Anchor Capital Advisors LLC Sells 1,488 Shares of Parker-Hannifin Corporation $PH

Key Points

• Anchor Capital Advisors reduced its Parker-Hannifin stake by 9% in the second quarter, selling 1,488 shares and retaining 15,060 shares valued at approximately $14.7 million.
• Analyst sentiment remains positive, with 17 Buy ratings and two Holds, producing a “Moderate Buy” consensus and an average price target of $1,114.55. Institutional investors own 82.44% of the company.
• Parker-Hannifin exceeded quarterly earnings and revenue estimates, reporting $9.27 in EPS and $5.75 billion in revenue, while raising its annualized dividend to $8.00 per share, a 0.8% yield.

Anchor Capital Advisors LLC reduced its stake in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 9.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,060 shares of the industrial products company's stock after selling 1,488 shares during the period. Anchor Capital Advisors LLC's holdings in Parker-Hannifin were worth $14,731,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of PH. California State Teachers Retirement System grew its position in Parker-Hannifin by 96,423.1% during the 2nd quarter. California State Teachers Retirement System now owns 184,153,587 shares of the industrial products company's stock valued at $180,124,307,000 after purchasing an additional 183,962,800 shares during the last quarter. BlackRock Inc. purchased a new position in Parker-Hannifin in the second quarter worth about $10,163,362,000. Bank of America Corp DE lifted its stake in shares of Parker-Hannifin by 0.6% in the fourth quarter. Bank of America Corp DE now owns 3,926,896 shares of the industrial products company's stock worth $3,451,584,000 after buying an additional 22,305 shares in the last quarter. Capital World Investors grew its holdings in shares of Parker-Hannifin by 0.6% during the fourth quarter. Capital World Investors now owns 2,600,844 shares of the industrial products company's stock valued at $2,286,038,000 after buying an additional 16,703 shares during the last quarter. Finally, Morgan Stanley grew its holdings in shares of Parker-Hannifin by 1.1% during the fourth quarter. Morgan Stanley now owns 2,133,044 shares of the industrial products company's stock valued at $1,874,862,000 after buying an additional 22,367 shares during the last quarter. 82.44% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PH has been the subject of a number of recent analyst reports. Wall Street Zen lowered shares of Parker-Hannifin from a "buy" rating to a "hold" rating in a report on Saturday, August 22nd. UBS Group increased their target price on Parker-Hannifin from $1,092.00 to $1,250.00 and gave the company a "buy" rating in a research note on Friday, August 7th. Evercore set a $1,064.00 target price on Parker-Hannifin in a report on Monday, May 11th. Citigroup boosted their price target on Parker-Hannifin from $1,141.00 to $1,232.00 and gave the stock a "buy" rating in a research note on Friday, August 7th. Finally, Susquehanna upped their price target on Parker-Hannifin from $1,100.00 to $1,250.00 and gave the company a "positive" rating in a 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. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $1,114.55.

Insider Buying and Selling

In related news, VP Berend Bracht sold 602 shares of Parker-Hannifin stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $1,040.47, for a total transaction of $626,362.94. Following the transaction, the vice president directly owned 4,399 shares in the company, valued at approximately $4,577,027.53. The trade was a 12.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.32% of the company's stock.

Parker-Hannifin Stock Performance

Shares of PH opened at $962.40 on Tuesday. The firm has a market capitalization of $121.31 billion, a P/E ratio of 33.78, a PEG ratio of 2.62 and a beta of 1.13. 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 Corporation has a one year low of $715.37 and a one year high of $1,099.94. The business has a fifty day moving average of $991.19 and a 200 day moving average of $948.80.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted its earnings results 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 for the quarter, compared to the consensus estimate of $5.57 billion. Parker-Hannifin had a return on equity of 28.48% and a net margin of 16.97%.Parker-Hannifin's revenue was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $7.69 earnings per share. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. As a group, sell-side analysts anticipate that Parker-Hannifin Corporation will post 34.96 EPS for the current year.

Parker-Hannifin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Monday, August 31st will be paid a $2.00 dividend. This represents a $8.00 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Monday, August 31st. Parker-Hannifin's dividend payout ratio is 28.08%.

Parker-Hannifin 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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