Pure Financial Advisors LLC bought a new stake in shares of Parker-Hannifin Corporation (NYSE:PH – Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 1,041 shares of the industrial products company’s stock, valued at approximately $1,018,000.
A number of other institutional investors and hedge funds have also recently modified their holdings of PH. E Fund Management Co. Ltd. raised its stake in Parker-Hannifin by 2.1% during the second quarter. E Fund Management Co. Ltd. now owns 477 shares of the industrial products company’s stock valued at $467,000 after purchasing an additional 10 shares in the last quarter. Optas LLC raised its position in shares of Parker-Hannifin by 3.1% during the 1st quarter. Optas LLC now owns 370 shares of the industrial products company’s stock valued at $331,000 after buying an additional 11 shares in the last quarter. Moneta Group Investment Advisors LLC lifted its holdings in shares of Parker-Hannifin by 1.8% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 614 shares of the industrial products company’s stock valued at $540,000 after acquiring an additional 11 shares during the last quarter. Inspire Advisors LLC grew its position in Parker-Hannifin by 1.2% in the fourth quarter. Inspire Advisors LLC now owns 917 shares of the industrial products company’s stock worth $807,000 after acquiring an additional 11 shares in the last quarter. Finally, RFG Advisory LLC increased its stake in Parker-Hannifin by 0.3% during the first quarter. RFG Advisory LLC now owns 3,740 shares of the industrial products company’s stock worth $3,348,000 after acquiring an additional 12 shares during the last quarter. 82.44% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of brokerages have issued reports on PH. Sanford C. Bernstein upped their price objective on Parker-Hannifin from $1,037.00 to $1,218.00 and gave the company an “outperform” rating in a research report on Friday, August 14th. BNP Paribas Exane reissued an “outperform” rating and set a $1,220.00 target price (up from $1,090.00) on shares of Parker-Hannifin in a research report on Friday, August 7th. Wall Street Zen lowered Parker-Hannifin from a “buy” rating to a “hold” rating in a report on Saturday, August 22nd. Stifel Nicolaus set a $1,075.00 price objective on shares of Parker-Hannifin in a research note on Friday, August 7th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Parker-Hannifin in a research report on Friday, July 17th. Seventeen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $1,100.00.
Parker-Hannifin Price Performance
Shares of PH stock opened at $1,040.76 on Thursday. Parker-Hannifin Corporation has a 52-week low of $715.37 and a 52-week high of $1,099.94. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.74 and a current ratio of 1.26. The firm has a market capitalization of $131.19 billion, a P/E ratio of 36.53, a P/E/G ratio of 2.65 and a beta of 1.12. The stock has a 50 day moving average price of $989.76 and a 200 day moving average price of $949.93.
Parker-Hannifin (NYSE:PH – Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The industrial products company reported $9.27 EPS for the quarter, beating the consensus estimate 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 quarter in the prior year, the company posted $7.69 EPS. Parker-Hannifin’s quarterly revenue was up 9.8% on a year-over-year basis. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. As a group, sell-side analysts predict that Parker-Hannifin Corporation will post 34.93 earnings per share for the current year.
Parker-Hannifin Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Monday, August 31st will be issued a $2.00 dividend. The ex-dividend date is Monday, August 31st. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.8%. 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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