Allworth Financial LP Acquires 1,598 Shares of Parker-Hannifin Corporation $PH

Allworth Financial LP grew its holdings in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 11.8% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 15,111 shares of the industrial products company's stock after buying an additional 1,598 shares during the quarter. Allworth Financial LP's holdings in Parker-Hannifin were worth $14,780,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Texas Capital Bancshares Inc TX bought a new stake in shares of Parker-Hannifin in the 3rd quarter worth about $25,000. Archer Investment Corp acquired a new position in Parker-Hannifin in the second quarter valued at about $28,000. HFM Investment Advisors LLC increased its holdings in shares of Parker-Hannifin by 1,000.0% during the fourth quarter. HFM Investment Advisors LLC now owns 33 shares of the industrial products company's stock worth $29,000 after buying an additional 30 shares in the last quarter. Lloyd Advisory Services LLC. bought a new position in shares of Parker-Hannifin in the fourth quarter valued at approximately $31,000. Finally, NFSG Corp boosted its holdings in shares of 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 acquiring an additional 17 shares in the last quarter. Institutional investors own 82.44% of the company's stock.

Insider Activity

In other 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 value 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.32% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Wall Street Zen lowered Parker-Hannifin from a "buy" rating to a "hold" rating in a research report on Saturday, August 22nd. BNP Paribas Exane reiterated an "outperform" rating and issued a $1,220.00 price objective (up from $1,090.00) on shares of Parker-Hannifin in a research report on Friday, August 7th. UBS Group boosted their price objective on Parker-Hannifin from $1,092.00 to $1,250.00 and gave the stock a "buy" rating in a research note on Friday, August 7th. Truist Financial increased their target price 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. Finally, KeyCorp raised their target price on Parker-Hannifin from $1,100.00 to $1,210.00 and gave the company an "overweight" rating in a research note on Friday, August 7th. Seventeen research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,114.55.

Parker-Hannifin Stock Down 0.7%

NYSE PH opened at $956.22 on Wednesday. The stock has a fifty day moving average of $990.75 and a 200-day moving average of $948.51. The stock has a market capitalization of $120.53 billion, a P/E ratio of 33.56, a price-to-earnings-growth ratio of 2.62 and a beta of 1.13. Parker-Hannifin Corporation has a 52 week low of $715.37 and a 52 week high of $1,099.94. 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 (NYSE:PH - Get Free Report) last issued its quarterly earnings results 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 analyst estimates 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% 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, equities research analysts forecast that Parker-Hannifin Corporation will post 35 EPS for the current year.

Parker-Hannifin Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Monday, August 31st will be given a dividend of $2.00 per share. The ex-dividend date is Monday, August 31st. This represents a $8.00 dividend on an annualized basis and a yield of 0.8%. Parker-Hannifin's dividend payout ratio is presently 28.08%.

Parker-Hannifin Profile

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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