00 and gave the stock an “overweight” rating in a research report on Friday, January 30th. Finally, Jefferies Financial Group increased their price objective on shares of Parker-Hannifin from $1,050.00 to $1,100.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. Seventeen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Parker-Hannifin currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,010.45.

Parker-Hannifin Stock Performance

NYSE:PH opened at $878.24 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.66 and a current ratio of 1.13. The stock has a market capitalization of $110.85 billion, a P/E ratio of 32.40, a PEG ratio of 2.84 and a beta of 1.18. The company has a 50 day moving average price of $940.31 and a 200 day moving average price of $906.44. Parker-Hannifin Corporation has a fifty-two week low of $637.21 and a fifty-two week high of $1,034.96.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, April 30th. The industrial products company reported $8.17 earnings per share for the quarter, topping analysts’ consensus estimates of $7.84 by $0.33. The firm had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $5.40 billion. Parker-Hannifin had a net margin of 16.58% and a return on equity of 27.97%. The firm’s quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter last year, the company posted $6.94 EPS. Parker-Hannifin has set its FY 2026 guidance at 31.200-31.200 EPS. Equities research analysts forecast that Parker-Hannifin Corporation will post 31.15 EPS for the current year.

Parker-Hannifin Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 5th. Shareholders of record on Friday, May 8th will be given a $2.00 dividend. The ex-dividend date of this dividend is Friday, May 8th. This represents a $8.00 annualized dividend and a yield of 0.9%. This is a boost from Parker-Hannifin’s previous quarterly dividend of $1.80. Parker-Hannifin’s dividend payout ratio is 26.56%.

Parker-Hannifin Profile

Parker-Hannifin Corporation (NYSE: PH) is a global manufacturer and provider of motion and control technologies and systems. The company designs, manufactures and services a broad range of engineered components and systems used to control the movement and flow of liquids, gases and hydraulic power. Its product portfolio is applied across demanding environments and includes solutions for industrial manufacturing, aerospace, mobile equipment and other engineered applications.

Parker-Hannifin’s product and service offerings span hydraulic and pneumatic components, fittings and fluid connectors, valves, pumps and motors, electromechanical actuators and motion-control systems, filtration and separation products, and seals and sealing systems.