Headlands Technologies LLC Sells 2,026 Shares of Parker-Hannifin Corporation $PH

Key Points

• Headlands Technologies cut its Parker-Hannifin stake by 69.8%, selling 2,026 shares and retaining 877 shares valued at approximately $858,000. Institutional investors own 82.44% of the company.
• Analysts remain broadly positive, with 17 Buy ratings and 3 Holds; the stock has a “Moderate Buy” consensus and an average price target of $1,100, while several firms recently raised their targets above $1,200.
• Parker-Hannifin exceeded quarterly expectations with $9.27 earnings per share and $5.75 billion in revenue, up 9.8% year over year. The company also declared a quarterly dividend of $2.00 per share, equal to a 0.8% annualized yield.

Headlands Technologies LLC trimmed its stake in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 69.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 877 shares of the industrial products company's stock after selling 2,026 shares during the quarter. Headlands Technologies LLC's holdings in Parker-Hannifin were worth $858,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PH. BlackRock Inc. bought a new position in shares of Parker-Hannifin in the 2nd quarter worth $10,163,362,000. Bank of America Corp DE bought a new stake in Parker-Hannifin during the 2nd quarter valued at $3,273,507,000. Norges Bank bought a new stake in Parker-Hannifin during the 4th quarter valued at $1,756,230,000. Deutsche Bank AG acquired a new position in Parker-Hannifin during the second quarter worth $987,587,000. Finally, Bank of New York Mellon Corp acquired a new position in Parker-Hannifin during the second quarter worth $712,222,000. 82.44% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on PH shares. Weiss Ratings reiterated a "buy (b)" rating on shares of Parker-Hannifin in a report on Friday, July 17th. KeyCorp raised their price target on shares of Parker-Hannifin from $1,100.00 to $1,210.00 and gave the company an "overweight" rating in a research report on Friday, August 7th. BMO Capital Markets reiterated an "outperform" rating and set a $1,214.00 price target on shares of Parker-Hannifin in a research note on Friday, August 7th. Wells Fargo & Company decreased their price objective on Parker-Hannifin from $980.00 to $950.00 and set an "overweight" rating for the company in a report on Tuesday, May 26th. Finally, Susquehanna increased their price objective on Parker-Hannifin from $1,100.00 to $1,250.00 and gave the stock a "positive" rating in a research note on Friday, August 7th. Seventeen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Parker-Hannifin presently has an average rating of "Moderate Buy" and an average price target of $1,100.00.

Insider Activity at Parker-Hannifin

In other news, VP Berend Bracht sold 602 shares of the business's 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 value of $626,362.94. Following the transaction, the vice president owned 4,399 shares in the company, valued at $4,577,027.53. The trade was a 12.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.32% of the stock is currently owned by corporate insiders.

Parker-Hannifin Stock Performance

NYSE PH opened at $950.80 on Wednesday. The company has a fifty day moving average price of $992.08 and a 200-day moving average price of $949.89. The firm has a market cap of $119.85 billion, a price-to-earnings ratio of 33.37, a PEG ratio of 2.55 and a beta of 1.13. 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 1 year low of $715.37 and a 1 year high of $1,099.94.

Parker-Hannifin (NYSE:PH - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The industrial products company reported $9.27 earnings per share for the quarter, beating analysts' consensus estimates of $8.31 by $0.96. Parker-Hannifin had a net margin of 16.97% and a return on equity of 28.48%. The company had revenue of $5.75 billion for the quarter, compared to analyst estimates of $5.57 billion. During the same period last year, the firm earned $7.69 earnings per share. The firm'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. As a group, equities research analysts predict that Parker-Hannifin Corporation will post 34.93 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Monday, August 31st will be given a dividend of $2.00 per share. 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 dividend payout ratio (DPR) is currently 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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