47,590 Shares in Parker-Hannifin Corporation $PH Acquired by Nykredit A S

Key Points

• Nykredit A S acquired 47,590 Parker-Hannifin shares in the second quarter, valued at approximately $46.5 million. Institutional investors and hedge funds collectively own 82.44% of the company.
• Analyst sentiment remains positive, with 17 Buy ratings and two Holds, producing a consensus “Moderate Buy” rating and an average price target of $1,114.55, despite one downgrade and a reduced Wells Fargo target.
• Parker-Hannifin reported quarterly EPS of $9.27, beating estimates by $0.96, while revenue rose 9.8% year over year to $5.75 billion. The company also maintains a quarterly dividend of $2.00 per share, or $8.00 annualized.

Nykredit A S purchased a new stake in Parker-Hannifin Corporation (NYSE:PH - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 47,590 shares of the industrial products company's stock, valued at approximately $46,549,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in PH. BlackRock Inc. bought a new stake in shares of Parker-Hannifin in the second quarter worth $10,163,362,000. Bank of America Corp DE bought a new stake in Parker-Hannifin in the second quarter worth approximately $3,273,507,000. Capital World Investors lifted its position in shares of Parker-Hannifin by 0.6% during the 4th quarter. Capital World Investors now owns 2,600,844 shares of the industrial products company's stock valued at $2,286,038,000 after acquiring an additional 16,703 shares during the period. Norges Bank acquired a new position in shares of Parker-Hannifin during the fourth quarter valued at about $1,756,230,000. Finally, Nuveen LLC boosted its position in shares of Parker-Hannifin by 7.4% during the 4th quarter. Nuveen LLC now owns 1,367,683 shares of the industrial products company's stock worth $1,202,139,000 after purchasing an additional 94,343 shares in the last quarter. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PH has been the subject of several research reports. Wall Street Zen downgraded Parker-Hannifin from a "buy" rating to a "hold" rating in a research note on Saturday, August 22nd. Wells Fargo & Company decreased their price target on shares of Parker-Hannifin from $980.00 to $950.00 and set an "overweight" rating for the company in a research note on Tuesday, May 26th. BMO Capital Markets restated an "outperform" rating and set a $1,214.00 price objective on shares of Parker-Hannifin in a report on Friday, August 7th. UBS Group lifted 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. Finally, BNP Paribas Exane reaffirmed an "outperform" rating and issued a $1,220.00 price target (up from $1,090.00) on shares of Parker-Hannifin in a research report on Friday, August 7th. Seventeen analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,114.55.

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 value of $626,362.94. Following the completion of the sale, the vice president owned 4,399 shares of the company's stock, valued at $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 available through the SEC website. 0.32% of the stock is currently owned by corporate insiders.

Parker-Hannifin Stock Performance

NYSE PH opened at $942.62 on Friday. The firm has a market cap of $118.82 billion, a P/E ratio of 33.09, a price-to-earnings-growth ratio of 2.88 and a beta of 1.13. The company has a quick ratio of 0.74, a current ratio of 1.26 and a debt-to-equity ratio of 0.44. The company's 50 day moving average is $986.89 and its 200-day moving average is $944.52. Parker-Hannifin Corporation has a 12-month low of $715.37 and a 12-month high of $1,099.94.

Parker-Hannifin (NYSE:PH - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The industrial products company reported $9.27 earnings per share for the quarter, beating 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 business had revenue of $5.75 billion during the quarter, compared to analyst estimates of $5.57 billion. During the same period in the previous year, the business earned $7.69 EPS. Parker-Hannifin'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 predict that Parker-Hannifin Corporation will post 34.95 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 11th. Investors of record on Monday, August 31st were paid a $2.00 dividend. 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 currently 28.08%.

About Parker-Hannifin

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.

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