Allstate Corp Acquires 1,784 Shares of Parker-Hannifin Corporation $PH

Allstate Corp increased its holdings in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 19.8% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,814 shares of the industrial products company's stock after buying an additional 1,784 shares during the quarter. Allstate Corp's holdings in Parker-Hannifin were worth $10,577,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Texas Capital Bancshares Inc TX bought a new stake in shares of Parker-Hannifin during the 3rd quarter valued at approximately $25,000. HFM Investment Advisors LLC lifted its stake in shares of Parker-Hannifin by 1,000.0% in the 4th quarter. HFM Investment Advisors LLC now owns 33 shares of the industrial products company's stock valued at $29,000 after acquiring an additional 30 shares during the last quarter. Lloyd Advisory Services LLC. bought a new stake in Parker-Hannifin during the 4th quarter worth $31,000. NFSG Corp increased its holdings in Parker-Hannifin by 94.4% in the 1st quarter. NFSG Corp now owns 35 shares of the industrial products company's stock worth $31,000 after purchasing an additional 17 shares in the last quarter. Finally, First Command Advisory Services Inc. increased its holdings in Parker-Hannifin by 1,133.3% in the 4th quarter. First Command Advisory Services Inc. now owns 37 shares of the industrial products company's stock worth $33,000 after purchasing an additional 34 shares in the last quarter. 82.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PH has been the subject of several analyst reports. BMO Capital Markets reaffirmed an "outperform" rating and set a $1,214.00 price target on shares of Parker-Hannifin in a research note on Friday, August 7th. KeyCorp increased their price objective on Parker-Hannifin from $1,100.00 to $1,210.00 and gave the company an "overweight" rating in a report on Friday, August 7th. Wells Fargo & Company lowered their target price on Parker-Hannifin from $980.00 to $950.00 and set an "overweight" rating for the company in a research report on Tuesday, May 26th. Susquehanna increased their price target on Parker-Hannifin from $1,100.00 to $1,250.00 and gave the company a "positive" rating in a research note on Friday, August 7th. Finally, UBS Group raised their price objective on Parker-Hannifin from $1,092.00 to $1,250.00 and gave the stock a "buy" rating in a research report on Friday, August 7th. Seventeen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Parker-Hannifin has an average rating of "Moderate Buy" and a consensus price target of $1,100.00.

Parker-Hannifin Trading Up 0.1%

Shares of PH stock opened at $1,002.90 on Monday. The company has a market cap of $126.46 billion, a P/E ratio of 35.20, a PEG ratio of 2.61 and a beta of 1.12. The stock has a 50 day simple moving average of $984.42 and a two-hundred day simple moving average of $948.72. 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 fifty-two week low of $715.37 and a fifty-two week high of $1,099.94.

Parker-Hannifin (NYSE:PH - Get Free Report) last released its earnings results on Thursday, August 6th. The industrial products company reported $9.27 earnings per share (EPS) 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 company had revenue of $5.75 billion for the quarter, compared to the consensus estimate of $5.57 billion. During the same quarter in the previous year, the company earned $7.69 EPS. Parker-Hannifin's quarterly 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 34.93 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

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

About Parker-Hannifin

Parker-Hannifin Corporation NYSE: PH is a global manufacturer and provider of motion and control technologies and systems. The company designs, manufactures and services a broad range of engineered components and systems used to control the movement and flow of liquids, gases and hydraulic power. Its product portfolio is applied across demanding environments and includes solutions for industrial manufacturing, aerospace, mobile equipment and other engineered applications.

Parker-Hannifin's product and service offerings span hydraulic and pneumatic components, fittings and fluid connectors, valves, pumps and motors, electromechanical actuators and motion-control systems, filtration and separation products, and seals and sealing systems.

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