Parker-Hannifin Corporation $PH Shares Bought by Aberdeen Group plc

Key Points

• Aberdeen Group increased its Parker-Hannifin stake by 149% in the third quarter, adding 202,418 shares to hold 338,255 shares worth about $323.2 million. Institutional investors and hedge funds collectively own 82.44% of the stock.
• Parker-Hannifin beat quarterly estimates, reporting $8.90 in earnings per share and $5.99 billion in revenue; revenue rose 17.9% year over year. The company set FY 2027 EPS guidance of $36.45–$37.25.
• The company declared a quarterly dividend of $2 per share, equivalent to an annualized $8 dividend and a 0.8% yield. Analysts’ consensus rating is “Moderate Buy,” with an average price target of $1,146.35.

Aberdeen Group plc grew its position in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 149.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 338,255 shares of the industrial products company's stock after acquiring an additional 202,418 shares during the period. Aberdeen Group plc owned 0.27% of Parker-Hannifin worth $323,176,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Polaris Financial Partners acquired a new position in shares of Parker-Hannifin in the 3rd quarter valued at $26,000. Archer Investment Corp bought a new stake in Parker-Hannifin in the 2nd quarter valued at approximately $28,000. Latitude Advisors LLC bought a new stake in Parker-Hannifin in the 3rd quarter valued at approximately $27,000. Team Financial Group LLC acquired a new position in Parker-Hannifin during the 3rd quarter worth approximately $28,000. Finally, Pension & Wealth Management Advisors Inc. acquired a new position in Parker-Hannifin during the 3rd quarter worth approximately $30,000. 82.44% of the stock is owned by institutional investors and hedge funds.

Parker-Hannifin Trading Down 0.4%

Shares of Parker-Hannifin stock opened at $954.29 on Friday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.55 and a current ratio of 0.94. The firm has a 50-day moving average of $945.61 and a 200-day moving average of $949.90. Parker-Hannifin Corporation has a 52-week low of $806.22 and a 52-week high of $1,099.94. The stock has a market cap of $120.33 billion, a PE ratio of 32.77, a PEG ratio of 2.26 and a beta of 1.15.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted its quarterly earnings data on Thursday, November 5th. The industrial products company reported $8.90 earnings per share for the quarter, topping the consensus estimate of $8.21 by $0.69. Parker-Hannifin had a net margin of 16.62% and a return on equity of 28.80%. The business had revenue of $5.99 billion during the quarter, compared to analysts' expectations of $5.81 billion. During the same quarter in the prior year, the business posted $7.22 earnings per share. Parker-Hannifin's revenue was up 17.9% compared to the same quarter last year. Parker-Hannifin has set its FY 2027 guidance at 36.450-37.250 EPS. As a group, sell-side analysts forecast that Parker-Hannifin Corporation will post 37.10 EPS for the current year.

Parker-Hannifin Dividend Announcement

The company also recently declared 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 is Friday, November 13th. This represents a $8.00 annualized dividend and a yield of 0.8%. Parker-Hannifin's dividend payout ratio (DPR) is presently 27.47%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. BMO Capital Markets reiterated an "outperform" rating and set a $1,214.00 price objective (up from $1,068.00) on shares of Parker-Hannifin in a research note on Friday, August 7th. Raymond James Financial raised their target price on shares of Parker-Hannifin from $1,050.00 to $1,250.00 and gave the company an "outperform" rating in a research note on Monday, August 10th. Stifel Nicolaus set a $1,002.00 price target on shares of Parker-Hannifin in a research report on Monday, October 19th. Evercore lifted their price objective on shares of Parker-Hannifin from $1,064.00 to $1,217.00 and gave the company an "outperform" rating in a research report on Tuesday, August 11th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Parker-Hannifin in a report on Thursday, October 15th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,146.35.

Insider Transactions at Parker-Hannifin

In other news, VP Berend Bracht sold 602 shares of the business's stock in a transaction that occurred on 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 transaction, the vice president owned 4,399 shares in the company, valued at approximately $4,577,027.53. The trade was a 12.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.35% of the company's stock.

About Parker-Hannifin

Parker-Hannifin is a global manufacturer of motion and control technologies. Its products include hydraulic and pneumatic systems, fluid connectors, filtration and sealing products, electromechanical components, and systems for aerospace and climate control applications. The company serves customers across industries such as aerospace, manufacturing, transportation, energy, and life sciences. Its operations span markets around the world, with businesses organized around industrial and aerospace products and services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.