Equitable Holdings Inc. Purchases New Holdings in Parker-Hannifin Corporation $PH

Key Points

• Equitable Holdings acquired 5,536 Parker-Hannifin shares during the second quarter, valued at approximately $5.4 million. Institutional investors and hedge funds collectively own 82.44% of the company.
• Analyst sentiment remains positive, with 17 Buy ratings and four Holds, producing a “Moderate Buy” consensus and an average price target of $1,100.
• Parker-Hannifin exceeded quarterly expectations, reporting $9.27 EPS and $5.75 billion in revenue, while revenue increased 9.8% year over year. The company also declared a quarterly dividend of $2 per share, equivalent to a 0.8% annual yield.

Equitable Holdings Inc. acquired a new position in Parker-Hannifin Corporation (NYSE:PH - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 5,536 shares of the industrial products company's stock, valued at approximately $5,415,000.

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

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Parker-Hannifin in a research note on Friday, July 17th. Stifel Nicolaus set a $1,075.00 price objective on shares of Parker-Hannifin in a report on Friday, August 7th. Wells Fargo & Company reduced their price objective 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. Truist Financial lifted their target price on shares of Parker-Hannifin from $1,269.00 to $1,358.00 and gave the stock a "buy" rating in a report on Friday, August 7th. Finally, Wall Street Zen cut shares of Parker-Hannifin from a "buy" rating to a "hold" rating in a research report on Saturday, August 22nd. Seventeen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $1,100.00.

Parker-Hannifin Stock Performance

Shares of PH stock opened at $1,010.69 on Friday. The stock has a market cap of $127.40 billion, a PE ratio of 35.48, a price-to-earnings-growth ratio of 2.71 and a beta of 1.12. The stock has a 50-day moving average of $990.89 and a 200-day moving average of $950.16. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.26 and a quick ratio of 0.74. Parker-Hannifin Corporation has a one year low of $715.37 and a one year 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 the consensus estimate of $8.31 by $0.96. Parker-Hannifin had a net margin of 16.97% and a return on equity of 28.48%. The business 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 earned $7.69 EPS. Parker-Hannifin's quarterly revenue was up 9.8% compared to the same quarter last year. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. As a group, sell-side analysts expect that Parker-Hannifin Corporation will post 34.93 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Monday, August 31st will be issued a $2.00 dividend. 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 payout ratio is 28.08%.

Parker-Hannifin Company 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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