Parker-Hannifin Corporation $PH Shares Bought by Groupe la Francaise

Key Points

• Groupe la Francaise increased its Parker-Hannifin stake by 41.8% in the second quarter, bringing its holdings to 58,616 shares valued at approximately $57.35 million. Institutional investors and hedge funds collectively own 82.44% of the company.
• Parker-Hannifin reported quarterly EPS of $9.27, exceeding the $8.31 consensus estimate, while revenue rose 9.8% year over year to $5.75 billion. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $1,114.55.
• The company declared a quarterly dividend of $2.00 per share, equivalent to an annualized $8.00 payout and a 0.8% yield; the dividend payout ratio is 28.08%.

Groupe la Francaise raised its stake in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 41.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 58,616 shares of the industrial products company's stock after buying an additional 17,275 shares during the period. Groupe la Francaise's holdings in Parker-Hannifin were worth $57,350,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Parker-Hannifin in the second quarter valued at $5,908,000. California State Teachers Retirement System boosted its position in shares of Parker-Hannifin by 96,423.1% in the 2nd quarter. California State Teachers Retirement System now owns 184,153,587 shares of the industrial products company's stock worth $180,124,307,000 after buying an additional 183,962,800 shares in the last quarter. Washington Trust Advisors Inc. grew its stake in Parker-Hannifin by 212.3% in the 2nd quarter. Washington Trust Advisors Inc. now owns 178 shares of the industrial products company's stock valued at $175,000 after acquiring an additional 121 shares during the last quarter. Wedmont Private Capital increased its holdings in Parker-Hannifin by 0.6% during the 2nd quarter. Wedmont Private Capital now owns 3,905 shares of the industrial products company's stock valued at $3,754,000 after acquiring an additional 22 shares in the last quarter. Finally, HB Wealth Management LLC increased its holdings in Parker-Hannifin by 8.8% during the 2nd quarter. HB Wealth Management LLC now owns 10,423 shares of the industrial products company's stock valued at $10,195,000 after acquiring an additional 846 shares in the last quarter. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Parker-Hannifin

In other news, VP Berend Bracht sold 602 shares of the company's stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $1,040.47, for a total transaction of $626,362.94. Following the completion of the transaction, the vice president owned 4,399 shares of the company's stock, valued at $4,577,027.53. This represents a 12.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.32% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PH. BMO Capital Markets reaffirmed an "outperform" rating and issued a $1,214.00 price target on shares of Parker-Hannifin in a report on Friday, August 7th. Wells Fargo & Company cut their price objective on Parker-Hannifin from $980.00 to $950.00 and set an "overweight" rating for the company in a research report on Tuesday, May 26th. Evercore set a $1,064.00 target price on Parker-Hannifin in a research note on Monday, May 11th. UBS Group raised their price target on Parker-Hannifin from $1,092.00 to $1,250.00 and gave the stock a "buy" rating in a research report on Friday, August 7th. Finally, Stifel Nicolaus set a $1,075.00 price target on Parker-Hannifin in a report on Friday, August 7th. Seventeen investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $1,114.55.

Parker-Hannifin Stock Performance

Shares of PH opened at $962.40 on Monday. Parker-Hannifin Corporation has a 1 year low of $715.37 and a 1 year high of $1,099.94. The company's 50 day simple moving average is $991.22 and its 200 day simple moving average is $949.13. The company has a market capitalization of $121.31 billion, a price-to-earnings ratio of 33.78, a PEG ratio of 2.62 and a beta of 1.13. 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 EPS for the quarter, topping the consensus estimate of $8.31 by $0.96. The firm had revenue of $5.75 billion during the quarter, compared to analysts' expectations of $5.57 billion. Parker-Hannifin had a net margin of 16.97% and a return on equity of 28.48%. Parker-Hannifin's revenue for the quarter was up 9.8% on a year-over-year basis. During the same period in the previous year, the company earned $7.69 EPS. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. On average, sell-side analysts predict that Parker-Hannifin Corporation will post 34.96 EPS for the current year.

Parker-Hannifin Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Monday, August 31st will be paid a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 0.8%. The ex-dividend date is Monday, August 31st. Parker-Hannifin's dividend payout ratio is presently 28.08%.

Parker-Hannifin Company Profile

Parker-Hannifin Corporation NYSE: PH is a global manufacturer and provider of motion and control technologies and systems. The company designs, manufactures and services a broad range of engineered components and systems used to control the movement and flow of liquids, gases and hydraulic power. Its product portfolio is applied across demanding environments and includes solutions for industrial manufacturing, aerospace, mobile equipment and other engineered applications.

Parker-Hannifin's product and service offerings span hydraulic and pneumatic components, fittings and fluid connectors, valves, pumps and motors, electromechanical actuators and motion-control systems, filtration and separation products, and seals and sealing systems.

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