2,042 Parker-Hannifin Corporation $PH Shares Sold by Red Cedar Investment Management LLC

Red Cedar Investment Management LLC cut its stake in shares of Parker-Hannifin Corporation (NYSE:PH) by 22.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 7,139 shares of the industrial products company’s stock after selling 2,042 shares during the period. Red Cedar Investment Management LLC’s holdings in Parker-Hannifin were worth $6,821,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of PH. BlackRock Inc. purchased a new position in Parker-Hannifin in the second quarter worth about $10,163,362,000. State Street Corp grew its stake in shares of Parker-Hannifin by 0.5% during the 2nd quarter. State Street Corp now owns 9,385,389 shares of the industrial products company’s stock valued at $9,180,037,000 after purchasing an additional 42,548 shares during the period. Bank of America Corp DE purchased a new stake in shares of Parker-Hannifin during the 2nd quarter valued at about $3,273,507,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Parker-Hannifin by 2.5% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,032,942 shares of the industrial products company’s stock valued at $1,010,341,000 after purchasing an additional 25,167 shares during the last quarter. Finally, Deutsche Bank AG purchased a new stake in shares of Parker-Hannifin during the 2nd quarter valued at about $987,587,000. 82.44% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on PH shares. Citigroup increased their price objective on shares of Parker-Hannifin from $1,232.00 to $1,234.00 and gave the stock a “buy” rating in a research note on Monday, October 12th. BNP Paribas Exane boosted their target price on shares of Parker-Hannifin from $1,220.00 to $1,270.00 and gave the company an “outperform” rating in a research report on Friday, September 18th. Stifel Nicolaus set a $1,002.00 target price on shares of Parker-Hannifin in a report on Monday, October 19th. Jefferies Financial Group increased their price target on shares of Parker-Hannifin from $1,100.00 to $1,275.00 in a research report on Friday, August 7th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Parker-Hannifin in a research note on Thursday, October 15th. Eighteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Parker-Hannifin has a consensus rating of “Moderate Buy” and a consensus target price of $1,146.35.

Insider Buying and Selling

In other Parker-Hannifin news, VP Berend Bracht sold 602 shares of the firm’s stock in a transaction that occurred on 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 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.35% of the company’s stock.

Parker-Hannifin Stock Performance

NYSE:PH opened at $955.99 on Tuesday. 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 stock has a 50-day simple moving average of $945.56 and a two-hundred day simple moving average of $949.30. The firm has a market capitalization of $120.56 billion, a PE ratio of 32.83, a P/E/G ratio of 2.53 and a beta of 1.15. Parker-Hannifin Corporation has a 52-week low of $806.22 and a 52-week high of $1,099.94.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, November 5th. The industrial products company reported $8.90 EPS for the quarter, topping the consensus estimate of $8.21 by $0.69. Parker-Hannifin had a return on equity of 28.48% and a net margin of 16.97%. The firm had revenue of $5.99 billion for the quarter, compared to the consensus estimate of $5.81 billion. During the same quarter last year, the company earned $7.22 earnings per share. The business’s revenue for the quarter was up 17.9% compared to the same quarter last year. Parker-Hannifin has set its FY 2027 guidance at 36.450-37.250 EPS. Analysts forecast that Parker-Hannifin Corporation will post 37.06 EPS for the current year.

Parker-Hannifin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 4th. Investors of record on Friday, November 13th will be issued a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Friday, November 13th. Parker-Hannifin’s dividend payout ratio is currently 27.47%.

About Parker-Hannifin

Parker-Hannifin is a global manufacturer of motion and control technologies. Its products include hydraulic and pneumatic systems, fluid connectors, filtration and sealing products, electromechanical components, and systems for aerospace and climate control applications.

The company serves customers across industries such as aerospace, manufacturing, transportation, energy, and life sciences. Its operations span markets around the world, with businesses organized around industrial and aerospace products and services.

Founded in 1917 by Arthur L.