Optas LLC Buys New Position in Parker-Hannifin Corporation $PH

Optas LLC bought a new stake in Parker-Hannifin Corporation (NYSE:PH) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 313 shares of the industrial products company’s stock, valued at approximately $219,000.

Several other institutional investors have also recently added to or reduced their stakes in PH. Nuveen LLC acquired a new position in Parker-Hannifin in the 1st quarter valued at about $933,089,000. Price T Rowe Associates Inc. MD raised its stake in Parker-Hannifin by 52.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,443,104 shares of the industrial products company’s stock valued at $1,485,042,000 after purchasing an additional 842,262 shares during the last quarter. Wellington Management Group LLP raised its stake in Parker-Hannifin by 11.6% in the 1st quarter. Wellington Management Group LLP now owns 2,009,250 shares of the industrial products company’s stock valued at $1,221,323,000 after purchasing an additional 208,573 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Parker-Hannifin by 23.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 996,738 shares of the industrial products company’s stock valued at $605,867,000 after purchasing an additional 191,799 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Parker-Hannifin by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 11,023,764 shares of the industrial products company’s stock valued at $6,700,795,000 after acquiring an additional 168,990 shares during the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on PH. Cowen reaffirmed a “hold” rating on shares of Parker-Hannifin in a research note on Friday, August 29th. Evercore ISI reaffirmed an “outperform” rating on shares of Parker-Hannifin in a research note on Tuesday, August 19th. Susquehanna began coverage on shares of Parker-Hannifin in a research note on Friday, August 15th. They set a “positive” rating and a $860.00 price objective for the company. Wells Fargo & Company upped their price objective on shares of Parker-Hannifin from $800.00 to $840.00 and gave the company an “overweight” rating in a research note on Monday, October 6th. Finally, Truist Financial upped their price objective on shares of Parker-Hannifin from $822.00 to $910.00 and gave the company a “buy” rating in a research note on Wednesday. Fourteen research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, Parker-Hannifin presently has a consensus rating of “Moderate Buy” and an average price target of $786.78.

Parker-Hannifin Stock Down 3.0%

Shares of NYSE:PH opened at $716.31 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.71 and a current ratio of 1.19. Parker-Hannifin Corporation has a 1 year low of $488.45 and a 1 year high of $779.77. The stock has a market capitalization of $90.64 billion, a P/E ratio of 26.41, a PEG ratio of 3.06 and a beta of 1.35. The stock has a 50-day simple moving average of $748.97 and a 200-day simple moving average of $685.15.

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

Parker-Hannifin Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Tuesday, September 2nd were issued a $1.80 dividend. This represents a $7.20 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date was Tuesday, September 2nd. Parker-Hannifin’s dividend payout ratio is currently 26.55%.

Insider Transactions at Parker-Hannifin

In other Parker-Hannifin news, VP Angela R. Ives sold 810 shares of the company’s stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $727.36, for a total value of $589,161.60. Following the completion of the transaction, the vice president owned 2,798 shares in the company, valued at $2,035,153.28. This represents a 22.45% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Thomas C. Gentile sold 1,133 shares of the company’s stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $729.50, for a total value of $826,523.50. Following the completion of the transaction, the vice president owned 5,465 shares of the company’s stock, valued at approximately $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 14,039 shares of company stock worth $10,356,566 over the last 90 days. 0.32% of the stock is owned by corporate insiders.

Parker-Hannifin 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.