NewEdge Advisors LLC Boosts Holdings in Parker-Hannifin Corporation $PH

Key Points

• NewEdge Advisors increased its Parker-Hannifin stake by 7.9% in the second quarter, bringing its holdings to 17,785 shares valued at approximately $17.4 million. Institutional investors collectively own 82.44% of the company.
• Parker-Hannifin reported quarterly EPS of $9.27, beating estimates of $8.31, while revenue rose 9.8% year over year to $5.75 billion. The company issued fiscal 2027 EPS guidance of $34.25 to $35.25.
• Analyst sentiment remains positive, with 17 Buy ratings and two Holds and an average price target of $1,114.55. Parker-Hannifin also declared a quarterly dividend of $2.00 per share, representing a 0.9% annualized yield.

NewEdge Advisors LLC increased its holdings in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 7.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,785 shares of the industrial products company's stock after buying an additional 1,309 shares during the period. NewEdge Advisors LLC's holdings in Parker-Hannifin were worth $17,396,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. California State Teachers Retirement System boosted its holdings in Parker-Hannifin by 96,423.1% in the second quarter. California State Teachers Retirement System now owns 184,153,587 shares of the industrial products company's stock valued at $180,124,307,000 after purchasing an additional 183,962,800 shares during the period. BlackRock Inc. purchased a new stake in Parker-Hannifin during the 2nd quarter worth about $10,163,362,000. Bank of America Corp DE purchased a new stake in Parker-Hannifin during the 2nd quarter worth about $3,273,507,000. Norges Bank acquired a new stake in Parker-Hannifin in the 4th quarter valued at about $1,756,230,000. Finally, Deutsche Bank AG purchased a new position in shares of Parker-Hannifin in the 2nd quarter valued at about $987,587,000. Hedge funds and other institutional investors own 82.44% of the company's stock.

Parker-Hannifin Stock Down 1.6%

PH stock opened at $933.97 on Friday. The company has a current ratio of 1.26, a quick ratio of 0.74 and a debt-to-equity ratio of 0.44. The company's 50-day moving average price is $989.89 and its 200 day moving average price is $947.46. Parker-Hannifin Corporation has a 52 week low of $715.37 and a 52 week high of $1,099.94. The company has a market cap of $117.73 billion, a P/E ratio of 32.78, a P/E/G ratio of 2.58 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 earnings per share (EPS) 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 company had revenue of $5.75 billion during the quarter, compared to analysts' expectations of $5.57 billion. During the same period last year, the company posted $7.69 earnings per share. The firm'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. On average, research analysts expect that Parker-Hannifin Corporation will post 35 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The company also recently declared 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. The ex-dividend date is Monday, August 31st. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.9%. Parker-Hannifin's dividend payout ratio (DPR) is currently 28.08%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PH. Susquehanna boosted their price objective on Parker-Hannifin from $1,100.00 to $1,250.00 and gave the stock a "positive" rating in a research report on Friday, August 7th. Stifel Nicolaus set a $1,075.00 price target on Parker-Hannifin in a report on Friday, August 7th. KeyCorp boosted their target price on Parker-Hannifin from $1,100.00 to $1,210.00 and gave the company an "overweight" rating in a report on Friday, August 7th. BNP Paribas Exane reiterated an "outperform" rating and set a $1,220.00 price target (up from $1,090.00) on shares of Parker-Hannifin in a research note on Friday, August 7th. Finally, Wells Fargo & Company dropped their target price on Parker-Hannifin from $980.00 to $950.00 and set an "overweight" rating on the stock in a report on Tuesday, May 26th. Seventeen equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $1,114.55.

Insider Activity

In related news, VP Berend Bracht sold 602 shares of the business's stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $1,040.47, for a total value of $626,362.94. Following the sale, the vice president directly owned 4,399 shares in the company, valued at $4,577,027.53. The trade was a 12.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.32% of the stock is owned by company insiders.

About Parker-Hannifin

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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