Alyeska Investment Group L.P. Makes New $161.91 Million Investment in Parker-Hannifin Corporation $PH

Key Points

• Alyeska Investment Group initiated a roughly $161.9 million position in Parker-Hannifin during the second quarter, acquiring 165,536 shares. Institutional investors and hedge funds collectively own 82.44% of the company.
• Analysts maintain a favorable outlook, with 17 Buy ratings and three Holds; Parker-Hannifin has a “Moderate Buy” consensus rating and a $1,100 average price target.
• Parker-Hannifin exceeded quarterly expectations, reporting $9.27 in EPS and $5.75 billion in revenue, while revenue increased 9.8% year over year. The company also declared a quarterly dividend of $2 per share, equivalent to a 0.8% annual yield.

Alyeska Investment Group L.P. bought a new stake in Parker-Hannifin Corporation (NYSE:PH - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 165,536 shares of the industrial products company's stock, valued at approximately $161,914,000. Alyeska Investment Group L.P. owned about 0.13% of Parker-Hannifin at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in PH. Fideuram Asset Management Ireland dac bought a new position in Parker-Hannifin during the fourth quarter worth $1,253,000. Truist Financial Corp lifted its holdings in Parker-Hannifin by 2.7% in the fourth quarter. Truist Financial Corp now owns 174,852 shares of the industrial products company's stock valued at $153,687,000 after buying an additional 4,673 shares during the period. Shepherd Street Advisors LLC bought a new stake in Parker-Hannifin during the fourth quarter valued at $1,736,000. BNP Paribas grew its holdings in Parker-Hannifin by 4.1% during the 2nd quarter. BNP Paribas now owns 54,208 shares of the industrial products company's stock worth $52,717,000 after acquiring an additional 2,121 shares during the period. Finally, Jefferies Financial Group Inc. acquired a new stake in Parker-Hannifin during the 4th quarter worth about $11,434,000. 82.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on PH shares. Evercore set a $1,064.00 target price on shares of Parker-Hannifin in a research report on Monday, May 11th. Wells Fargo & Company reduced their price target on shares of Parker-Hannifin from $980.00 to $950.00 and set an "overweight" rating for the company in a report on Tuesday, May 26th. JPMorgan Chase & Co. decreased their price target on shares of Parker-Hannifin from $1,100.00 to $1,060.00 and set an "overweight" rating for the company in a research note on Thursday, May 7th. Weiss Ratings reiterated a "buy (b)" rating on shares of Parker-Hannifin in a report on Friday, July 17th. Finally, Stifel Nicolaus set a $1,075.00 price objective on Parker-Hannifin in a research note on Friday, August 7th. Seventeen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $1,100.00.

Parker-Hannifin Stock Performance

NYSE PH opened at $995.24 on Friday. Parker-Hannifin Corporation has a 1 year low of $715.37 and a 1 year high of $1,099.94. The firm has a market cap of $125.45 billion, a price-to-earnings ratio of 34.93, a PEG ratio of 2.59 and a beta of 1.12. The company has a fifty day moving average price of $991.71 and a 200-day moving average price of $950.48. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.26 and a quick ratio of 0.74.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The industrial products company reported $9.27 EPS for the quarter, beating the consensus estimate of $8.31 by $0.96. The firm had revenue of $5.75 billion during the quarter, compared to analyst estimates of $5.57 billion. Parker-Hannifin had a net margin of 16.97% and a return on equity of 28.48%. The company's revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter last year, the business posted $7.69 EPS. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. As a group, equities research analysts predict that Parker-Hannifin Corporation will post 34.93 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Monday, August 31st will be 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 of this dividend is Monday, August 31st. Parker-Hannifin's dividend payout ratio is 28.08%.

Insider Transactions at Parker-Hannifin

In other Parker-Hannifin 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 of the company's stock, valued at $4,577,027.53. This trade represents a 12.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.32% of the stock is owned by corporate insiders.

Parker-Hannifin Company Profile

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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