Parker-Hannifin Corporation $PH Shares Acquired by International Assets Investment Management LLC

Key Points

• International Assets Investment Management LLC increased its Parker-Hannifin position by 3,529.8% in the third quarter, bringing its holdings to 20,000 shares valued at approximately $19.1 million. Institutional investors collectively own 82.44% of the company.
• Analyst sentiment remains favorable, with 18 Buy ratings and five Hold ratings. Parker-Hannifin has a consensus rating of “Moderate Buy” and an average price target of $1,146.35.
• PH shares opened at $898.73 after falling 3.2%; the company recently exceeded quarterly earnings and revenue expectations and declared a $2.00 quarterly dividend, equivalent to a 0.9% annualized yield.

International Assets Investment Management LLC increased its position in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 3,529.8% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,000 shares of the industrial products company's stock after purchasing an additional 19,449 shares during the quarter. International Assets Investment Management LLC's holdings in Parker-Hannifin were worth $19,108,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in Parker-Hannifin in the second quarter valued at about $10,163,362,000. State Street Corp grew its stake in Parker-Hannifin by 0.5% during the second quarter. State Street Corp now owns 9,385,389 shares of the industrial products company's stock worth $9,180,037,000 after buying an additional 42,548 shares during the last quarter. Bank of America Corp DE acquired a new stake in shares of Parker-Hannifin during the second quarter worth approximately $3,273,507,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Parker-Hannifin by 2.5% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,032,942 shares of the industrial products company's stock worth $1,010,341,000 after buying an additional 25,167 shares in the last quarter. Finally, Deutsche Bank AG bought a new position in shares of Parker-Hannifin in the second quarter valued at approximately $987,587,000. 82.44% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PH has been the topic of several recent analyst reports. Stifel Nicolaus set a $1,002.00 target price on Parker-Hannifin in a report on Monday, October 19th. Truist Financial raised their price target on Parker-Hannifin from $1,269.00 to $1,358.00 and gave the company a "buy" rating in a report on Friday, August 7th. Citigroup raised their price target on Parker-Hannifin from $1,232.00 to $1,234.00 and gave the company a "buy" rating in a report on Monday, October 12th. Wells Fargo & Company started coverage on Parker-Hannifin in a research report on Thursday, September 24th. They issued an "equal weight" rating and a $1,050.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Parker-Hannifin from $998.00 to $1,023.00 and gave the stock a "hold" rating in a research note on Wednesday, September 30th. Eighteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $1,146.35.

Insider Transactions at Parker-Hannifin

In other Parker-Hannifin news, VP Berend Bracht sold 602 shares of the company's stock in a transaction 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 transaction, the vice president owned 4,399 shares of the company's stock, valued at approximately $4,577,027.53. This represents a 12.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.35% of the company's stock.

Parker-Hannifin Trading Down 3.2%

Shares of NYSE PH opened at $898.73 on Friday. Parker-Hannifin Corporation has a 1-year low of $755.10 and a 1-year high of $1,099.94. The company has a 50-day moving average of $956.18 and a two-hundred day moving average of $949.73. The company has a market cap of $113.34 billion, a PE ratio of 31.55, a P/E/G ratio of 2.59 and a beta of 1.12. The company has a current ratio of 1.26, a quick ratio of 0.74 and a debt-to-equity ratio of 0.44.

Parker-Hannifin (NYSE:PH - Get Free Report) last released its quarterly 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 business had revenue of $5.75 billion for the quarter, compared to analysts' expectations of $5.57 billion. During the same period in the prior year, the firm earned $7.69 earnings per share. Parker-Hannifin'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. As a group, equities analysts expect that Parker-Hannifin Corporation will post 35.72 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 4th. Shareholders of record on Friday, November 13th will be issued a dividend of $2.00 per share. The ex-dividend date of this dividend is Friday, November 13th. This represents a $8.00 annualized dividend and a yield of 0.9%. Parker-Hannifin's dividend payout ratio is currently 28.08%.

Parker-Hannifin Profile

Parker-Hannifin Corporation is a diversified manufacturer of motion and control technologies and systems. The company serves aerospace, industrial, and other specialized markets with products designed to control the movement and flow of liquids and gases, as well as mechanical motion and power.

Its product portfolio includes hydraulic and pneumatic systems, filtration and process-control equipment, electromechanical technologies, sealing and shielding products, connectors, pumps, valves, and related components.

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