Parker-Hannifin Corporation $PH Shares Newly Purchased by Iowa State Bank

Key Points

• Iowa State Bank purchased 1,335 Parker-Hannifin shares during the third quarter, valued at approximately $1.275 million. Institutional investors and hedge funds collectively own 82.44% of the company.
• Analyst sentiment remains positive, with 16 Buy ratings and three Holds; Parker-Hannifin has a consensus “Moderate Buy” rating and an average price target of $1,119.55.
• Parker-Hannifin reported quarterly EPS of $9.27, exceeding estimates by $0.96, while revenue rose 9.8% year over year to $5.75 billion. The company also declared a quarterly dividend of $2.00 per share, equivalent to an annualized yield of about 0.8%.

Iowa State Bank purchased a new stake in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 1,335 shares of the industrial products company's stock, valued at approximately $1,275,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Proficio Capital Partners LLC increased its position in Parker-Hannifin by 234.0% in the 2nd quarter. Proficio Capital Partners LLC now owns 1,954 shares of the industrial products company's stock valued at $1,911,000 after acquiring an additional 1,369 shares during the period. BNP Paribas raised its position in shares of Parker-Hannifin by 4.1% during the second quarter. BNP Paribas now owns 54,208 shares of the industrial products company's stock worth $52,717,000 after acquiring an additional 2,121 shares during the last quarter. Integrated Wealth Concepts LLC lifted its stake in shares of Parker-Hannifin by 86.1% in the second quarter. Integrated Wealth Concepts LLC now owns 3,503 shares of the industrial products company's stock worth $3,426,000 after acquiring an additional 1,621 shares during the period. Rakuten Investment Management Inc. bought a new position in Parker-Hannifin during the 2nd quarter worth approximately $19,883,000. Finally, PDT Partners LLC lifted its position in shares of Parker-Hannifin by 94.1% in the 2nd quarter. PDT Partners LLC now owns 17,120 shares of the industrial products company's stock worth $16,745,000 after purchasing an additional 8,300 shares during the period. Institutional investors and hedge funds own 82.44% of the company's stock.

Insider Buying and Selling

In other Parker-Hannifin news, VP Berend Bracht sold 602 shares of the firm'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 completion of the sale, the vice president directly owned 4,399 shares of the company's stock, valued at $4,577,027.53. This trade represents a 12.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.35% of the company's stock.

Analyst Upgrades and Downgrades

PH has been the topic of several research analyst reports. UBS Group upped their target price on Parker-Hannifin from $1,092.00 to $1,250.00 and gave the company a "buy" rating in a research report on Friday, August 7th. Citigroup raised their price target on shares of Parker-Hannifin from $1,141.00 to $1,232.00 and gave the stock a "buy" rating in a report on Friday, August 7th. Wells Fargo & Company began coverage on Parker-Hannifin in a research report on Thursday, September 24th. They issued an "equal weight" rating and a $1,050.00 target price for the company. BMO Capital Markets reaffirmed an "outperform" rating and set a $1,214.00 price target on shares of Parker-Hannifin in a research note on Friday, August 7th. Finally, KeyCorp raised their price objective on Parker-Hannifin from $1,100.00 to $1,210.00 and gave the company an "overweight" rating in a research note on Friday, August 7th. Sixteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Parker-Hannifin has a consensus rating of "Moderate Buy" and an average price target of $1,119.55.

Parker-Hannifin Stock Performance

Shares of Parker-Hannifin stock traded up $14.28 during mid-day trading on Tuesday, hitting $989.96. 134,156 shares of the stock were exchanged, compared to its average volume of 691,408. Parker-Hannifin Corporation has a 12 month low of $715.37 and a 12 month high of $1,099.94. The company has a 50-day simple moving average of $987.74 and a 200 day simple moving average of $946.86. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.74 and a current ratio of 1.26. The company has a market capitalization of $124.84 billion, a P/E ratio of 34.76, a P/E/G ratio of 2.98 and a beta of 1.12.

Parker-Hannifin (NYSE:PH - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The industrial products company reported $9.27 EPS for the quarter, beating analysts' consensus estimates of $8.31 by $0.96. The company had revenue of $5.75 billion during the quarter, compared to the consensus estimate of $5.57 billion. Parker-Hannifin had a return on equity of 28.48% and a net margin of 16.97%.Parker-Hannifin's revenue was up 9.8% on a year-over-year basis. During the same period last 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 35.02 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 11th. Shareholders of record on Monday, August 31st were paid a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Monday, August 31st. Parker-Hannifin's payout ratio 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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