King Wealth Management Group Has $10.34 Million Stake in Parker-Hannifin Corporation $PH

King Wealth Management Group raised its stake in shares of Parker-Hannifin Corporation (NYSE:PH) by 2.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,804 shares of the industrial products company’s stock after purchasing an additional 294 shares during the quarter. Parker-Hannifin accounts for 1.4% of King Wealth Management Group’s portfolio, making the stock its 20th largest holding. King Wealth Management Group’s holdings in Parker-Hannifin were worth $10,340,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Wealth Preservation Advisors LLC bought a new position in shares of Parker-Hannifin in the first quarter valued at approximately $27,000. Interchange Capital Partners LLC acquired a new position in Parker-Hannifin in the second quarter worth $31,000. Saudi Central Bank bought a new stake in shares of Parker-Hannifin during the first quarter worth $31,000. Princeton Global Asset Management LLC grew its holdings in shares of Parker-Hannifin by 56.1% during the second quarter. Princeton Global Asset Management LLC now owns 64 shares of the industrial products company’s stock worth $45,000 after purchasing an additional 23 shares during the last quarter. Finally, Accent Capital Management LLC acquired a new stake in shares of Parker-Hannifin in the first quarter valued at $41,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Joseph R. Leonti sold 4,625 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at approximately $10,420,157.52. This trade represents a 25.00% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.32% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on PH shares. Stifel Nicolaus reduced their price target on shares of Parker-Hannifin from $726.00 to $723.00 and set a “hold” rating on the stock in a research report on Monday, October 20th. Mizuho increased their price target on shares of Parker-Hannifin from $800.00 to $825.00 and gave the company an “outperform” rating in a research note on Friday, October 17th. Weiss Ratings restated a “buy (b)” rating on shares of Parker-Hannifin in a research report on Wednesday, October 8th. Truist Financial reaffirmed a “buy” rating and set a $977.00 price objective (up previously from $910.00) on shares of Parker-Hannifin in a report on Friday, November 7th. Finally, Wells Fargo & Company increased their price objective on Parker-Hannifin from $840.00 to $925.00 and gave the company an “overweight” rating in a research report on Friday, November 7th. Fourteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $860.71.

Parker-Hannifin Trading Down 1.4%

NYSE PH opened at $842.71 on Friday. Parker-Hannifin Corporation has a 12 month low of $488.45 and a 12 month high of $869.36. The stock has a 50-day simple moving average of $766.10 and a 200 day simple moving average of $719.77. 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 company has a market capitalization of $106.64 billion, a PE ratio of 31.07, a P/E/G ratio of 3.21 and a beta of 1.37.

Parker-Hannifin (NYSE:PH) last posted its earnings results on Thursday, November 6th. The industrial products company reported $7.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.62 by $0.60. The company had revenue of $5.08 billion during the quarter, compared to analyst estimates of $4.94 billion. Parker-Hannifin had a return on equity of 26.80% and a net margin of 17.79%.The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period in the previous year, the company earned $6.20 EPS. Parker-Hannifin has set its FY 2026 guidance at 29.600-30.400 EPS. FY 2026 guidance at 29.600-30.400 EPS. Research analysts forecast that Parker-Hannifin Corporation will post 26.71 EPS for the current year.

Parker-Hannifin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Shareholders of record on Friday, November 7th will be paid a $1.80 dividend. This represents a $7.20 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Friday, November 7th. Parker-Hannifin’s dividend payout ratio is presently 25.65%.

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.