Beacon Pointe Advisors LLC Buys Shares of 19,767 Parker-Hannifin Corporation $PH

Beacon Pointe Advisors LLC acquired a new stake in Parker-Hannifin Corporation (NYSE:PH - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 19,767 shares of the industrial products company's stock, valued at approximately $19,335,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Fideuram Asset Management Ireland dac acquired a new stake in shares of Parker-Hannifin in the 4th quarter worth about $1,253,000. Truist Financial Corp grew its position in Parker-Hannifin by 2.7% in the 4th quarter. Truist Financial Corp now owns 174,852 shares of the industrial products company's stock worth $153,687,000 after purchasing an additional 4,673 shares during the last quarter. Shepherd Street Advisors LLC bought a new position in Parker-Hannifin in the 4th quarter worth about $1,736,000. Jefferies Financial Group Inc. acquired a new stake in shares of Parker-Hannifin in the fourth quarter valued at approximately $11,434,000. Finally, Horizon Investments LLC increased its stake in shares of Parker-Hannifin by 78.8% in the fourth quarter. Horizon Investments LLC now owns 8,829 shares of the industrial products company's stock valued at $7,760,000 after purchasing an additional 3,892 shares during the period. 82.44% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on PH shares. Truist Financial increased their price objective 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. UBS Group lifted 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. Weiss Ratings reissued a "buy (b)" rating on shares of Parker-Hannifin in a research note on Friday, July 17th. KeyCorp raised their price target on Parker-Hannifin from $1,100.00 to $1,210.00 and gave the company an "overweight" rating in a report on Friday, August 7th. Finally, Stifel Nicolaus set a $1,075.00 price objective on shares of 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. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $1,100.00.

Insider Buying and Selling at Parker-Hannifin

In related news, VP Berend Bracht sold 602 shares of the business's stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $1,040.47, for a total transaction 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. The trade was a 12.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.32% of the company's stock.

Parker-Hannifin Stock Down 1.6%

Parker-Hannifin stock opened at $995.24 on Friday. The firm has a market cap of $125.45 billion, a PE ratio of 34.93, a P/E/G ratio of 2.63 and a beta of 1.12. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.74 and a current ratio of 1.26. The firm's 50 day moving average price is $991.71 and its two-hundred day moving average price is $950.48. Parker-Hannifin Corporation has a twelve month low of $715.37 and a twelve month high of $1,099.94.

Parker-Hannifin (NYSE:PH - Get Free Report) last announced 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 during 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 was up 9.8% on a year-over-year basis. During the same period in the previous year, the company earned $7.69 EPS. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. On average, research analysts predict that Parker-Hannifin Corporation will post 34.93 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm 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. 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%.

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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