Parker-Hannifin Corporation $PH Stake Boosted by Martingale Asset Management L P

Key Points

• Martingale Asset Management L P increased its stake in Parker-Hannifin Corporation by 1.6% in Q1 2023, bringing its total holdings to 23,946 shares valued at approximately $14.6 million.
• Parker-Hannifin has seen significant involvement from other institutional investors, with several new stakes and increased holdings, leading to a total of 82.44% of shares owned by institutional investors.
• Recent analyst reports have generally shown optimism, with price targets being raised by firms like Wells Fargo and Raymond James, resulting in a consensus price target of $768.71 and a consensus rating of "Moderate Buy."

Martingale Asset Management L P increased its position in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 1.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,946 shares of the industrial products company's stock after acquiring an additional 366 shares during the quarter. Martingale Asset Management L P's holdings in Parker-Hannifin were worth $14,556,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mpwm Advisory Solutions LLC purchased a new stake in shares of Parker-Hannifin during the 4th quarter valued at approximately $32,000. Olde Wealth Management LLC purchased a new stake in Parker-Hannifin during the 1st quarter worth about $35,000. Chilton Capital Management LLC lifted its stake in Parker-Hannifin by 1,500.0% in the first quarter. Chilton Capital Management LLC now owns 64 shares of the industrial products company's stock worth $39,000 after acquiring an additional 60 shares during the last quarter. Accent Capital Management LLC acquired a new stake in Parker-Hannifin in the first quarter valued at $41,000. Finally, Sierra Ocean LLC raised its stake in Parker-Hannifin by 89.5% in the first quarter. Sierra Ocean LLC now owns 72 shares of the industrial products company's stock valued at $44,000 after buying an additional 34 shares in the last quarter. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on PH shares. Mizuho set a $785.00 price objective on Parker-Hannifin in a report on Friday, May 16th. Morgan Stanley increased their price target on shares of Parker-Hannifin from $700.00 to $725.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 9th. Wells Fargo & Company boosted their price objective on shares of Parker-Hannifin from $770.00 to $800.00 and gave the stock an "overweight" rating in a research report on Friday, August 8th. Barclays increased their target price on shares of Parker-Hannifin from $750.00 to $776.00 and gave the company an "overweight" rating in a research report on Friday, August 8th. Finally, Citigroup reissued a "buy" rating and issued a $831.00 price target (up from $709.00) on shares of Parker-Hannifin in a research report on Monday, July 14th. Fourteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $768.71.

Parker-Hannifin Price Performance

PH stock traded up $19.3280 during midday trading on Friday, hitting $752.3780. 725,793 shares of the stock were exchanged, compared to its average volume of 767,288. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.71 and a current ratio of 1.19. The stock has a market cap of $96.14 billion, a price-to-earnings ratio of 27.74, a PEG ratio of 3.12 and a beta of 1.37. Parker-Hannifin Corporation has a fifty-two week low of $488.45 and a fifty-two week high of $763.99. The stock's 50-day moving average price is $713.04 and its 200-day moving average price is $660.45.

Parker-Hannifin (NYSE:PH - Get Free Report) last announced its earnings results on Thursday, August 7th. The industrial products company reported $7.69 earnings per share for the quarter, beating the consensus estimate of $7.08 by $0.61. Parker-Hannifin had a net margin of 17.79% and a return on equity of 26.80%. The firm had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.10 billion. During the same quarter in the previous year, the company posted $6.77 EPS. The firm's revenue for the quarter was up 1.1% on a year-over-year basis. Parker-Hannifin has set its FY 2026 guidance at 28.400-29.400 EPS. Research analysts predict that Parker-Hannifin Corporation will post 26.71 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Tuesday, September 2nd will be issued a $1.80 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $7.20 annualized dividend and a yield of 1.0%. Parker-Hannifin's dividend payout ratio (DPR) is presently 26.55%.

Insider Buying and Selling

In other news, VP Matthew A. Jacobson sold 575 shares of the firm's stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $733.06, for a total transaction of $421,509.50. Following the completion of the sale, the vice president directly owned 1,000 shares in the company, valued at $733,060. This trade represents a 36.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Andrew D. Ross sold 4,361 shares of the stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $732.66, for a total value of $3,195,130.26. Following the completion of the transaction, the chief operating officer directly owned 13,120 shares of the company's stock, valued at $9,612,499.20. This represents a 24.95% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 9,414 shares of company stock valued at $6,883,931. 0.39% of the stock is owned by corporate insiders.

Parker-Hannifin Company Profile

Parker-Hannifin Corporation manufactures and sells motion and control technologies and systems for various mobile, industrial, and aerospace markets worldwide. The company operates through two segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial segment offers sealing, shielding, thermal products and systems, adhesives, coatings, and noise vibration and harshness solutions; filters, systems, and diagnostics solutions to ensure purity and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors used in fluid and gas handling; and hydraulic, pneumatic, and electromechanical components and systems for builders and users of mobile and industrial machinery and equipment.