Savvy Advisors Inc. Buys 346 Shares of Parker-Hannifin Corporation $PH

Savvy Advisors Inc. grew its stake in Parker-Hannifin Corporation (NYSE:PH) by 32.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,418 shares of the industrial products company’s stock after buying an additional 346 shares during the period. Savvy Advisors Inc.’s holdings in Parker-Hannifin were worth $991,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Brighton Jones LLC raised its position in Parker-Hannifin by 5.9% during the fourth quarter. Brighton Jones LLC now owns 1,808 shares of the industrial products company’s stock valued at $1,150,000 after purchasing an additional 101 shares in the last quarter. Bison Wealth LLC boosted its holdings in shares of Parker-Hannifin by 4.5% in the 4th quarter. Bison Wealth LLC now owns 749 shares of the industrial products company’s stock worth $476,000 after purchasing an additional 32 shares in the last quarter. Vontobel Holding Ltd. increased its position in shares of Parker-Hannifin by 12.9% during the 1st quarter. Vontobel Holding Ltd. now owns 10,790 shares of the industrial products company’s stock valued at $6,559,000 after purchasing an additional 1,231 shares during the last quarter. DAVENPORT & Co LLC raised its holdings in shares of Parker-Hannifin by 2.3% during the 1st quarter. DAVENPORT & Co LLC now owns 5,721 shares of the industrial products company’s stock valued at $3,478,000 after buying an additional 127 shares in the last quarter. Finally, Rossby Financial LCC bought a new stake in Parker-Hannifin in the 1st quarter worth approximately $69,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Analysts Set New Price Targets

PH has been the topic of a number of recent research reports. Citigroup increased their price target on shares of Parker-Hannifin from $831.00 to $874.00 and gave the company a “buy” rating in a research report on Thursday, October 9th. Barclays increased their target price 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. Susquehanna initiated coverage on shares of Parker-Hannifin in a research note on Friday, August 15th. They issued a “positive” rating and a $860.00 price target for the company. Truist Financial raised their price objective on Parker-Hannifin from $822.00 to $910.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Finally, Stifel Nicolaus decreased their price objective on Parker-Hannifin from $726.00 to $723.00 and set a “hold” rating on the stock in a report on Monday, October 20th. Fourteen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, Parker-Hannifin currently has an average rating of “Moderate Buy” and an average target price of $789.67.

Insider Activity at Parker-Hannifin

In related news, EVP Joseph R. Leonti sold 4,625 shares of the stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $750.84, for a total value of $3,472,635.00. Following the completion of the transaction, the executive vice president directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Andrew D. Ross sold 4,361 shares of the company’s stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $732.66, for a total value of $3,195,130.26. Following the transaction, the chief operating officer owned 13,120 shares in the company, valued at $9,612,499.20. This trade represents a 24.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 14,039 shares of company stock valued at $10,356,566 over the last three months. Corporate insiders own 0.32% of the company’s stock.

Parker-Hannifin Trading Down 0.2%

PH opened at $773.47 on Friday. Parker-Hannifin Corporation has a one year low of $488.45 and a one year high of $792.53. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.19 and a quick ratio of 0.71. The business has a 50 day simple moving average of $754.33 and a two-hundred day simple moving average of $702.74. The firm has a market capitalization of $97.88 billion, a price-to-earnings ratio of 28.52, a PEG ratio of 3.21 and a beta of 1.35.

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

Parker-Hannifin Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Friday, November 7th will be paid a dividend of $1.80 per share. The ex-dividend date of this dividend is Friday, November 7th. This represents a $7.20 dividend on an annualized basis and a dividend yield of 0.9%. Parker-Hannifin’s payout ratio is presently 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.