Princeton Global Asset Management LLC Buys 23 Shares of Parker-Hannifin Corporation $PH

Princeton Global Asset Management LLC increased its stake in shares of Parker-Hannifin Corporation (NYSE:PH) by 56.1% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 64 shares of the industrial products company’s stock after acquiring an additional 23 shares during the quarter. Princeton Global Asset Management LLC’s holdings in Parker-Hannifin were worth $45,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of PH. Wealth Preservation Advisors LLC bought a new position in shares of Parker-Hannifin during the 1st quarter valued at about $27,000. Interchange Capital Partners LLC purchased a new stake in shares of Parker-Hannifin in the second quarter worth about $31,000. Saudi Central Bank bought a new position in Parker-Hannifin during the first quarter valued at approximately $31,000. Olde Wealth Management LLC bought a new position in Parker-Hannifin during the first quarter valued at approximately $35,000. Finally, Chilton Capital Management LLC grew its holdings in Parker-Hannifin by 1,500.0% during the 1st quarter. Chilton Capital Management LLC now owns 64 shares of the industrial products company’s stock valued at $39,000 after buying an additional 60 shares in the last quarter. 82.44% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Parker-Hannifin in a research report on Wednesday, October 8th. Evercore ISI reaffirmed an “outperform” rating on shares of Parker-Hannifin in a research note on Tuesday, August 19th. Morgan Stanley lifted their price objective on shares of Parker-Hannifin from $700.00 to $725.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 9th. Wells Fargo & Company upped their target price on shares of Parker-Hannifin from $800.00 to $840.00 and gave the company an “overweight” rating in a research report on Monday, October 6th. Finally, Barclays increased their price target on shares of Parker-Hannifin from $776.00 to $785.00 and gave the company an “overweight” rating in a report on Wednesday, October 1st. 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.com, the company currently has an average rating of “Moderate Buy” and an average price target of $789.67.

Insider Buying and Selling

In other news, VP Robert W. Malone sold 2,257 shares of the business’s stock in a transaction on 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 completion of the sale, the vice president directly owned 5,866 shares of the company’s stock, valued at approximately $4,286,051.56. The trade was a 27.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Thomas C. Gentile sold 1,133 shares of the firm’s stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $729.50, for a total transaction of $826,523.50. Following the completion of the transaction, the vice president directly owned 5,465 shares in the company, valued at $3,986,717.50. This represents a 17.17% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 14,039 shares of company stock worth $10,356,566 over the last ninety days. Corporate insiders own 0.32% of the company’s stock.

Parker-Hannifin Price Performance

Parker-Hannifin stock opened at $740.55 on Tuesday. Parker-Hannifin Corporation has a 12-month low of $488.45 and a 12-month high of $779.77. The company has a current ratio of 1.19, a quick ratio of 0.71 and a debt-to-equity ratio of 0.55. The firm has a 50-day moving average price of $750.70 and a 200-day moving average price of $692.04. The firm has a market capitalization of $93.71 billion, a PE ratio of 27.31, a price-to-earnings-growth ratio of 3.03 and a beta of 1.35.

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

Parker-Hannifin Announces Dividend

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