Amundi Raises Stock Holdings in Parker-Hannifin Corporation $PH

Key Points

• Amundi increased its Parker-Hannifin stake by 2.9% in the second quarter, owning 642,969 shares valued at approximately $628.9 million. Institutional investors collectively hold 82.44% of the company.
• Parker-Hannifin reported quarterly earnings of $9.27 per share, beating estimates of $8.31, while revenue rose 9.8% year over year to $5.75 billion.
• Analysts maintain a favorable outlook, with a consensus “Moderate Buy” rating and average price target of $1,114.55. The company also declared a $2.00 quarterly dividend, representing a 0.8% annualized yield.

Amundi grew its position in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 2.9% in the second quarter, according to its most recent filing with the SEC. The fund owned 642,969 shares of the industrial products company's stock after acquiring an additional 17,910 shares during the quarter. Amundi owned about 0.51% of Parker-Hannifin worth $628,901,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Texas Capital Bancshares Inc TX bought a new position in shares of Parker-Hannifin in the 3rd quarter valued at about $25,000. Archer Investment Corp purchased a new stake in Parker-Hannifin during the second quarter valued at approximately $28,000. HFM Investment Advisors LLC raised its position in 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 valued at $29,000 after purchasing an additional 30 shares during the period. Lloyd Advisory Services LLC. bought a new stake in shares of Parker-Hannifin in the 4th quarter valued at approximately $31,000. Finally, NFSG Corp lifted its stake 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 valued at $31,000 after purchasing an additional 17 shares during the last quarter. 82.44% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Parker-Hannifin

In related news, VP Berend Bracht sold 602 shares of the 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 transaction, 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.32% of the stock is currently owned by company insiders.

Parker-Hannifin Trading Down 0.0%

NYSE PH opened at $962.40 on Monday. The stock has a market cap of $121.31 billion, a PE ratio of 33.78, a PEG ratio of 2.62 and a beta of 1.13. Parker-Hannifin Corporation has a 12 month low of $715.37 and a 12 month high of $1,099.94. The company's 50-day moving average price is $991.22 and its 200-day moving average price is $949.13. The company has a current ratio of 1.26, a quick ratio of 0.74 and a debt-to-equity ratio of 0.44.

Parker-Hannifin (NYSE:PH - Get Free Report) last announced 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. The company 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 firm'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. Equities research analysts forecast that Parker-Hannifin Corporation will post 34.96 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The company also recently declared 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. The ex-dividend date is Monday, August 31st. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.8%. Parker-Hannifin's payout ratio is presently 28.08%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on PH shares. BNP Paribas Exane reissued an "outperform" rating and set a $1,220.00 target price (up from $1,090.00) on shares of Parker-Hannifin in a research report on Friday, August 7th. Evercore set a $1,064.00 price objective on shares of Parker-Hannifin in a research note on Monday, May 11th. Sanford C. Bernstein boosted their price objective on shares of Parker-Hannifin from $1,037.00 to $1,218.00 and gave the company an "outperform" rating in a research report on Friday, August 14th. Susquehanna increased their target price on shares of 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, Stifel Nicolaus set a $1,075.00 target price on shares of Parker-Hannifin in a report on Friday, August 7th. Seventeen research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, Parker-Hannifin currently has a consensus rating of "Moderate Buy" and an average price target of $1,114.55.

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.

Want to see what other hedge funds are holding PH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Parker-Hannifin Corporation (NYSE:PH - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source