Parker-Hannifin Corporation $PH Stock Position Trimmed by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. lessened its stake in Parker-Hannifin Corporation (NYSE:PH) by 12.0% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 21,822 shares of the industrial products company’s stock after selling 2,986 shares during the period. Crossmark Global Holdings Inc.’s holdings in Parker-Hannifin were worth $20,849,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Fifth Third Securities Inc. bought a new stake in shares of Parker-Hannifin during the third quarter worth $300,000. City State Bank lifted its stake in shares of Parker-Hannifin by 20.0% during the third quarter. City State Bank now owns 84 shares of the industrial products company’s stock valued at $80,000 after acquiring an additional 14 shares during the period. Quadrant Capital Group LLC boosted its holdings in Parker-Hannifin by 2.8% in the third quarter. Quadrant Capital Group LLC now owns 3,945 shares of the industrial products company’s stock valued at $3,761,000 after acquiring an additional 108 shares during the last quarter. Bell Bank boosted its holdings in Parker-Hannifin by 2.7% in the third quarter. Bell Bank now owns 1,133 shares of the industrial products company’s stock valued at $1,082,000 after acquiring an additional 30 shares during the last quarter. Finally, Harfst & Associates Inc. boosted its holdings in Parker-Hannifin by 6.1% in the third quarter. Harfst & Associates Inc. now owns 2,220 shares of the industrial products company’s stock valued at $2,121,000 after acquiring an additional 128 shares during the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Insider Buying and Selling at Parker-Hannifin

In other news, VP Berend Bracht sold 602 shares of the firm’s stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $1,040.47, for a total transaction of $626,362.94. Following the completion of the sale, the vice president owned 4,399 shares in the company, valued at approximately $4,577,027.53. This trade represents a 12.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.35% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on PH. Sanford C. Bernstein lifted their price objective on Parker-Hannifin from $1,037.00 to $1,218.00 and gave the stock an “outperform” rating in a research report on Friday, August 14th. Robert W. Baird upped their target price on shares of Parker-Hannifin from $1,050.00 to $1,275.00 in a research report on Friday, August 7th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Parker-Hannifin from $998.00 to $1,023.00 and gave the company a “hold” rating in a research note on Wednesday, September 30th. Truist Financial raised their target price on shares of Parker-Hannifin from $1,269.00 to $1,358.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Finally, Raymond James Financial lifted their price target on shares of Parker-Hannifin from $1,050.00 to $1,250.00 and gave the stock an “outperform” rating in a research report on Monday, August 10th. Eighteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $1,146.35.

Parker-Hannifin Stock Performance

Shares of PH stock opened at $958.04 on Thursday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.74 and a current ratio of 1.26. The company has a market capitalization of $120.82 billion, a P/E ratio of 33.63, a price-to-earnings-growth ratio of 2.63 and a beta of 1.12. Parker-Hannifin Corporation has a 52 week low of $737.70 and a 52 week high of $1,099.94. The company’s 50 day moving average price is $973.71 and its two-hundred day moving average price is $951.64.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, August 6th. The industrial products company reported $9.27 EPS for the quarter, beating the consensus estimate of $8.31 by $0.96. Parker-Hannifin had a return on equity of 28.48% and a net margin of 16.97%. The firm had revenue of $5.75 billion for the quarter, compared to analysts’ expectations of $5.57 billion. During the same quarter in the previous year, the business posted $7.69 EPS. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. On average, analysts expect that Parker-Hannifin Corporation will post 35.72 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 11th. Stockholders of record on Monday, August 31st were given a $2.00 dividend. The ex-dividend date of this dividend was Monday, August 31st. This represents a $8.00 annualized dividend and a dividend yield of 0.8%. Parker-Hannifin’s dividend payout ratio is presently 28.08%.

Parker-Hannifin Company Profile

Parker-Hannifin Corporation is a diversified manufacturer of motion and control technologies and systems. The company serves aerospace, industrial, and other specialized markets with products designed to control the movement and flow of liquids and gases, as well as mechanical motion and power.

Its product portfolio includes hydraulic and pneumatic systems, filtration and process-control equipment, electromechanical technologies, sealing and shielding products, connectors, pumps, valves, and related components.