Hsbc Holdings PLC Has $229.28 Million Stock Position in Parker-Hannifin Corporation $PH

Key Points

• HSBC Holdings increased its Parker-Hannifin stake by 3.2% in the second quarter, owning 234,789 shares valued at approximately $229.3 million. Institutional investors collectively hold 82.44% of the company.
• Parker-Hannifin exceeded quarterly expectations, reporting $9.27 in EPS and $5.75 billion in revenue, with revenue up 9.8% year over year. Analysts maintain a “Moderate Buy” consensus and an average price target of $1,114.55.
• The company declared a quarterly dividend of $2 per share, equivalent to an annualized $8 dividend and a 0.8% yield; meanwhile, a company vice president sold 602 shares worth about $626,000.

Hsbc Holdings PLC grew its holdings in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 3.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 234,789 shares of the industrial products company's stock after purchasing an additional 7,365 shares during the quarter. Hsbc Holdings PLC owned about 0.19% of Parker-Hannifin worth $229,281,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Texas Capital Bancshares Inc TX bought a new position in Parker-Hannifin during the third quarter valued at about $25,000. Archer Investment Corp bought a new stake in shares of Parker-Hannifin during the 2nd quarter worth about $28,000. HFM Investment Advisors LLC boosted its stake in shares of Parker-Hannifin by 1,000.0% during the 4th quarter. HFM Investment Advisors LLC now owns 33 shares of the industrial products company's stock worth $29,000 after acquiring an additional 30 shares in the last quarter. Lloyd Advisory Services LLC. acquired a new position in shares of Parker-Hannifin during the 4th quarter valued at about $31,000. Finally, NFSG Corp raised its stake in shares of Parker-Hannifin by 94.4% in the 1st quarter. NFSG Corp now owns 35 shares of the industrial products company's stock valued at $31,000 after acquiring an additional 17 shares in the last quarter. Institutional investors and hedge funds own 82.44% of the company's stock.

Insider Transactions at Parker-Hannifin

In other news, VP Berend Bracht sold 602 shares of the company's stock in a transaction dated 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 completion of the transaction, the vice president owned 4,399 shares of the company's stock, valued at approximately $4,577,027.53. This represents a 12.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.32% of the stock is owned by corporate insiders.

Parker-Hannifin Price Performance

Shares of NYSE:PH opened at $962.40 on Monday. The company has a market cap of $121.31 billion, a price-to-earnings ratio of 33.78, a PEG ratio of 2.62 and a beta of 1.13. The business has a 50 day moving average price of $991.22 and a 200 day moving average price of $949.13. The company has a quick ratio of 0.74, a current ratio of 1.26 and a debt-to-equity ratio of 0.44. Parker-Hannifin Corporation has a twelve month low of $715.37 and a twelve month high of $1,099.94.

Parker-Hannifin (NYSE:PH - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The industrial products company reported $9.27 EPS for the quarter, topping 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 company had revenue of $5.75 billion during the quarter, compared to analyst estimates of $5.57 billion. The company's quarterly revenue was up 9.8% compared to the same quarter last year. During the same period in the previous year, the company earned $7.69 earnings per share. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. Research analysts predict that Parker-Hannifin Corporation will post 34.96 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Shareholders 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 dividend on an annualized basis and a yield of 0.8%. Parker-Hannifin's dividend payout ratio is 28.08%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on PH shares. Evercore set a $1,064.00 target price on Parker-Hannifin in a report on Monday, May 11th. BNP Paribas Exane reissued an "outperform" rating and issued a $1,220.00 price target (up from $1,090.00) on shares of Parker-Hannifin in a research report on Friday, August 7th. BMO Capital Markets restated an "outperform" rating and issued a $1,214.00 price objective on shares of Parker-Hannifin in a research note on Friday, August 7th. KeyCorp upped their price objective on shares of Parker-Hannifin from $1,100.00 to $1,210.00 and gave the stock an "overweight" rating in a report on Friday, August 7th. Finally, Stifel Nicolaus set a $1,075.00 target price on shares of Parker-Hannifin in a report on Friday, August 7th. Seventeen analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $1,114.55.

About Parker-Hannifin

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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