TD Waterhouse Canada Inc. boosted its position in Parker-Hannifin Corporation (NYSE:PH – Free Report) by 1.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 55,368 shares of the industrial products company’s stock after acquiring an additional 706 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in Parker-Hannifin were worth $53,411,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in PH. Concurrent Investment Advisors LLC increased its position in shares of Parker-Hannifin by 7.3% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 7,332 shares of the industrial products company’s stock valued at $7,172,000 after purchasing an additional 502 shares during the last quarter. NEOS Investment Management LLC grew its stake in shares of Parker-Hannifin by 14.0% during the second quarter. NEOS Investment Management LLC now owns 20,619 shares of the industrial products company’s stock worth $20,168,000 after purchasing an additional 2,526 shares in the last quarter. Power Wealth Management LLC purchased a new position in Parker-Hannifin in the second quarter valued at $439,000. Beacon Capital Management LLC purchased a new position in Parker-Hannifin in the second quarter valued at $205,000. Finally, Continuum Advisory LLC raised its stake in Parker-Hannifin by 4.5% in the second quarter. Continuum Advisory LLC now owns 695 shares of the industrial products company’s stock valued at $680,000 after buying an additional 30 shares in the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.
Insider Buying and Selling
In other Parker-Hannifin news, VP Berend Bracht sold 602 shares of the company’s stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $1,040.47, for a total transaction of $626,362.94. Following the completion of the sale, the vice president directly owned 4,399 shares of the company’s stock, valued at $4,577,027.53. This represents a 12.04% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.32% of the stock is currently owned by corporate insiders.
Parker-Hannifin Stock Performance
Parker-Hannifin (NYSE:PH – Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The industrial products company reported $9.27 earnings per share for the quarter, topping analysts’ consensus estimates of $8.31 by $0.96. Parker-Hannifin had a net margin of 16.97% and a return on equity of 28.48%. The firm had revenue of $5.75 billion during the quarter, compared to analysts’ expectations of $5.57 billion. During the same quarter in the prior year, the business earned $7.69 EPS. Parker-Hannifin’s quarterly 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, equities analysts predict that Parker-Hannifin Corporation will post 34.83 EPS for the current year.
Parker-Hannifin Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Monday, August 31st will be given a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 0.8%. The ex-dividend date is Monday, August 31st. Parker-Hannifin’s payout ratio is 28.08%.
Analysts Set New Price Targets
Several research firms have recently issued reports on PH. BMO Capital Markets reaffirmed an “outperform” rating and set a $1,214.00 price objective on shares of Parker-Hannifin in a research report on Friday, August 7th. BNP Paribas Exane reiterated an “outperform” rating and issued a $1,220.00 price target (up from $1,090.00) on shares of Parker-Hannifin in a research note on Friday, August 7th. Citigroup raised their price objective on shares of Parker-Hannifin from $1,141.00 to $1,232.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Sanford C. Bernstein increased their target price on shares of 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. Finally, Wall Street Zen downgraded shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a research note on Saturday, August 22nd. Seventeen investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $1,114.55.
Check Out Our Latest Stock Analysis on PH
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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