Parker-Hannifin Corporation $PH Shares Acquired by Covea Finance

Key Points

• Covea Finance increased its stake in Parker-Hannifin by 3.4%, holding 33,367 shares valued at $23.3 million, as reported in their recent SEC disclosure.
• Parker-Hannifin reported $7.69 EPS in its last quarterly earnings, exceeding analysts' expectations, with revenue of $5.24 billion, marking a 1.1% year-over-year increase.
• The company declared a quarterly dividend of $1.80 per share, resulting in an annualized dividend yield of 0.9% and a payout ratio of 26.55%.

Covea Finance grew its position in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 3.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 33,367 shares of the industrial products company's stock after purchasing an additional 1,100 shares during the quarter. Covea Finance's holdings in Parker-Hannifin were worth $23,306,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in PH. GAMMA Investing LLC grew its holdings in shares of Parker-Hannifin by 66,111.8% during the first quarter. GAMMA Investing LLC now owns 1,735,412 shares of the industrial products company's stock worth $1,054,870,000 after purchasing an additional 1,732,791 shares during the last quarter. Nuveen LLC purchased a new position in shares of Parker-Hannifin during the first quarter worth about $933,089,000. Price T Rowe Associates Inc. MD grew its holdings in shares of Parker-Hannifin by 52.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,443,104 shares of the industrial products company's stock worth $1,485,042,000 after buying an additional 842,262 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Parker-Hannifin by 11.6% during the first quarter. Wellington Management Group LLP now owns 2,009,250 shares of the industrial products company's stock worth $1,221,323,000 after buying an additional 208,573 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Parker-Hannifin by 23.8% during the first quarter. Goldman Sachs Group Inc. now owns 996,738 shares of the industrial products company's stock worth $605,867,000 after buying an additional 191,799 shares during the last quarter. Hedge funds and other institutional investors own 82.44% of the company's stock.

Parker-Hannifin Price Performance

Shares of NYSE:PH opened at $760.74 on Tuesday. The company has a 50-day moving average price of $741.46 and a 200 day moving average price of $673.22. Parker-Hannifin Corporation has a 52 week low of $488.45 and a 52 week high of $779.77. The company has a quick ratio of 0.71, a current ratio of 1.19 and a debt-to-equity ratio of 0.55. The company has a market cap of $97.21 billion, a P/E ratio of 28.05, a PEG ratio of 3.13 and a beta of 1.35.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The industrial products company reported $7.69 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $7.08 by $0.61. Parker-Hannifin had a net margin of 17.79% and a return on equity of 26.80%. The company had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.10 billion. During the same period last year, the firm earned $6.77 EPS. The company'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 Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Tuesday, September 2nd were given a dividend of $1.80 per share. This represents a $7.20 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Tuesday, September 2nd. Parker-Hannifin's dividend payout ratio (DPR) is presently 26.55%.

Insider Activity at Parker-Hannifin

In related news, VP Matthew A. Jacobson sold 575 shares of Parker-Hannifin stock in a transaction that occurred on 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 transaction, the vice president directly owned 1,000 shares in the company, valued at $733,060. The trade was a 36.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Angela R. Ives sold 810 shares of Parker-Hannifin stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $727.36, for a total value of $589,161.60. Following the transaction, the vice president owned 2,798 shares of the company's stock, valued at $2,035,153.28. This represents a 22.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,039 shares of company stock worth $10,356,566. 0.39% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PH. Wall Street Zen raised Parker-Hannifin from a "hold" rating to a "buy" rating in a report on Saturday. Susquehanna began coverage on Parker-Hannifin in a report on Friday, August 15th. They set a "positive" rating and a $860.00 price target on the stock. Wells Fargo & Company raised their price target on Parker-Hannifin from $770.00 to $800.00 and gave the stock an "overweight" rating in a report on Friday, August 8th. Evercore ISI reissued an "outperform" rating on shares of Parker-Hannifin in a report on Tuesday, August 19th. Finally, Citigroup restated a "buy" rating and issued a $831.00 price objective (up previously from $709.00) on shares of Parker-Hannifin in a research report on Monday, July 14th. Thirteen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, Parker-Hannifin has an average rating of "Moderate Buy" and a consensus price target of $770.94.

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.

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