Tidal Investments LLC Decreases Holdings in Parker-Hannifin Corporation $PH

Tidal Investments LLC lowered its position in Parker-Hannifin Corporation (NYSE:PHFree Report) by 37.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,433 shares of the industrial products company’s stock after selling 12,144 shares during the quarter. Tidal Investments LLC’s holdings in Parker-Hannifin were worth $19,986,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Archford Capital Strategies LLC increased its position in shares of Parker-Hannifin by 77.5% in the second quarter. Archford Capital Strategies LLC now owns 2,072 shares of the industrial products company’s stock valued at $2,027,000 after acquiring an additional 905 shares during the period. National Pension Service boosted its holdings in shares of Parker-Hannifin by 3.0% during the second quarter. National Pension Service now owns 367,138 shares of the industrial products company’s stock worth $359,105,000 after purchasing an additional 10,590 shares during the period. Pinnacle Wealth Management Advisory Group LLC grew its stake in shares of Parker-Hannifin by 7.7% in the second quarter. Pinnacle Wealth Management Advisory Group LLC now owns 780 shares of the industrial products company’s stock worth $763,000 after purchasing an additional 56 shares during the last quarter. Integrated Wealth Concepts LLC increased its holdings in Parker-Hannifin by 86.1% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 3,503 shares of the industrial products company’s stock valued at $3,426,000 after purchasing an additional 1,621 shares during the period. Finally, RFG Advisory LLC raised its position in Parker-Hannifin by 0.3% during the 2nd quarter. RFG Advisory LLC now owns 3,753 shares of the industrial products company’s stock valued at $3,671,000 after purchasing an additional 13 shares during the last quarter. 82.44% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PH has been the subject of a number of recent analyst reports. Wall Street Zen downgraded 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 report on Friday, August 7th. Susquehanna raised their target price on shares of Parker-Hannifin from $1,100.00 to $1,250.00 and gave the stock a “positive” rating in a research report on Friday, August 7th. BMO Capital Markets reaffirmed an “outperform” rating and set a $1,214.00 target price on shares of Parker-Hannifin in a research note on Friday, August 7th. Finally, Wells Fargo & Company reduced their price target on shares of Parker-Hannifin from $980.00 to $950.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 26th. Seventeen investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $1,114.55.

Check Out Our Latest Stock Analysis on Parker-Hannifin

Parker-Hannifin Stock Performance

Shares of Parker-Hannifin stock opened at $933.97 on Friday. Parker-Hannifin Corporation has a 1 year low of $715.37 and a 1 year high of $1,099.94. The firm’s 50-day moving average is $989.89 and its 200 day moving average is $947.46. The stock has a market cap of $117.73 billion, a price-to-earnings ratio of 32.78, a PEG ratio of 2.58 and a beta of 1.13. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.26 and a quick ratio of 0.74.

Parker-Hannifin (NYSE:PHGet Free Report) last issued its earnings results 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 business had revenue of $5.75 billion for the quarter, compared to the consensus estimate of $5.57 billion. During the same period last year, the business posted $7.69 EPS. The company’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. Sell-side analysts anticipate that Parker-Hannifin Corporation will post 35 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Monday, August 31st will be paid a $2.00 dividend. This represents a $8.00 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Monday, August 31st. Parker-Hannifin’s dividend payout ratio is 28.08%.

Insider Buying and Selling at Parker-Hannifin

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 shares were 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 approximately $4,577,027.53. This represents a 12.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.32% of the stock is owned by company insiders.

Parker-Hannifin Company Profile

(Free Report)

Parker-Hannifin Corporation (NYSE:PH) is a diversified manufacturer of motion and control technologies. The company develops and produces systems and components that manage the movement and flow of liquids, gases and other materials for industrial, mobile and aerospace applications.

Its products include hydraulic and pneumatic systems, fluid connectors, filtration and process-control equipment, electromechanical technologies, seals, thermal-management solutions and aerospace systems. Parker-Hannifin serves manufacturers and operators in markets such as factory automation, transportation, energy, construction, life sciences and aviation.

Founded in 1917, Parker-Hannifin is headquartered in Cleveland, Ohio, and serves customers through manufacturing, distribution and sales operations across North America, Europe, Asia and other international markets.

See Also

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Institutional Ownership by Quarter for Parker-Hannifin (NYSE:PH)

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