Baird Financial Group Inc. Increases Stock Holdings in Parker-Hannifin Corporation $PH

Key Points

• Baird Financial Group increased its Parker-Hannifin position by 2.1%, adding 18,044 shares to own 893,395 shares worth approximately $873.8 million. Institutional investors collectively hold 82.44% of the company.
• Analyst sentiment remains positive, with 17 Buy ratings and two Holds, producing a consensus “Moderate Buy” rating and an average price target of $1,114.55.
• Parker-Hannifin reported quarterly EPS of $9.27, beating estimates by $0.96, while revenue rose 9.8% year over year to $5.75 billion. The company also declared a quarterly dividend of $2 per share, yielding approximately 0.8% annually.

Baird Financial Group Inc. increased its position in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 2.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 893,395 shares of the industrial products company's stock after purchasing an additional 18,044 shares during the period. Parker-Hannifin accounts for about 1.2% of Baird Financial Group Inc.'s holdings, making the stock its 19th biggest holding. Baird Financial Group Inc. owned approximately 0.71% of Parker-Hannifin worth $873,847,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Archer Investment Corp purchased a new position in shares of Parker-Hannifin during the 2nd quarter worth $28,000. HFM Investment Advisors LLC raised 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 period. Texas Capital Bancshares Inc TX acquired a new position in shares of Parker-Hannifin in the 3rd quarter worth approximately $25,000. Lloyd Advisory Services LLC. purchased a new position in shares of Parker-Hannifin during the 4th quarter worth approximately $31,000. Finally, 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 valued at $31,000 after purchasing an additional 17 shares during the last quarter. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PH has been the subject of several research analyst reports. Wall Street Zen lowered Parker-Hannifin from a "buy" rating to a "hold" rating in a research report on Saturday, August 22nd. BMO Capital Markets restated an "outperform" rating and set a $1,214.00 target price on shares of Parker-Hannifin in a report on Friday, August 7th. Stifel Nicolaus set a $1,075.00 target price on Parker-Hannifin in a research report on Friday, August 7th. BNP Paribas Exane reissued an "outperform" rating and set a $1,220.00 price target (up from $1,090.00) on shares of Parker-Hannifin in a research report on Friday, August 7th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Parker-Hannifin in a report on Friday, July 17th. Seventeen equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $1,114.55.

Insider Activity at Parker-Hannifin

In other news, VP Berend Bracht sold 602 shares of Parker-Hannifin stock in a transaction dated 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 sale, the vice president 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 this link. Company insiders own 0.32% of the company's stock.

Parker-Hannifin Price Performance

PH stock opened at $956.22 on Wednesday. The business has a 50 day moving average price of $990.75 and a 200 day moving average price of $948.51. The company has a quick ratio of 0.74, a current ratio of 1.26 and a debt-to-equity ratio of 0.44. The stock has a market cap of $120.53 billion, a price-to-earnings ratio of 33.56, a PEG ratio of 2.62 and a beta of 1.13. 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 quarterly earnings data on Thursday, August 6th. The industrial products company reported $9.27 earnings per share for the quarter, topping 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 analysts' expectations of $5.57 billion. During the same quarter last year, the company earned $7.69 earnings per share. The firm's revenue for the quarter was up 9.8% on a year-over-year basis. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. Equities research analysts anticipate that Parker-Hannifin Corporation will post 35 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

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. The ex-dividend date of this dividend is Monday, August 31st. This represents a $8.00 annualized dividend and a dividend yield of 0.8%. Parker-Hannifin's dividend payout ratio (DPR) is presently 28.08%.

About Parker-Hannifin

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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