Cantor Fitzgerald Investment Advisors L.P. Buys New Shares in Parker-Hannifin Corporation $PH

Key Points

• Cantor Fitzgerald Investment Advisors initiated a Parker-Hannifin position of 32,985 shares worth approximately $31.5 million, making PH its 13th-largest holding. Institutional investors collectively own 82.44% of the company.
• Wall Street maintains a positive outlook: 18 analysts rate PH a Buy and five rate it a Hold, producing a “Moderate Buy” consensus and an average price target of $1,146.35.
• Parker-Hannifin exceeded quarterly expectations with $9.27 in adjusted earnings per share and $5.75 billion in revenue, while revenue increased 9.8% year over year. The company also pays a quarterly dividend of $2.00 per share, an annualized yield of 0.8%.

Cantor Fitzgerald Investment Advisors L.P. bought a new position in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 32,985 shares of the industrial products company's stock, valued at approximately $31,515,000. Parker-Hannifin makes up about 1.4% of Cantor Fitzgerald Investment Advisors L.P.'s holdings, making the stock its 13th largest holding.

Several other hedge funds have also recently added to or reduced their stakes in PH. BlackRock Inc. bought a new stake in shares of Parker-Hannifin during the 2nd quarter worth $10,163,362,000. State Street Corp grew its holdings in shares of Parker-Hannifin by 0.5% in the 2nd quarter. State Street Corp now owns 9,385,389 shares of the industrial products company's stock worth $9,180,037,000 after acquiring an additional 42,548 shares during the last quarter. Bank of America Corp DE acquired a new position in shares of Parker-Hannifin in the 2nd quarter worth $3,273,507,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Parker-Hannifin by 2.5% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,032,942 shares of the industrial products company's stock worth $1,010,341,000 after acquiring an additional 25,167 shares during the last quarter. Finally, Deutsche Bank AG acquired a new stake in shares of Parker-Hannifin during the second quarter worth $987,587,000. Institutional investors and hedge funds own 82.44% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on PH shares. Truist Financial upped their target price on Parker-Hannifin from $1,269.00 to $1,358.00 and gave the company a "buy" rating in a report on Friday, August 7th. Stifel Nicolaus set a $1,002.00 price target on Parker-Hannifin in a research report on Monday. BNP Paribas Exane lifted their price target on Parker-Hannifin from $1,220.00 to $1,270.00 and gave the stock an "outperform" rating in a research note on Friday, September 18th. Robert W. Baird boosted their price objective on Parker-Hannifin from $1,050.00 to $1,275.00 in a report on Friday, August 7th. Finally, Jefferies Financial Group boosted their price objective on Parker-Hannifin from $1,100.00 to $1,275.00 in a report on Friday, August 7th. Eighteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, Parker-Hannifin presently has an average rating of "Moderate Buy" and an average price target of $1,146.35.

Insider Activity

In other 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 directly owned 4,399 shares in the company, valued at $4,577,027.53. The trade was a 12.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.35% of the stock is owned by company insiders.

Parker-Hannifin Stock Performance

Shares of PH stock opened at $958.04 on Thursday. Parker-Hannifin Corporation has a 1-year low of $737.70 and a 1-year high of $1,099.94. The company has a current ratio of 1.26, a quick ratio of 0.74 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $120.82 billion, a price-to-earnings ratio of 29.24, a P/E/G ratio of 2.63 and a beta of 1.12. The stock's fifty day simple moving average is $973.71 and its 200-day simple moving average is $951.64.

Parker-Hannifin (NYSE:PH - Get Free Report) last released its earnings results on Thursday, August 6th. The industrial products company reported $9.27 earnings per share for the quarter, beating the consensus estimate of $8.31 by $0.96. The company had revenue of $5.75 billion for the quarter, compared to analysts' expectations of $5.57 billion. Parker-Hannifin had a return on equity of 28.48% and a net margin of 16.97%. The business's revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $7.69 EPS. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. On average, sell-side analysts predict that Parker-Hannifin Corporation will post 35.72 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 11th. Shareholders of record on Monday, August 31st were paid a dividend of $2.00 per share. The ex-dividend date of this dividend was Monday, August 31st. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.8%. Parker-Hannifin's dividend payout ratio (DPR) is 28.08%.

About Parker-Hannifin

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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