Segment Wealth Management LLC Sells 269 Shares of Parker-Hannifin Corporation $PH

Segment Wealth Management LLC reduced its stake in shares of Parker-Hannifin Corporation (NYSE:PH) by 0.9% during the 2nd quarter, HoldingsChannel reports. The fund owned 28,076 shares of the industrial products company’s stock after selling 269 shares during the period. Parker-Hannifin accounts for about 1.2% of Segment Wealth Management LLC’s holdings, making the stock its 22nd largest position. Segment Wealth Management LLC’s holdings in Parker-Hannifin were worth $19,610,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Wealth Preservation Advisors LLC bought a new stake in Parker-Hannifin during the first quarter worth approximately $27,000. Saudi Central Bank bought a new stake in Parker-Hannifin during the first quarter worth approximately $31,000. Olde Wealth Management LLC bought a new stake in Parker-Hannifin during the first quarter worth approximately $35,000. Chilton Capital Management LLC increased its stake in Parker-Hannifin by 1,500.0% during the first quarter. Chilton Capital Management LLC now owns 64 shares of the industrial products company’s stock worth $39,000 after acquiring an additional 60 shares during the last quarter. Finally, Accent Capital Management LLC bought a new stake in Parker-Hannifin during the first quarter worth approximately $41,000. 82.44% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, EVP Joseph R. Leonti sold 4,625 shares of the stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $750.84, for a total value of $3,472,635.00. Following the transaction, the executive vice president owned 13,878 shares of the company’s stock, valued at $10,420,157.52. This represents a 25.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Thomas C. Gentile sold 1,133 shares of Parker-Hannifin stock in a transaction on Friday, August 8th. The shares were sold at an average price of $729.50, for a total value of $826,523.50. Following the completion of the transaction, the vice president owned 5,465 shares in the company, valued at $3,986,717.50. This represents a 17.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 14,039 shares of company stock valued at $10,356,566 over the last 90 days. 0.32% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

PH has been the topic of several analyst reports. Susquehanna initiated coverage on Parker-Hannifin in a research note on Friday, August 15th. They set a “positive” rating and a $860.00 price objective on the stock. Citigroup reaffirmed a “buy” rating and set a $831.00 target price (up previously from $709.00) on shares of Parker-Hannifin in a research note on Monday, July 14th. Wall Street Zen raised Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Saturday, September 20th. KeyCorp upped their target price on Parker-Hannifin from $790.00 to $810.00 and gave the company an “overweight” rating in a research note on Friday, August 8th. Finally, Wells Fargo & Company upped their target price on Parker-Hannifin from $770.00 to $800.00 and gave the company an “overweight” rating in a research note on Friday, August 8th. Fourteen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $771.44.

Parker-Hannifin Stock Up 0.7%

Shares of NYSE:PH opened at $763.72 on Friday. Parker-Hannifin Corporation has a 52-week low of $488.45 and a 52-week high of $779.77. The stock has a market cap of $96.64 billion, a P/E ratio of 28.16, a price-to-earnings-growth ratio of 3.14 and a beta of 1.35. The business’s 50 day moving average is $747.47 and its 200 day moving average is $681.34. The company has a quick ratio of 0.71, a current ratio of 1.19 and a debt-to-equity ratio of 0.55.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, August 7th. The industrial products company reported $7.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.08 by $0.61. Parker-Hannifin had a return on equity of 26.80% and a net margin of 17.79%.The company had revenue of $5.24 billion for the quarter, compared to analysts’ expectations of $5.10 billion. During the same quarter in the prior year, the firm earned $6.77 earnings per share. Parker-Hannifin’s revenue was up 1.1% compared to the same quarter last year. Parker-Hannifin has set its FY 2026 guidance at 28.400-29.400 EPS. Sell-side analysts predict that Parker-Hannifin Corporation will post 26.71 EPS for the current year.

Parker-Hannifin Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Tuesday, September 2nd were paid a $1.80 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $7.20 annualized dividend and a yield of 0.9%. Parker-Hannifin’s dividend payout ratio is 26.55%.

Parker-Hannifin Company Profile

Parker-Hannifin Corporation manufactures and sells motion and control technologies and systems for various mobile, industrial, and aerospace markets worldwide. The company operates through two segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial segment offers sealing, shielding, thermal products and systems, adhesives, coatings, and noise vibration and harshness solutions; filters, systems, and diagnostics solutions to ensure purity and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors used in fluid and gas handling; and hydraulic, pneumatic, and electromechanical components and systems for builders and users of mobile and industrial machinery and equipment.