Ieq Capital LLC Has $5.99 Million Position in Parker-Hannifin Corporation $PH

Key Points

• Ieq Capital increased its Parker-Hannifin position by 396.1% in the second quarter, holding 6,122 shares valued at approximately $5.99 million. Institutional investors and hedge funds own 82.44% of the company.
• Parker-Hannifin reported quarterly earnings of $9.27 per share, beating estimates by $0.96, while revenue rose 9.8% year over year to $5.75 billion.
• The company declared a quarterly dividend of $2.00 per share, or $8.00 annually, representing a 0.8% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $1,100.

Ieq Capital LLC grew its holdings in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 396.1% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,122 shares of the industrial products company's stock after acquiring an additional 4,888 shares during the quarter. Ieq Capital LLC's holdings in Parker-Hannifin were worth $5,988,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of PH. Texas Capital Bancshares Inc TX acquired a new stake in Parker-Hannifin during the third quarter worth about $25,000. HFM Investment Advisors LLC raised its position in shares of Parker-Hannifin by 1,000.0% in the 4th quarter. HFM Investment Advisors LLC now owns 33 shares of the industrial products company's stock valued at $29,000 after buying an additional 30 shares in the last quarter. Lloyd Advisory Services LLC. bought a new stake in shares of Parker-Hannifin during the 4th quarter worth approximately $31,000. NFSG Corp lifted its holdings in shares of Parker-Hannifin by 94.4% during the 1st quarter. NFSG Corp now owns 35 shares of the industrial products company's stock worth $31,000 after acquiring an additional 17 shares during the period. Finally, First Command Advisory Services Inc. boosted its position in shares of Parker-Hannifin by 1,133.3% during the 4th quarter. First Command Advisory Services Inc. now owns 37 shares of the industrial products company's stock worth $33,000 after acquiring an additional 34 shares in the last quarter. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Parker-Hannifin Stock Up 0.1%

Shares of NYSE:PH opened at $1,002.90 on Monday. The firm has a market cap of $126.46 billion, a P/E ratio of 35.20, a P/E/G ratio of 2.61 and a beta of 1.12. Parker-Hannifin Corporation has a 12-month low of $715.37 and a 12-month high of $1,099.94. The business has a fifty day simple moving average of $984.42 and a 200 day simple moving average of $948.72. 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 (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 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 business had revenue of $5.75 billion during the quarter, compared to the consensus estimate of $5.57 billion. During the same quarter in the prior year, the firm posted $7.69 EPS. The company's revenue for the quarter 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. Analysts predict that Parker-Hannifin Corporation will post 34.93 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The company 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 is Monday, August 31st. This represents a $8.00 annualized dividend and a yield of 0.8%. Parker-Hannifin's dividend payout ratio is presently 28.08%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on PH shares. Truist Financial lifted their price target on Parker-Hannifin from $1,269.00 to $1,358.00 and gave the company a "buy" rating in a research note on Friday, August 7th. Sanford C. Bernstein upped their price objective on Parker-Hannifin from $1,037.00 to $1,218.00 and gave the stock an "outperform" rating in a research report on Friday, August 14th. Evercore set a $1,064.00 price objective on Parker-Hannifin in a research note on Monday, May 11th. KeyCorp lifted their target price on 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. Finally, Stifel Nicolaus set a $1,075.00 target price on shares of Parker-Hannifin in a report on Friday, August 7th. Seventeen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $1,100.00.

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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