BNP Paribas raised its stake in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 4.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,208 shares of the industrial products company's stock after purchasing an additional 2,121 shares during the period. Parker-Hannifin comprises 1.4% of BNP Paribas' investment portfolio, making the stock its 18th biggest position. BNP Paribas' holdings in Parker-Hannifin were worth $52,717,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also made changes to their positions in PH. BlackRock Inc. acquired a new position in Parker-Hannifin in the second quarter valued at $10,163,362,000. Bank of America Corp DE lifted its stake in shares of Parker-Hannifin by 0.6% in the fourth quarter. Bank of America Corp DE now owns 3,926,896 shares of the industrial products company's stock valued at $3,451,584,000 after purchasing an additional 22,305 shares during the period. Capital World Investors lifted its position in shares of Parker-Hannifin by 0.6% during the 4th quarter. Capital World Investors now owns 2,600,844 shares of the industrial products company's stock valued at $2,286,038,000 after acquiring an additional 16,703 shares during the period. Morgan Stanley increased its stake in shares of Parker-Hannifin by 1.1% during the 4th quarter. Morgan Stanley now owns 2,133,044 shares of the industrial products company's stock worth $1,874,862,000 after purchasing an additional 22,367 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Parker-Hannifin during the fourth quarter worth about $1,756,230,000. 82.44% of the stock is owned by institutional investors and hedge funds.
Insider Activity at Parker-Hannifin
In other news, VP Berend Bracht sold 602 shares of Parker-Hannifin stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $1,040.47, for a total transaction of $626,362.94. Following the sale, the vice president owned 4,399 shares of the company's stock, valued at approximately $4,577,027.53. The trade was a 12.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.32% of the company's stock.
Wall Street Analysts Forecast Growth
PH has been the subject of several analyst reports. BNP Paribas Exane reiterated an "outperform" rating and issued a $1,220.00 target price (up from $1,090.00) on shares of Parker-Hannifin in a research note on Friday, August 7th. BMO Capital Markets reissued an "outperform" rating and set a $1,214.00 price objective on shares of Parker-Hannifin in a research note on Friday, August 7th. Wall Street Zen lowered Parker-Hannifin from a "buy" rating to a "hold" rating in a research report on Saturday, August 22nd. Citigroup lifted their target price on Parker-Hannifin from $1,141.00 to $1,232.00 and gave the company a "buy" rating in a report on Friday, August 7th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Parker-Hannifin in a report on Friday, July 17th. Seventeen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, Parker-Hannifin currently has an average rating of "Moderate Buy" and a consensus price target of $1,100.00.
Read Our Latest Research Report on Parker-Hannifin
Parker-Hannifin Stock Down 1.6%
Shares of Parker-Hannifin stock opened at $995.24 on Friday. The firm has a market cap of $125.45 billion, a P/E ratio of 34.93, a P/E/G ratio of 2.63 and a beta of 1.12. The business has a 50-day moving average price of $991.71 and a 200 day moving average price of $950.48. The company has a quick ratio of 0.74, a current ratio of 1.26 and a debt-to-equity ratio of 0.44. Parker-Hannifin Corporation has a fifty-two week low of $715.37 and a fifty-two week high of $1,099.94.
Parker-Hannifin (NYSE:PH - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The industrial products company reported $9.27 earnings per share (EPS) for the quarter, beating 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 business had revenue of $5.75 billion for the quarter, compared to analyst estimates of $5.57 billion. During the same period in the prior year, the company posted $7.69 EPS. The business's 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, sell-side analysts forecast that Parker-Hannifin Corporation will post 34.93 earnings per share for the current fiscal year.
Parker-Hannifin Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Monday, August 31st will be paid a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Monday, August 31st. Parker-Hannifin's payout ratio is presently 28.08%.
Parker-Hannifin Profile
(
Free Report)
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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