Bank of Montreal Can Sells 45,460 Shares of Parker-Hannifin Corporation $PH

Bank of Montreal Can trimmed its position in Parker-Hannifin Corporation (NYSE:PH) by 6.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 625,828 shares of the industrial products company’s stock after selling 45,460 shares during the period. Bank of Montreal Can’s holdings in Parker-Hannifin were worth $437,122,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Inspire Investing LLC increased its position in Parker-Hannifin by 5.1% during the first quarter. Inspire Investing LLC now owns 12,386 shares of the industrial products company’s stock worth $7,529,000 after buying an additional 596 shares during the last quarter. Geneos Wealth Management Inc. lifted its position in shares of Parker-Hannifin by 20.9% in the first quarter. Geneos Wealth Management Inc. now owns 2,194 shares of the industrial products company’s stock valued at $1,334,000 after buying an additional 379 shares during the last quarter. Banco Santander S.A. boosted its stake in shares of Parker-Hannifin by 70.2% during the 1st quarter. Banco Santander S.A. now owns 35,645 shares of the industrial products company’s stock worth $21,667,000 after acquiring an additional 14,705 shares during the period. Citizens Financial Group Inc. RI increased its holdings in shares of Parker-Hannifin by 10.6% during the 1st quarter. Citizens Financial Group Inc. RI now owns 32,935 shares of the industrial products company’s stock worth $20,020,000 after acquiring an additional 3,147 shares during the last quarter. Finally, Truist Financial Corp raised its stake in Parker-Hannifin by 4.0% in the 1st quarter. Truist Financial Corp now owns 160,224 shares of the industrial products company’s stock valued at $97,392,000 after acquiring an additional 6,226 shares during the period. 82.44% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Parker-Hannifin

In related news, VP Angela R. Ives sold 810 shares of the company’s stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $727.36, for a total transaction of $589,161.60. Following the completion of the sale, the vice president owned 2,798 shares of the company’s stock, valued at $2,035,153.28. This represents a 22.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Joseph R. Leonti sold 4,625 shares of the stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $750.84, for a total transaction of $3,472,635.00. Following the sale, the executive vice president owned 13,878 shares in the company, valued at $10,420,157.52. The trade was a 25.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 14,039 shares of company stock worth $10,356,566 in the last quarter. 0.32% of the stock is currently owned by corporate insiders.

Parker-Hannifin Stock Performance

NYSE PH opened at $772.88 on Monday. The firm has a 50-day moving average price of $754.74 and a two-hundred day moving average price of $706.13. Parker-Hannifin Corporation has a 12-month low of $488.45 and a 12-month high of $792.53. The company has a market capitalization of $97.80 billion, a P/E ratio of 28.50, a P/E/G ratio of 3.21 and a beta of 1.35. 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 released its quarterly earnings results on Thursday, August 7th. The industrial products company reported $7.69 earnings per share 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 net margin of 17.79% and a return on equity of 26.80%. The firm’s quarterly revenue was up 1.1% on a year-over-year basis. During the same period in the previous year, the business earned $6.77 earnings per share. Parker-Hannifin has set its FY 2026 guidance at 28.400-29.400 EPS. Analysts anticipate that Parker-Hannifin Corporation will post 26.71 earnings per share 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 given a dividend of $1.80 per share. This represents a $7.20 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Friday, November 7th. Parker-Hannifin’s dividend payout ratio is presently 26.55%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. 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 report on Wednesday, July 9th. Citigroup raised their target price on shares of Parker-Hannifin from $831.00 to $874.00 and gave the stock a “buy” rating in a research note on Thursday, October 9th. Truist Financial upped their price target on shares of Parker-Hannifin from $822.00 to $910.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Raymond James Financial increased their price target on shares of Parker-Hannifin from $735.00 to $845.00 and gave the company an “outperform” rating in a report on Friday, August 8th. Finally, Wells Fargo & Company boosted their price objective on Parker-Hannifin from $800.00 to $840.00 and gave the stock an “overweight” rating in a report on Monday, October 6th. Thirteen equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $794.35.

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.