Parker-Hannifin Corporation $PH Shares Bought by Banque Pictet & Cie SA

Key Points

• Banque Pictet & Cie SA increased its Parker-Hannifin stake by 130.9% in the third quarter, acquiring 32,786 additional shares for a total holding valued at approximately $55.2 million. Institutional investors collectively own 82.44% of the company.
• Analysts maintain a favorable outlook, with 18 Buy ratings and five Holds, producing a consensus “Moderate Buy” rating and an average price target of $1,149.52.
• Parker-Hannifin exceeded quarterly expectations with earnings of $9.27 per share and revenue of $5.75 billion, while reporting 9.8% year-over-year revenue growth. The company also declared a quarterly dividend of $2.00 per share, equivalent to an annualized yield of about 0.8%.

Banque Pictet & Cie SA raised its stake in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 130.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 57,826 shares of the industrial products company's stock after acquiring an additional 32,786 shares during the quarter. Banque Pictet & Cie SA's holdings in Parker-Hannifin were worth $55,248,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. BlackRock Inc. purchased a new stake in shares of Parker-Hannifin during the 2nd quarter valued at $10,163,362,000. Bank of America Corp DE purchased a new position in Parker-Hannifin during the 2nd quarter worth $3,273,507,000. Deutsche Bank AG acquired a new position in Parker-Hannifin during the 2nd quarter valued at about $987,587,000. Bank of New York Mellon Corp acquired a new position in Parker-Hannifin during the 2nd quarter valued at about $712,222,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Parker-Hannifin in the second quarter valued at about $305,628,000. Institutional investors own 82.44% of the company's stock.

Wall Street Analysts Forecast Growth

PH has been the topic of several research analyst reports. The Goldman Sachs Group boosted their target price on shares of Parker-Hannifin from $1,071.00 to $1,165.00 and gave the stock a "buy" rating in a research report on Friday, August 7th. TD Cowen raised their price target on shares of Parker-Hannifin from $850.00 to $950.00 and gave the stock a "hold" rating in a report on Wednesday. Raymond James Financial lifted their price objective on shares of Parker-Hannifin from $1,050.00 to $1,250.00 and gave the stock an "outperform" rating in a research note on Monday, August 10th. BNP Paribas Exane lifted their price objective on shares of Parker-Hannifin from $1,220.00 to $1,270.00 and gave the stock an "outperform" rating in a research note on Friday, September 18th. Finally, KeyCorp boosted their price objective on shares of Parker-Hannifin from $1,100.00 to $1,210.00 and gave the company an "overweight" rating in a report on Friday, August 7th. Eighteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $1,149.52.

Insider Buying and Selling at Parker-Hannifin

In related news, VP Berend Bracht sold 602 shares of the business's stock in a transaction 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 sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.35% of the company's stock.

Parker-Hannifin Price Performance

Parker-Hannifin stock opened at $963.35 on Friday. The stock has a market cap of $121.49 billion, a P/E ratio of 33.81, a PEG ratio of 2.69 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. The company has a 50-day moving average price of $980.15 and a 200 day moving average price of $949.99. Parker-Hannifin Corporation has a 12-month low of $722.12 and a 12-month high of $1,099.94.

Parker-Hannifin (NYSE:PH - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The industrial products company reported $9.27 earnings per share for the quarter, topping the consensus estimate of $8.31 by $0.96. The company had revenue of $5.75 billion during 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 firm's revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the prior year, the business posted $7.69 earnings per share. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. Sell-side analysts anticipate that Parker-Hannifin Corporation will post 35.56 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 11th. Investors of record on Monday, August 31st were given a dividend of $2.00 per share. The ex-dividend date of this dividend was Monday, August 31st. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.8%. Parker-Hannifin's dividend payout ratio (DPR) is presently 28.08%.

Parker-Hannifin Profile

Parker-Hannifin Corporation is a diversified manufacturer of motion and control technologies. The company develops and produces components and systems that manage the movement and control of liquids, gases and mechanical force across industrial, mobile and aerospace applications.

Its product portfolio includes hydraulic and pneumatic systems, electromechanical technologies, filtration and fluid-management equipment, seals and shielding products, connectors, pumps, valves, sensors, thermal-management solutions and related engineered systems.

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