Corient Private Wealth LP Makes New $169.69 Million Investment in Parker-Hannifin Corporation $PH

Key Points

• Corient Private Wealth LP acquired 173,486 Parker-Hannifin shares worth approximately $169.69 million, giving it a 0.14% stake. Institutional investors collectively own 82.44% of the company.
• Parker-Hannifin reported a quarterly earnings beat, with EPS of $9.27 versus $8.31 expected and revenue of $5.75 billion, up 9.8% year over year.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $1,100, while Parker-Hannifin declared a $2 quarterly dividend, equivalent to an annualized $8 payout and a 0.8% yield.

Corient Private Wealth LP acquired a new stake in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 173,486 shares of the industrial products company's stock, valued at approximately $169,690,000. Corient Private Wealth LP owned about 0.14% of Parker-Hannifin as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the stock. BlackRock Inc. acquired a new stake in Parker-Hannifin during the second quarter worth about $10,163,362,000. Bank of America Corp DE acquired a new position in Parker-Hannifin in the second quarter valued at approximately $3,273,507,000. Norges Bank acquired a new position in Parker-Hannifin in the fourth quarter valued at approximately $1,756,230,000. Deutsche Bank AG purchased a new stake in Parker-Hannifin in the 2nd quarter worth approximately $987,587,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Parker-Hannifin during the 2nd quarter worth approximately $712,222,000. Institutional investors and hedge funds own 82.44% of the company's stock.

Analyst Upgrades and Downgrades

PH has been the subject of several recent research reports. KeyCorp lifted their target price on shares of Parker-Hannifin from $1,100.00 to $1,210.00 and gave the company an "overweight" rating in a report on Friday, August 7th. Stifel Nicolaus set a $1,075.00 price target on shares of Parker-Hannifin in a report on Friday, August 7th. UBS Group lifted their price objective on shares of Parker-Hannifin from $1,092.00 to $1,250.00 and gave the company a "buy" rating in a report on Friday, August 7th. BMO Capital Markets reiterated an "outperform" rating and issued a $1,214.00 price objective on shares of Parker-Hannifin in a research report on Friday, August 7th. Finally, Wells Fargo & Company lowered their target price on shares of Parker-Hannifin from $980.00 to $950.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 26th. Seventeen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $1,100.00.

Parker-Hannifin Trading Up 2.4%

Shares of PH stock opened at $1,040.76 on Thursday. 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 cap of $131.19 billion, a price-to-earnings ratio of 36.53, a PEG ratio of 2.65 and a beta of 1.12. The stock has a 50 day simple moving average of $989.76 and a 200-day simple moving average of $949.93. Parker-Hannifin Corporation has a 1-year low of $715.37 and a 1-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, beating analysts' consensus estimates of $8.31 by $0.96. Parker-Hannifin had a return on equity of 28.48% and a net margin of 16.97%.The firm had revenue of $5.75 billion for the quarter, compared to analyst estimates of $5.57 billion. During the same quarter last year, the firm posted $7.69 EPS. The business's revenue was up 9.8% on a year-over-year basis. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. On average, equities research analysts expect that Parker-Hannifin Corporation will post 34.93 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

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