Parker-Hannifin Corporation $PH Shares Acquired by Tower View Wealth Management LLC

Key Points

• Tower View Wealth Management increased its Parker-Hannifin stake by 31.2% in the third quarter, acquiring 1,692 additional shares for a total of 7,111 shares valued at approximately $6.8 million.
• Institutional investors and hedge funds own 82.44% of Parker-Hannifin, while a company vice president recently sold 602 shares valued at about $626,000.
• Analysts maintain a generally positive outlook, with an average rating of “Moderate Buy” and an average price target of $1,146.35. The company also reported quarterly EPS and revenue above estimates and pays an annualized dividend of $8.00 per share.

Tower View Wealth Management LLC lifted its stake in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 31.2% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,111 shares of the industrial products company's stock after acquiring an additional 1,692 shares during the period. Parker-Hannifin accounts for about 2.9% of Tower View Wealth Management LLC's investment portfolio, making the stock its 11th largest position. Tower View Wealth Management LLC's holdings in Parker-Hannifin were worth $6,794,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in Parker-Hannifin during the second quarter worth approximately $10,163,362,000. State Street Corp grew its holdings 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 valued at $9,180,037,000 after purchasing an additional 42,548 shares during the last quarter. Bank of America Corp DE acquired a new position in Parker-Hannifin during the second quarter valued at approximately $3,273,507,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in 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 valued at $1,010,341,000 after purchasing an additional 25,167 shares during 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 currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Parker-Hannifin

In other news, VP Berend Bracht sold 602 shares of the 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 value of $626,362.94. Following the completion of 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.35% of the company's stock.

Analysts Set New Price Targets

PH has been the subject of a number of analyst reports. TD Cowen boosted their price objective on shares of Parker-Hannifin from $850.00 to $950.00 and gave the stock a "hold" rating in a research note on Wednesday, October 14th. Wall Street Zen raised shares of Parker-Hannifin from a "hold" rating to a "buy" rating in a report on Saturday. BNP Paribas Exane raised their target price on shares of Parker-Hannifin from $1,220.00 to $1,270.00 and gave the company an "outperform" rating in a research note on Friday, September 18th. Argus raised their target price on shares of Parker-Hannifin from $1,030.00 to $1,200.00 and gave the company a "buy" rating in a research note on Monday, August 10th. Finally, Evercore lifted their target price on shares of Parker-Hannifin from $1,064.00 to $1,217.00 and gave the stock an "outperform" rating in a report on Tuesday, August 11th. Eighteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $1,146.35.

Parker-Hannifin Price Performance

NYSE PH opened at $880.03 on Monday. The stock has a 50-day simple moving average of $966.89 and a 200 day simple moving average of $951.31. Parker-Hannifin Corporation has a twelve month low of $755.10 and a twelve month high of $1,099.94. The stock has a market capitalization of $110.98 billion, a PE ratio of 30.89, a P/E/G ratio of 2.45 and a beta of 1.12. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.74 and a current ratio of 1.26.

Parker-Hannifin (NYSE:PH - Get Free Report) last released 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. The firm had revenue of $5.75 billion for the quarter, compared to analyst estimates of $5.57 billion. Parker-Hannifin had a return on equity of 28.48% and a net margin of 16.97%. The company's revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the firm posted $7.69 EPS. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. Research analysts anticipate that Parker-Hannifin Corporation will post 35.72 EPS for the current year.

Parker-Hannifin Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 11th. Stockholders of record on Monday, August 31st were issued a dividend of $2.00 per share. The ex-dividend date was Monday, August 31st. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.9%. Parker-Hannifin's payout ratio is 28.08%.

Parker-Hannifin Company 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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