1,394 Parker-Hannifin Corporation $PH Shares Purchased by First Citizens Bank & Trust Co.

Key Points

• First Citizens Bank & Trust Co. increased its Parker-Hannifin position by 146.6% in the third quarter, purchasing 1,394 additional shares and bringing its holdings to 2,345 shares valued at $2.24 million. Institutional investors collectively own 82.44% of the company.
• Parker-Hannifin reported quarterly adjusted EPS of $9.27, beating estimates by $0.96, while revenue rose 9.8% year over year to $5.75 billion. The company also maintained a quarterly dividend of $2.00, equivalent to an annualized yield of 0.8%.
• Analyst sentiment remains positive, with 18 Buy ratings and five Hold ratings producing a “Moderate Buy” consensus and an average price target of $1,153.22, above the reported share price of $956.18.

First Citizens Bank & Trust Co. increased its position in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 146.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,345 shares of the industrial products company's stock after purchasing an additional 1,394 shares during the period. First Citizens Bank & Trust Co.'s holdings in Parker-Hannifin were worth $2,240,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Focus Financial Network Inc. grew its stake in Parker-Hannifin by 8.5% in the 3rd quarter. Focus Financial Network Inc. now owns 953 shares of the industrial products company's stock worth $910,000 after acquiring an additional 75 shares in the last quarter. Salem Investment Counselors Inc. boosted its position in shares of Parker-Hannifin by 56.0% in the 3rd quarter. Salem Investment Counselors Inc. now owns 234 shares of the industrial products company's stock worth $224,000 after purchasing an additional 84 shares in the last quarter. Foster Group Inc. raised its position in shares of Parker-Hannifin by 6.7% in the 3rd quarter. Foster Group Inc. now owns 431 shares of the industrial products company's stock valued at $412,000 after purchasing an additional 27 shares during the last quarter. B. Riley Wealth Advisors Inc. raised its stake in shares of Parker-Hannifin by 16.5% in the third quarter. B. Riley Wealth Advisors Inc. now owns 981 shares of the industrial products company's stock worth $937,000 after purchasing an additional 139 shares during the last quarter. Finally, Krilogy Financial LLC grew its position in Parker-Hannifin by 81.8% during the 3rd quarter. Krilogy Financial LLC now owns 1,247 shares of the industrial products company's stock worth $1,193,000 after purchasing an additional 561 shares during the period. Hedge funds and other institutional investors own 82.44% of the company's stock.

Insiders Place Their Bets

In other Parker-Hannifin news, VP Berend Bracht sold 602 shares of the firm's stock in a transaction dated 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 transaction, the vice president owned 4,399 shares of the company's stock, valued at approximately $4,577,027.53. This trade represents a 12.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.35% of the stock is owned by insiders.

Parker-Hannifin Trading Up 0.3%

Shares of PH opened at $956.18 on Thursday. The company has a current ratio of 1.26, a quick ratio of 0.74 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $120.59 billion, a P/E ratio of 33.56, a PEG ratio of 2.69 and a beta of 1.12. Parker-Hannifin Corporation has a twelve month low of $721.17 and a twelve month high of $1,099.94. The firm's 50-day moving average is $984.57 and its two-hundred day moving average is $949.37.

Parker-Hannifin (NYSE:PH - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The industrial products company reported $9.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.31 by $0.96. The business had revenue of $5.75 billion for the quarter, compared to the consensus estimate of $5.57 billion. Parker-Hannifin had a net margin of 16.97% and a return on equity of 28.48%. The company's quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $7.69 earnings per share. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. On average, research analysts predict that Parker-Hannifin Corporation will post 35.29 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 11th. Investors of record on Monday, August 31st were given a $2.00 dividend. The ex-dividend date was Monday, August 31st. This represents a $8.00 annualized dividend and a yield of 0.8%. Parker-Hannifin's dividend payout ratio (DPR) is currently 28.08%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on PH shares. Wall Street Zen cut shares of Parker-Hannifin from a "buy" rating to a "hold" rating in a research note on Saturday, August 22nd. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Parker-Hannifin in a research note on Friday, July 17th. Evercore boosted their target price on Parker-Hannifin from $1,064.00 to $1,217.00 and gave the company an "outperform" rating in a research report on Tuesday, August 11th. Argus lifted their price objective on shares of Parker-Hannifin from $1,030.00 to $1,200.00 and gave the company a "buy" rating in a report on Monday, August 10th. Finally, Citigroup increased their price target on Parker-Hannifin from $1,232.00 to $1,234.00 and gave the company a "buy" rating in a research report on Monday. Eighteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, Parker-Hannifin currently has an average rating of "Moderate Buy" and an average target price of $1,153.22.

About Parker-Hannifin

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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