Jefferies Financial Group Inc. Invests $39.15 Million in Parker-Hannifin Corporation $PH

Key Points

• Jefferies Financial Group acquired 40,030 Parker-Hannifin shares worth approximately $39.15 million in the second quarter. Institutional investors collectively own 82.44% of the company.
• Analyst sentiment remains positive, with 17 Buy ratings and four Holds; the consensus price target is $1,100, while several firms recently raised their targets as high as $1,358.
• Parker-Hannifin exceeded quarterly expectations, reporting $9.27 in EPS and $5.75 billion in revenue, up 9.8% year over year. The company also announced a quarterly dividend of $2 per share, equating to a 0.8% annual yield.

Jefferies Financial Group Inc. purchased a new stake in Parker-Hannifin Corporation (NYSE:PH - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 40,030 shares of the industrial products company's stock, valued at approximately $39,154,000.

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

Analyst Ratings Changes

Several brokerages have weighed in on PH. KeyCorp upped their target price on shares of Parker-Hannifin from $1,100.00 to $1,210.00 and gave the stock an "overweight" rating in a research report on Friday, August 7th. Wells Fargo & Company decreased their price target on 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 raised their price objective 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. UBS Group lifted their price objective on Parker-Hannifin from $1,092.00 to $1,250.00 and gave the stock a "buy" rating in a report on Friday, August 7th. Finally, BNP Paribas Exane reiterated an "outperform" rating and set a $1,220.00 target price (up from $1,090.00) on shares of Parker-Hannifin in a research 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's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $1,100.00.

Parker-Hannifin Stock Down 2.8%

PH stock opened at $1,010.69 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.26 and a quick ratio of 0.74. The company's 50 day simple moving average is $990.89 and its 200-day simple moving average is $950.16. Parker-Hannifin Corporation has a 12 month low of $715.37 and a 12 month high of $1,099.94. The firm has a market capitalization of $127.40 billion, a PE ratio of 35.48, a P/E/G ratio of 2.71 and a beta of 1.12.

Parker-Hannifin (NYSE:PH - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The industrial products company reported $9.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.31 by $0.96. Parker-Hannifin had a return on equity of 28.48% and a net margin of 16.97%.The firm had revenue of $5.75 billion during the quarter, compared to the consensus estimate of $5.57 billion. During the same period in the previous year, the firm posted $7.69 EPS. The company'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. Equities analysts expect that Parker-Hannifin Corporation will post 34.93 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

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

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.

Want to see what other hedge funds are holding PH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Parker-Hannifin Corporation (NYSE:PH - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source