Congress Asset Management Co. Has $143.92 Million Position in Parker-Hannifin Corporation $PH

Congress Asset Management Co. decreased its holdings in shares of Parker-Hannifin Corporation (NYSE:PH) by 0.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 189,825 shares of the industrial products company’s stock after selling 1,326 shares during the period. Parker-Hannifin makes up about 1.0% of Congress Asset Management Co.’s portfolio, making the stock its 27th largest position. Congress Asset Management Co. owned approximately 0.15% of Parker-Hannifin worth $143,916,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Wealth Preservation Advisors LLC bought a new stake in shares of Parker-Hannifin during the first quarter worth about $27,000. Saudi Central Bank acquired a new position in Parker-Hannifin during the 1st quarter valued at about $31,000. Interchange Capital Partners LLC acquired a new position in Parker-Hannifin during the 2nd quarter valued at about $31,000. State of Wyoming purchased a new stake in shares of Parker-Hannifin in the second quarter worth approximately $38,000. Finally, Princeton Global Asset Management LLC raised its stake in shares of Parker-Hannifin by 56.1% in the second quarter. Princeton Global Asset Management LLC now owns 64 shares of the industrial products company’s stock worth $45,000 after purchasing an additional 23 shares during the last quarter. 82.44% of the stock is owned by institutional investors.

Parker-Hannifin Trading Up 0.6%

Shares of Parker-Hannifin stock opened at $873.58 on Friday. The firm has a market cap of $110.24 billion, a PE ratio of 31.12, a P/E/G ratio of 3.04 and a beta of 1.25. Parker-Hannifin Corporation has a 1 year low of $488.45 and a 1 year high of $908.35. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.07 and a quick ratio of 0.61. The stock has a fifty day moving average price of $820.62 and a 200-day moving average price of $758.39.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings results on Thursday, November 6th. The industrial products company reported $7.22 earnings per share for the quarter, beating the consensus estimate of $6.62 by $0.60. Parker-Hannifin had a net margin of 18.17% and a return on equity of 27.23%. The company had revenue of $5.08 billion during the quarter, compared to analyst estimates of $4.94 billion. During the same quarter in the prior year, the business earned $6.20 earnings per share. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. Parker-Hannifin has set its FY 2026 guidance at 29.600-30.400 EPS and its FY 2026 guidance at 29.600-30.400 EPS. Equities research analysts anticipate that Parker-Hannifin Corporation will post 26.71 EPS for the current year.

Parker-Hannifin Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 5th. Stockholders of record on Friday, November 7th were paid a dividend of $1.80 per share. The ex-dividend date was Friday, November 7th. This represents a $7.20 annualized dividend and a dividend yield of 0.8%. Parker-Hannifin’s dividend payout ratio (DPR) is presently 25.65%.

Wall Street Analysts Forecast Growth

PH has been the topic of several analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Parker-Hannifin in a research report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft cut Parker-Hannifin from a “buy” rating to a “hold” rating and set a $809.00 price objective on the stock. in a research note on Thursday, September 4th. Truist Financial upped their target price on shares of Parker-Hannifin from $977.00 to $1,097.00 and gave the stock a “buy” rating in a research note on Thursday. Stifel Nicolaus increased their target price on shares of Parker-Hannifin from $850.00 to $869.00 and gave the company a “hold” rating in a report on Tuesday, December 16th. Finally, Wall Street Zen lowered shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a research report on Saturday. Fifteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $911.65.

Insider Buying and Selling

In related news, VP Rachid Bendali sold 1,437 shares of the company’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $852.99, for a total value of $1,225,746.63. Following the transaction, the vice president owned 2,714 shares in the company, valued at approximately $2,315,014.86. This represents a 34.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Berend Bracht sold 3,507 shares of the firm’s stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $864.58, for a total value of $3,032,082.06. Following the completion of the sale, the vice president directly owned 2,580 shares of the company’s stock, valued at $2,230,616.40. This represents a 57.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 7,432 shares of company stock valued at $6,484,116. 0.32% of the stock is owned by company insiders.

About Parker-Hannifin

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.