Parker-Hannifin Corporation $PH Shares Purchased by Payden & Rygel

Payden & Rygel grew its position in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 93.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 13,280 shares of the industrial products company's stock after purchasing an additional 6,400 shares during the quarter. Payden & Rygel's holdings in Parker-Hannifin were worth $12,688,000 as of its most recent filing with the SEC.

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

Analyst Upgrades and Downgrades

Several equities analysts have commented on PH shares. Argus increased their price target on Parker-Hannifin from $1,030.00 to $1,200.00 and gave the company a "buy" rating in a report on Monday, August 10th. JPMorgan Chase & Co. lowered their target price on shares of Parker-Hannifin from $1,140.00 to $1,131.00 and set an "overweight" rating on the stock in a research note on Friday, October 9th. KeyCorp lifted their price target 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. Susquehanna lifted their target price on shares of Parker-Hannifin from $1,100.00 to $1,250.00 and gave the company a "positive" rating in a research note on Friday, August 7th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Parker-Hannifin from $998.00 to $1,023.00 and gave the stock a "hold" rating in a report on Wednesday, September 30th. Eighteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $1,146.35.

Parker-Hannifin Price Performance

Shares of PH opened at $898.73 on Friday. The stock has a market cap of $113.34 billion, a P/E ratio of 28.74, a price-to-earnings-growth ratio of 2.59 and a beta of 1.12. The stock's 50-day moving average price is $956.18 and its two-hundred day moving average price is $949.73. The company has a current ratio of 1.26, a quick ratio of 0.74 and a debt-to-equity ratio of 0.44. Parker-Hannifin Corporation has a 1 year low of $755.10 and a 1 year high of $1,099.94.

Parker-Hannifin (NYSE:PH - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The industrial products company reported $9.27 EPS for the quarter, topping analysts' consensus estimates of $8.31 by $0.96. Parker-Hannifin had a return on equity of 28.48% and a net margin of 16.97%. The company had revenue of $5.75 billion for the quarter, compared to analyst estimates of $5.57 billion. During the same quarter last year, the firm posted $7.69 earnings per share. Parker-Hannifin's revenue was up 9.8% compared to the same quarter last year. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. On average, equities analysts predict that Parker-Hannifin Corporation will post 35.72 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 4th. Shareholders of record on Friday, November 13th will be paid a $2.00 dividend. The ex-dividend date of this dividend is Friday, November 13th. This represents a $8.00 dividend on an annualized basis and a yield of 0.9%. Parker-Hannifin's payout ratio is presently 28.08%.

Insiders Place Their Bets

In other news, VP Berend Bracht sold 602 shares of the company'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 completion of the transaction, the vice president owned 4,399 shares in the company, valued at $4,577,027.53. This represents a 12.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.35% of the company's stock.

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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