1,052 Shares of Parker-Hannifin Corporation $PH Bought by ZWJ Investment Counsel Inc.

Key Points

• ZWJ Investment Counsel acquired 1,052 Parker-Hannifin shares worth approximately $1.005 million in the third quarter. Institutional investors collectively own 82.44% of the company.
• Analysts remain broadly positive, with 18 Buy ratings and five Holds. Parker-Hannifin has a “Moderate Buy” consensus rating and an average price target of $1,153.22.
• The company exceeded quarterly expectations, reporting $9.27 in EPS and $5.75 billion in revenue, up 9.8% year over year. It also paid a quarterly dividend of $2 per share, equivalent to an annualized yield of approximately 0.8%.

ZWJ Investment Counsel Inc. acquired a new position in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,052 shares of the industrial products company's stock, valued at approximately $1,005,000.

Other hedge funds have also added to or reduced their stakes in the company. E Fund Management Co. Ltd. increased its stake in shares of Parker-Hannifin by 2.1% during the 2nd quarter. E Fund Management Co. Ltd. now owns 477 shares of the industrial products company's stock worth $467,000 after purchasing an additional 10 shares during the last quarter. Optas LLC lifted its stake in Parker-Hannifin by 3.1% in the first quarter. Optas LLC now owns 370 shares of the industrial products company's stock valued at $331,000 after purchasing an additional 11 shares during the last quarter. RFG Advisory LLC lifted its stake in Parker-Hannifin by 0.3% in the first quarter. RFG Advisory LLC now owns 3,740 shares of the industrial products company's stock valued at $3,348,000 after purchasing an additional 12 shares during the last quarter. Allen Capital Group LLC lifted its stake in Parker-Hannifin by 4.8% in the first quarter. Allen Capital Group LLC now owns 264 shares of the industrial products company's stock valued at $236,000 after purchasing an additional 12 shares during the last quarter. Finally, Doliver Advisors LP grew its holdings in Parker-Hannifin by 0.6% during the second quarter. Doliver Advisors LP now owns 2,011 shares of the industrial products company's stock valued at $1,967,000 after purchasing an additional 12 shares during the period. Institutional investors own 82.44% of the company's stock.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Sanford C. Bernstein raised their target price on Parker-Hannifin from $1,037.00 to $1,218.00 and gave the stock an "outperform" rating in a research report on Friday, August 14th. Stifel Nicolaus set a $1,075.00 price target on Parker-Hannifin in a research report on Friday, August 7th. Mizuho upped their price target on Parker-Hannifin from $1,050.00 to $1,285.00 in a research report on Friday, August 7th. BMO Capital Markets reiterated an "outperform" rating and set a $1,214.00 price target (up from $1,068.00) on shares of Parker-Hannifin in a research note on Friday, August 7th. Finally, Truist Financial lifted their price objective on Parker-Hannifin from $1,269.00 to $1,358.00 and gave the stock a "buy" rating in a report on Friday, August 7th. Eighteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $1,153.22.

Insider Transactions at Parker-Hannifin

In other Parker-Hannifin news, VP Berend Bracht sold 602 shares of the firm's stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $1,040.47, for a total value of $626,362.94. Following the completion of the transaction, the vice president directly owned 4,399 shares of the company's stock, valued at $4,577,027.53. This trade represents a 12.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.35% of the stock is owned by corporate insiders.

Parker-Hannifin Stock Performance

Shares of PH opened at $956.18 on Thursday. The stock's 50-day simple moving average is $984.57 and its 200 day simple moving average is $949.37. The stock has a market capitalization of $120.59 billion, a price-to-earnings ratio of 33.56, a price-to-earnings-growth ratio of 2.69 and a beta of 1.12. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.74 and a current ratio of 1.26. Parker-Hannifin Corporation has a 52-week low of $721.17 and a 52-week high of $1,099.94.

Parker-Hannifin (NYSE:PH - Get Free Report) last issued its earnings results on Thursday, August 6th. The industrial products company reported $9.27 EPS for the quarter, topping 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 during the quarter, compared to the consensus estimate of $5.57 billion. During the same quarter last year, the company 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. Research analysts forecast that Parker-Hannifin Corporation will post 35.29 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 11th. Investors of record on Monday, August 31st were issued a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Monday, August 31st. Parker-Hannifin's dividend payout ratio is 28.08%.

Parker-Hannifin Profile

Parker-Hannifin Corporation is a diversified manufacturer of motion and control technologies. The company develops and produces components and systems that manage the movement and control of liquids, gases and mechanical force across industrial, mobile and aerospace applications.

Its product portfolio includes hydraulic and pneumatic systems, electromechanical technologies, filtration and fluid-management equipment, seals and shielding products, connectors, pumps, valves, sensors, thermal-management solutions and related engineered systems.

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