2,507 Parker-Hannifin Corporation $PH Shares Bought by Artemis Investment Management LLP

Key Points

• Artemis Investment Management increased its Parker-Hannifin stake by 2.5%, purchasing 2,507 shares to hold 103,130 shares valued at approximately $98.5 million. Institutional investors collectively own 82.44% of the company.
• Analysts remain broadly positive, with 16 Buy ratings and three Holds; the stock has an average “Moderate Buy” rating and a consensus price target of $1,119.55.
• Parker-Hannifin reported quarterly earnings of $9.27 per share, beating estimates by $0.96, while revenue rose 9.8% year over year to $5.75 billion. Shares recently traded down 1.1% at $941.85, and the company maintains a quarterly dividend of $2.00 per share.

Artemis Investment Management LLP boosted its holdings in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 2.5% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 103,130 shares of the industrial products company's stock after buying an additional 2,507 shares during the period. Artemis Investment Management LLP owned 0.08% of Parker-Hannifin worth $98,532,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. BlackRock Inc. purchased a new stake in shares of Parker-Hannifin during the second quarter worth about $10,163,362,000. Bank of America Corp DE bought a new position in Parker-Hannifin in the 2nd quarter worth approximately $3,273,507,000. Deutsche Bank AG purchased a new stake in Parker-Hannifin during the 2nd quarter valued at approximately $987,587,000. Bank of New York Mellon Corp purchased a new stake in Parker-Hannifin during the 2nd quarter valued at approximately $712,222,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Parker-Hannifin during the second quarter valued at approximately $305,628,000. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Parker-Hannifin

In related news, VP Berend Bracht sold 602 shares of the firm's stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $1,040.47, for a total value of $626,362.94. Following the completion of the sale, the vice president directly owned 4,399 shares in the company, valued at $4,577,027.53. This trade 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 available through this hyperlink. 0.35% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on PH. Sanford C. Bernstein upped their target price on shares of 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. UBS Group increased their price objective on shares of Parker-Hannifin from $1,092.00 to $1,250.00 and gave the company a "buy" rating in a report on Friday, August 7th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Parker-Hannifin in a report on Friday, July 17th. Susquehanna upped their price objective on Parker-Hannifin from $1,100.00 to $1,250.00 and gave the stock a "positive" rating in a report on Friday, August 7th. Finally, Stifel Nicolaus set a $1,075.00 target price on Parker-Hannifin in a research report on Friday, August 7th. Sixteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Parker-Hannifin has an average rating of "Moderate Buy" and an average price target of $1,119.55.

Parker-Hannifin Trading Down 1.1%

Shares of NYSE:PH traded down $10.94 during trading on Thursday, reaching $941.85. The company's stock had a trading volume of 208,522 shares, compared to its average volume of 688,838. The stock has a market capitalization of $118.78 billion, a PE ratio of 33.09, a price-to-earnings-growth ratio of 3.02 and a beta of 1.12. Parker-Hannifin Corporation has a 12 month low of $715.37 and a 12 month high of $1,099.94. 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's 50 day simple moving average is $987.62 and its two-hundred day simple moving average is $947.74.

Parker-Hannifin (NYSE:PH - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The industrial products company reported $9.27 earnings per share for the quarter, topping the consensus estimate of $8.31 by $0.96. The company had revenue of $5.75 billion for 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%.The firm's revenue for the quarter was up 9.8% on a year-over-year basis. During the same period in the previous 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 35.02 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The business also recently declared 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 annualized dividend and a yield of 0.8%. The ex-dividend date was Monday, August 31st. Parker-Hannifin's dividend payout ratio is presently 28.08%.

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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