Baker Avenue Asset Management LP Sells 962 Shares of Parker-Hannifin Corporation $PH

Baker Avenue Asset Management LP cut its stake in shares of Parker-Hannifin Corporation (NYSE:PH) by 2.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 48,369 shares of the industrial products company’s stock after selling 962 shares during the quarter. Parker-Hannifin accounts for about 0.9% of Baker Avenue Asset Management LP’s holdings, making the stock its 27th biggest holding. Baker Avenue Asset Management LP’s holdings in Parker-Hannifin were worth $36,671,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in PH. Fidelis Capital Partners LLC lifted its position in Parker-Hannifin by 1.3% in the 2nd quarter. Fidelis Capital Partners LLC now owns 1,071 shares of the industrial products company’s stock worth $747,000 after buying an additional 14 shares during the last quarter. High Net Worth Advisory Group LLC grew its stake in shares of Parker-Hannifin by 0.3% in the third quarter. High Net Worth Advisory Group LLC now owns 4,694 shares of the industrial products company’s stock worth $3,559,000 after purchasing an additional 14 shares during the last quarter. Bingham Private Wealth LLC grew its position in shares of Parker-Hannifin by 3.3% in the 2nd quarter. Bingham Private Wealth LLC now owns 472 shares of the industrial products company’s stock worth $330,000 after buying an additional 15 shares during the last quarter. Meadow Creek Wealth Advisors LLC increased its position in Parker-Hannifin by 3.6% during the 2nd quarter. Meadow Creek Wealth Advisors LLC now owns 430 shares of the industrial products company’s stock valued at $300,000 after purchasing an additional 15 shares during the period. Finally, Valeo Financial Advisors LLC raised its stake in Parker-Hannifin by 0.8% in the second quarter. Valeo Financial Advisors LLC now owns 1,833 shares of the industrial products company’s stock worth $1,280,000 after buying an additional 15 shares in the last quarter. Institutional investors own 82.44% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on PH shares. Stifel Nicolaus upped their target price on Parker-Hannifin from $869.00 to $941.00 and gave the stock a “hold” rating in a report on Friday. Robert W. Baird upped their price target on Parker-Hannifin from $930.00 to $960.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 12th. Susquehanna reissued a “positive” rating and set a $1,000.00 price objective on shares of Parker-Hannifin in a research report on Wednesday, November 12th. 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 report on Thursday, December 18th. Finally, Morgan Stanley reissued a “positive” rating on shares of Parker-Hannifin in a research report on Wednesday, January 14th. Seventeen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, Parker-Hannifin presently has a consensus rating of “Moderate Buy” and a consensus target price of $950.17.

Parker-Hannifin Stock Down 1.2%

PH opened at $927.58 on Friday. Parker-Hannifin Corporation has a twelve month low of $488.45 and a twelve month high of $954.30. The company has a quick ratio of 0.61, a current ratio of 1.07 and a debt-to-equity ratio of 0.54. The firm has a 50 day moving average price of $886.56 and a 200-day moving average price of $798.60. The stock has a market capitalization of $117.05 billion, a price-to-earnings ratio of 33.05, a PEG ratio of 3.27 and a beta of 1.25.

Parker-Hannifin (NYSE:PH) last announced its earnings results on Thursday, November 6th. The industrial products company reported $7.22 earnings per share for the quarter, beating analysts’ consensus estimates of $6.62 by $0.60. Parker-Hannifin had a net margin of 18.17% and a return on equity of 27.23%. The business had revenue of $5.08 billion during the quarter, compared to analyst estimates of $4.94 billion. During the same period in the previous year, the business earned $6.20 EPS. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. 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 forecast that Parker-Hannifin Corporation will post 26.71 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 6th. Shareholders of record on Friday, February 6th will be paid a dividend of $1.80 per share. This represents a $7.20 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Friday, February 6th. Parker-Hannifin’s payout ratio is currently 25.65%.

Insider Activity

In other news, COO Andrew D. Ross sold 2,488 shares of the stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $894.81, for a total value of $2,226,287.28. Following the transaction, the chief operating officer owned 13,120 shares in the company, valued at $11,739,907.20. This represents a 15.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Rachid Bendali sold 1,437 shares of the business’s stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $852.99, for a total transaction of $1,225,746.63. Following the sale, the vice president owned 2,714 shares of the company’s stock, valued at $2,315,014.86. This trade represents a 34.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 7,432 shares of company stock valued at $6,484,116 in the last quarter. 0.32% of the stock is currently owned by insiders.

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.