iSAM Funds UK Ltd Sells 2,222 Shares of Parker-Hannifin Corporation $PH

Key Points

• iSAM Funds UK Ltd cut its Parker-Hannifin stake by 62% in the second quarter, selling 2,222 shares and retaining 1,360 shares worth approximately $1.33 million. Institutional investors own 82.44% of the company.
• Analyst sentiment remains positive, with 17 Buy ratings and three Holds, producing a “Moderate Buy” consensus and an average price target of $1,100; several firms recently raised their targets.
• Parker-Hannifin exceeded quarterly expectations with $9.27 in EPS and $5.75 billion in revenue, while revenue rose 9.8% year over year. The company also declared a quarterly dividend of $2.00 per share, equivalent to an annualized yield of 0.8%.

iSAM Funds UK Ltd decreased its holdings in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 62.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,360 shares of the industrial products company's stock after selling 2,222 shares during the period. Parker-Hannifin makes up about 0.9% of iSAM Funds UK Ltd's portfolio, making the stock its 22nd largest position. iSAM Funds UK Ltd's holdings in Parker-Hannifin were worth $1,330,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in PH. Fideuram Asset Management Ireland dac bought a new stake in Parker-Hannifin during the fourth quarter worth $1,253,000. Proficio Capital Partners LLC lifted its stake in Parker-Hannifin by 234.0% during the 2nd quarter. Proficio Capital Partners LLC now owns 1,954 shares of the industrial products company's stock valued at $1,911,000 after acquiring an additional 1,369 shares in the last quarter. BNP Paribas lifted its stake in Parker-Hannifin by 4.1% during the 2nd quarter. BNP Paribas now owns 54,208 shares of the industrial products company's stock valued at $52,717,000 after acquiring an additional 2,121 shares in the last quarter. Shepherd Street Advisors LLC purchased a new position in Parker-Hannifin during the 4th quarter worth $1,736,000. Finally, Jefferies Financial Group Inc. bought a new stake in shares of Parker-Hannifin in the 4th quarter worth $11,434,000. 82.44% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on PH shares. Susquehanna increased their target price on shares of Parker-Hannifin from $1,100.00 to $1,250.00 and gave the company a "positive" rating in a report on Friday, August 7th. Sanford C. Bernstein boosted their price target on shares of Parker-Hannifin from $1,037.00 to $1,218.00 and gave the stock an "outperform" rating in a report on Friday, August 14th. Stifel Nicolaus set a $1,075.00 price objective on shares of Parker-Hannifin in a research report on Friday, August 7th. JPMorgan Chase & Co. decreased their price objective on shares of Parker-Hannifin from $1,100.00 to $1,060.00 and set an "overweight" rating for the company in a research note on Thursday, May 7th. Finally, Evercore set a $1,064.00 target price on shares of Parker-Hannifin in a research report on Monday, May 11th. Seventeen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $1,100.00.

Parker-Hannifin Price Performance

Parker-Hannifin stock opened at $950.44 on Thursday. The business's 50 day simple moving average is $991.86 and its 200 day simple moving average is $949.67. Parker-Hannifin Corporation has a 12 month low of $715.37 and a 12 month high of $1,099.94. The company has a market cap of $119.80 billion, a price-to-earnings ratio of 33.36, a PEG ratio of 2.60 and a beta of 1.13. The company has a current ratio of 1.26, a quick ratio of 0.74 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 (EPS) for the quarter, topping analysts' consensus estimates of $8.31 by $0.96. The business had revenue of $5.75 billion during the quarter, compared to the consensus estimate of $5.57 billion. Parker-Hannifin had a return on equity of 28.48% and a net margin of 16.97%.The business's revenue for the quarter was up 9.8% on a year-over-year basis. During the same period last year, the business posted $7.69 earnings per share. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. Sell-side analysts forecast that Parker-Hannifin Corporation will post 34.93 EPS for the current year.

Parker-Hannifin Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Monday, August 31st will be paid a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Monday, August 31st. Parker-Hannifin's payout ratio is currently 28.08%.

Insider Transactions at Parker-Hannifin

In other Parker-Hannifin 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 sale, the vice president directly owned 4,399 shares of the company's stock, valued at $4,577,027.53. This represents a 12.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.32% of the company's stock.

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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