BG Investment Services LLC Acquires New Stake in Parker-Hannifin Corporation $PH

Key Points

• BG Investment Services acquired 1,225 Parker-Hannifin shares worth approximately $1.17 million in the third quarter. Institutional investors and hedge funds collectively own 82.44% of the company.
• Parker-Hannifin reported stronger-than-expected quarterly results, with EPS of $9.27 versus an $8.31 consensus estimate and revenue of $5.75 billion, up 9.8% year over year.
• Analysts maintain a favorable outlook, with a consensus “Moderate Buy” rating and an average price target of $1,146.35. The company also pays an annualized $8.00 dividend, yielding approximately 0.9%.

BG Investment Services LLC bought a new stake in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 1,225 shares of the industrial products company's stock, valued at approximately $1,170,000.

Several other large investors have also recently bought and sold shares of PH. Simplicity Wealth LLC grew its position in Parker-Hannifin by 5.7% during the third quarter. Simplicity Wealth LLC now owns 1,014 shares of the industrial products company's stock worth $969,000 after buying an additional 55 shares in the last quarter. Evergreen Capital Management LLC increased its stake in Parker-Hannifin by 17.0% during the third quarter. Evergreen Capital Management LLC now owns 1,202 shares of the industrial products company's stock valued at $1,148,000 after acquiring an additional 175 shares during the period. Gibbs Wealth Management acquired a new position in Parker-Hannifin in the 3rd quarter valued at approximately $207,000. Farmers & Merchants Investments Inc. raised its holdings in Parker-Hannifin by 22.8% in the 3rd quarter. Farmers & Merchants Investments Inc. now owns 156 shares of the industrial products company's stock valued at $149,000 after acquiring an additional 29 shares in the last quarter. Finally, Capital Investment Advisors LLC raised its holdings in Parker-Hannifin by 269.9% in the 3rd quarter. Capital Investment Advisors LLC now owns 3,244 shares of the industrial products company's stock valued at $3,099,000 after acquiring an additional 2,367 shares in the last quarter. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Parker-Hannifin Price Performance

Parker-Hannifin stock opened at $880.03 on Friday. The business has a 50 day simple moving average of $966.89 and a 200 day simple moving average of $951.03. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.26 and a quick ratio of 0.74. The company has a market capitalization of $110.98 billion, a PE ratio of 30.89, a price-to-earnings-growth ratio of 2.45 and a beta of 1.12. Parker-Hannifin Corporation has a one year low of $755.10 and a one year high of $1,099.94.

Parker-Hannifin (NYSE:PH - Get Free Report) last announced its earnings results on Thursday, August 6th. The industrial products company reported $9.27 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $8.31 by $0.96. The business had revenue of $5.75 billion during the quarter, compared to analysts' expectations 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 company posted $7.69 EPS. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. On average, sell-side analysts forecast that Parker-Hannifin Corporation will post 35.72 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 11th. Stockholders of record on Monday, August 31st were paid a $2.00 dividend. The ex-dividend date was Monday, August 31st. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.9%. Parker-Hannifin's payout ratio is 28.08%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Weiss Ratings reissued a "buy (b)" rating on shares of Parker-Hannifin in a report on Thursday, October 15th. Citigroup upped their target price on Parker-Hannifin from $1,232.00 to $1,234.00 and gave the company a "buy" rating in a research note on Monday, October 12th. Robert W. Baird upped their target price on Parker-Hannifin from $1,050.00 to $1,275.00 in a research note on Friday, August 7th. Jefferies Financial Group raised their target price on Parker-Hannifin from $1,100.00 to $1,275.00 in a research report on Friday, August 7th. Finally, The Goldman Sachs Group lifted their price target on shares of Parker-Hannifin from $1,071.00 to $1,165.00 and gave the stock a "buy" rating in a research note on Friday, August 7th. Eighteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $1,146.35.

Insider Activity 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 transaction of $626,362.94. Following the sale, the vice president directly owned 4,399 shares in the company, valued at $4,577,027.53. This represents a 12.04% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.35% of the stock is owned by insiders.

Parker-Hannifin Profile

Parker-Hannifin Corporation is a diversified manufacturer of motion and control technologies and systems. The company serves aerospace, industrial, and other specialized markets with products designed to control the movement and flow of liquids and gases, as well as mechanical motion and power.

Its product portfolio includes hydraulic and pneumatic systems, filtration and process-control equipment, electromechanical technologies, sealing and shielding products, connectors, pumps, valves, and related components.

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