Empowered Funds LLC bought a new stake in Parker-Hannifin Corporation (NYSE:PH – Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 24,163 shares of the industrial products company’s stock, valued at approximately $23,634,000.
Several other institutional investors have also recently bought and sold shares of the company. Texas Capital Bancshares Inc TX bought a new stake in shares of Parker-Hannifin in the third quarter worth $25,000. HFM Investment Advisors LLC increased its stake in Parker-Hannifin by 1,000.0% in the 4th 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 last quarter. Lloyd Advisory Services LLC. acquired a new stake in Parker-Hannifin in the 4th quarter valued at $31,000. NFSG Corp lifted its position in Parker-Hannifin by 94.4% during the 1st quarter. NFSG Corp now owns 35 shares of the industrial products company’s stock worth $31,000 after buying an additional 17 shares in the last quarter. Finally, First Command Advisory Services Inc. boosted its stake in shares of Parker-Hannifin by 1,133.3% during the 4th quarter. First Command Advisory Services Inc. now owns 37 shares of the industrial products company’s stock worth $33,000 after buying an additional 34 shares during the last quarter. Institutional investors own 82.44% of the company’s stock.
Wall Street Analyst Weigh In
PH has been the subject of several analyst reports. BNP Paribas Exane restated an “outperform” rating and issued a $1,220.00 price objective (up from $1,090.00) on shares of Parker-Hannifin in a report on Friday, August 7th. Weiss Ratings reiterated a “buy (b)” rating on shares of Parker-Hannifin in a report on Friday, July 17th. Sanford C. Bernstein increased their price target 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. Mizuho set a $1,050.00 price target on Parker-Hannifin in a research report on Friday, May 1st. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $1,214.00 price objective on shares of Parker-Hannifin in a research note on Friday, August 7th. Seventeen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Parker-Hannifin has an average rating of “Moderate Buy” and an average target price of $1,100.00.
Parker-Hannifin Stock Down 2.8%
Shares of PH stock opened at $1,010.69 on Friday. 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’s 50-day moving average is $990.89 and its 200-day moving average is $950.16. The stock has a market cap of $127.40 billion, a price-to-earnings ratio of 35.48, a PEG ratio of 2.71 and a beta of 1.12. Parker-Hannifin Corporation has a 52-week low of $715.37 and a 52-week high of $1,099.94.
Parker-Hannifin (NYSE:PH – Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The industrial products company reported $9.27 EPS for the quarter, topping analysts’ consensus estimates of $8.31 by $0.96. The business had revenue of $5.75 billion during the quarter, compared to analysts’ expectations of $5.57 billion. Parker-Hannifin had a return on equity of 28.48% and a net margin of 16.97%.Parker-Hannifin’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the company posted $7.69 earnings per share. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. Sell-side analysts predict that Parker-Hannifin Corporation will post 34.93 EPS for the current year.
Parker-Hannifin Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Monday, August 31st will be paid a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Monday, August 31st. Parker-Hannifin’s payout ratio is currently 28.08%.
Parker-Hannifin 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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