Man Group plc grew its stake in shares of Parker-Hannifin Corporation (NYSE:PH – Free Report) by 67.3% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 160,372 shares of the industrial products company’s stock after buying an additional 64,507 shares during the quarter. Man Group plc owned approximately 0.13% of Parker-Hannifin worth $156,863,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Texas Capital Bancshares Inc TX acquired a new stake in shares of Parker-Hannifin during the third quarter valued at about $25,000. HFM Investment Advisors LLC increased its stake in shares of Parker-Hannifin by 1,000.0% in the fourth quarter. HFM Investment Advisors LLC now owns 33 shares of the industrial products company’s stock valued at $29,000 after buying an additional 30 shares during the period. Lloyd Advisory Services LLC. acquired a new position in shares of Parker-Hannifin in the fourth quarter valued at approximately $31,000. NFSG Corp raised its holdings in Parker-Hannifin by 94.4% in the 1st quarter. NFSG Corp now owns 35 shares of the industrial products company’s stock valued at $31,000 after buying an additional 17 shares during the last quarter. Finally, First Command Advisory Services Inc. raised its holdings in Parker-Hannifin by 1,133.3% in the 4th quarter. First Command Advisory Services Inc. now owns 37 shares of the industrial products company’s stock valued at $33,000 after buying an additional 34 shares during the last quarter. 82.44% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of equities research analysts have weighed in on the stock. BMO Capital Markets reissued an “outperform” rating and set a $1,214.00 target price on shares of Parker-Hannifin in a report on Friday, August 7th. Wells Fargo & Company dropped their price target on shares of Parker-Hannifin from $980.00 to $950.00 and set an “overweight” rating for the company in a research note on Tuesday, May 26th. Wall Street Zen lowered shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a report on Saturday. Stifel Nicolaus set a $1,075.00 price target on shares of Parker-Hannifin in a report on Friday, August 7th. Finally, Mizuho set a $1,050.00 price objective on shares of Parker-Hannifin in a research note on Friday, May 1st. Seventeen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $1,100.00.
Parker-Hannifin Stock Performance
Shares of Parker-Hannifin stock opened at $1,015.36 on Wednesday. The business has a 50-day moving average price of $987.88 and a two-hundred day moving average price of $949.41. Parker-Hannifin Corporation has a 1-year low of $715.37 and a 1-year high of $1,099.94. The company has a current ratio of 1.26, a quick ratio of 0.74 and a debt-to-equity ratio of 0.44. The company has a market cap of $127.99 billion, a P/E ratio of 35.64, a PEG ratio of 2.64 and a beta of 1.12.
Parker-Hannifin (NYSE:PH – Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The industrial products company reported $9.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.31 by $0.96. Parker-Hannifin had a return on equity of 28.48% and a net margin of 16.97%.The company had revenue of $5.75 billion for the quarter, compared to the consensus estimate of $5.57 billion. During the same period in the previous year, the business earned $7.69 EPS. The firm’s revenue was up 9.8% compared to the same quarter last year. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. As a group, analysts anticipate that Parker-Hannifin Corporation will post 34.93 EPS for the current year.
Parker-Hannifin Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Monday, August 31st will be issued a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Monday, August 31st. Parker-Hannifin’s dividend payout ratio is presently 28.08%.
Parker-Hannifin Company Profile
Parker-Hannifin Corporation (NYSE: PH) is a global manufacturer and provider of motion and control technologies and systems. The company designs, manufactures and services a broad range of engineered components and systems used to control the movement and flow of liquids, gases and hydraulic power. Its product portfolio is applied across demanding environments and includes solutions for industrial manufacturing, aerospace, mobile equipment and other engineered applications.
Parker-Hannifin’s product and service offerings span hydraulic and pneumatic components, fittings and fluid connectors, valves, pumps and motors, electromechanical actuators and motion-control systems, filtration and separation products, and seals and sealing systems.
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