National Pension Service Acquires 10,590 Shares of Parker-Hannifin Corporation $PH

Key Points

• National Pension Service increased its Parker-Hannifin stake by 3% in the second quarter, purchasing 10,590 shares and bringing its holdings to 367,138 shares valued at approximately $359.1 million.
• Parker-Hannifin reported strong quarterly results, with earnings of $9.27 per share and revenue of $5.75 billion, exceeding analyst estimates; revenue rose 9.8% year over year.
• Analyst sentiment remains positive, with 17 Buy ratings and two Holds producing a “Moderate Buy” consensus and an average price target of $1,114.55. The company also declared a quarterly dividend of $2.00 per share.

National Pension Service increased its holdings in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 3.0% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 367,138 shares of the industrial products company's stock after purchasing an additional 10,590 shares during the period. National Pension Service owned approximately 0.29% of Parker-Hannifin worth $359,105,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Fideuram Asset Management Ireland dac bought a new stake in shares of Parker-Hannifin in the fourth quarter valued at about $1,253,000. Proficio Capital Partners LLC increased its stake in Parker-Hannifin by 234.0% during the second 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 during the period. BNP Paribas raised its holdings in Parker-Hannifin by 4.1% in 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 acquired a new position in Parker-Hannifin in the 4th quarter valued at approximately $1,736,000. Finally, Jefferies Financial Group Inc. bought a new stake in shares of Parker-Hannifin in the 4th quarter worth approximately $11,434,000. Institutional investors own 82.44% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. BMO Capital Markets reiterated an "outperform" rating and set a $1,214.00 price target on shares of Parker-Hannifin in a research note on Friday, August 7th. Citigroup raised their price objective on shares of Parker-Hannifin from $1,141.00 to $1,232.00 and gave the stock a "buy" rating in a report on Friday, August 7th. Wells Fargo & Company decreased their target price on shares of Parker-Hannifin from $980.00 to $950.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 26th. UBS Group upped their target price on shares of Parker-Hannifin from $1,092.00 to $1,250.00 and gave the company a "buy" rating in a research note on Friday, August 7th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Parker-Hannifin in a research report on Friday, July 17th. Seventeen analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $1,114.55.

Parker-Hannifin Stock Performance

Shares of NYSE:PH opened at $951.48 on Thursday. 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 business's fifty day moving average price is $990.48 and its two-hundred day moving average price is $948.09. Parker-Hannifin Corporation has a fifty-two week low of $715.37 and a fifty-two week high of $1,099.94. The stock has a market capitalization of $119.93 billion, a price-to-earnings ratio of 33.40, a price-to-earnings-growth ratio of 2.60 and a beta of 1.13.

Parker-Hannifin (NYSE:PH - Get Free Report) last issued its earnings results on Thursday, August 6th. The industrial products company reported $9.27 EPS for the quarter, beating the consensus estimate of $8.31 by $0.96. Parker-Hannifin had a net margin of 16.97% and a return on equity of 28.48%. The company had revenue of $5.75 billion for the quarter, compared to the consensus estimate of $5.57 billion. During the same quarter in the previous year, the company earned $7.69 EPS. The firm'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. As a group, analysts predict that Parker-Hannifin Corporation will post 35 EPS for the current fiscal 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 given a $2.00 dividend. The ex-dividend date is Monday, August 31st. This represents a $8.00 dividend on an annualized basis and a yield of 0.8%. Parker-Hannifin's payout ratio is 28.08%.

Insider Buying and Selling

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 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 can be accessed through this link. 0.32% of the stock is currently owned by company insiders.

Parker-Hannifin Company Profile

Parker-Hannifin Corporation NYSE: PH is a diversified manufacturer of motion and control technologies. The company develops and produces systems and components that manage the movement and flow of liquids, gases and other materials for industrial, mobile and aerospace applications.

Its products include hydraulic and pneumatic systems, fluid connectors, filtration and process-control equipment, electromechanical technologies, seals, thermal-management solutions and aerospace systems. Parker-Hannifin serves manufacturers and operators in markets such as factory automation, transportation, energy, construction, life sciences and aviation.

Founded in 1917, Parker-Hannifin is headquartered in Cleveland, Ohio, and serves customers through manufacturing, distribution and sales operations across North America, Europe, Asia and other international markets.

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