Envestnet Portfolio Solutions Inc. Acquires 351 Shares of Parker-Hannifin Corporation $PH

Envestnet Portfolio Solutions Inc. grew its holdings in shares of Parker-Hannifin Corporation (NYSE:PH) by 2.4% during the second quarter, Holdings Channel reports. The firm owned 14,721 shares of the industrial products company’s stock after purchasing an additional 351 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Parker-Hannifin were worth $10,282,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of PH. Wealth Preservation Advisors LLC bought a new position in Parker-Hannifin in the 1st quarter worth $27,000. Saudi Central Bank bought a new position in Parker-Hannifin in the 1st quarter worth $31,000. Olde Wealth Management LLC bought a new position in Parker-Hannifin in the 1st quarter worth $35,000. Chilton Capital Management LLC raised its holdings in Parker-Hannifin by 1,500.0% in the 1st 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 period. Finally, Accent Capital Management LLC bought a new position in Parker-Hannifin in the 1st quarter worth $41,000. Institutional investors own 82.44% of the company’s stock.

Wall Street Analyst Weigh In

PH has been the topic of several recent analyst reports. Susquehanna initiated coverage on shares of Parker-Hannifin in a report on Friday, August 15th. They issued a “positive” rating and a $860.00 target price on the stock. Stifel Nicolaus raised their price target on shares of Parker-Hannifin from $717.00 to $726.00 and gave the stock a “hold” rating in a research report on Friday, August 8th. Wall Street Zen upgraded shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Saturday, September 20th. Evercore ISI restated an “outperform” rating on shares of Parker-Hannifin in a research report on Tuesday, August 19th. Finally, Morgan Stanley raised their price target on shares of Parker-Hannifin from $700.00 to $725.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 9th. Fourteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $786.78.

Insider Buying and Selling at Parker-Hannifin

In other news, COO Andrew D. Ross sold 4,361 shares of Parker-Hannifin stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $732.66, for a total transaction of $3,195,130.26. Following the sale, the chief operating officer directly owned 13,120 shares in the company, valued at approximately $9,612,499.20. The trade was a 24.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Robert W. Malone sold 2,257 shares of Parker-Hannifin stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $730.66, for a total transaction of $1,649,099.62. Following the sale, the vice president owned 5,866 shares in the company, valued at approximately $4,286,051.56. This trade represents a 27.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 14,039 shares of company stock worth $10,356,566 in the last 90 days. 0.32% of the stock is currently owned by insiders.

Parker-Hannifin Price Performance

Shares of Parker-Hannifin stock opened at $728.67 on Tuesday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.71 and a current ratio of 1.19. The firm’s 50-day simple moving average is $749.16 and its 200-day simple moving average is $686.79. Parker-Hannifin Corporation has a twelve month low of $488.45 and a twelve month high of $779.77. The firm has a market cap of $92.21 billion, a P/E ratio of 26.87, a price-to-earnings-growth ratio of 2.97 and a beta of 1.35.

Parker-Hannifin (NYSE:PH) last issued its earnings results on Thursday, August 7th. The industrial products company reported $7.69 earnings per share for the quarter, beating the consensus estimate of $7.08 by $0.61. Parker-Hannifin had a net margin of 17.79% and a return on equity of 26.80%. The business had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.10 billion. During the same period in the previous year, the business earned $6.77 EPS. The firm’s revenue was up 1.1% on a year-over-year basis. Parker-Hannifin has set its FY 2026 guidance at 28.400-29.400 EPS. As a group, research analysts expect that Parker-Hannifin Corporation will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Tuesday, September 2nd were given a dividend of $1.80 per share. This represents a $7.20 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Tuesday, September 2nd. Parker-Hannifin’s payout ratio is 26.55%.

About Parker-Hannifin

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.