Parker-Hannifin Corporation $PH Shares Purchased by QRG Capital Management Inc.

Key Points

• QRG Capital Management Inc. increased its stake in Parker-Hannifin Corporation by 272.5% during the 2nd quarter, owning 38,622 shares valued at $26.98 million.
• Recent analyst ratings for Parker-Hannifin have shown a mix, with Deutsche Bank lowering its rating to "hold," while Citigroup, Raymond James, and Wells Fargo have set price targets ranging from $800 to $845, indicating a bullish outlook.
• The company reported a quarterly earnings per share of $7.69, surpassing expectations, with a revenue of $5.24 billion, and announced a dividend of $1.80 per share.

QRG Capital Management Inc. increased its stake in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 272.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,622 shares of the industrial products company's stock after acquiring an additional 28,255 shares during the quarter. QRG Capital Management Inc.'s holdings in Parker-Hannifin were worth $26,976,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wealth Preservation Advisors LLC acquired a new stake in Parker-Hannifin during the 1st quarter worth $27,000. Saudi Central Bank acquired a new stake in Parker-Hannifin during the 1st quarter worth $31,000. Olde Wealth Management LLC acquired a new stake in Parker-Hannifin during the 1st quarter worth $35,000. Chilton Capital Management LLC raised its stake in Parker-Hannifin by 1,500.0% during the 1st quarter. Chilton Capital Management LLC now owns 64 shares of the industrial products company's stock worth $39,000 after acquiring an additional 60 shares in the last quarter. Finally, Accent Capital Management LLC acquired a new position in Parker-Hannifin in the first quarter valued at $41,000. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have commented on PH. Deutsche Bank Aktiengesellschaft lowered shares of Parker-Hannifin from a "buy" rating to a "hold" rating and set a $809.00 price objective on the stock. in a research note on Thursday, September 4th. Citigroup restated a "buy" rating and issued a $831.00 price objective (up from $709.00) on shares of Parker-Hannifin in a research note on Monday, July 14th. Raymond James Financial lifted their price objective on shares of Parker-Hannifin from $735.00 to $845.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. Wells Fargo & Company lifted their price objective on shares of Parker-Hannifin from $770.00 to $800.00 and gave the company an "overweight" rating in a research note on Friday, August 8th. Finally, Morgan Stanley lifted their price objective on shares of Parker-Hannifin from $700.00 to $725.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 9th. Fourteen investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Parker-Hannifin has an average rating of "Moderate Buy" and an average target price of $771.44.

Insider Activity

In related news, EVP Joseph R. Leonti sold 4,625 shares of the business's stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $750.84, for a total transaction of $3,472,635.00. Following the sale, the executive vice president owned 13,878 shares of the company's stock, valued at approximately $10,420,157.52. The trade was a 25.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Angela R. Ives sold 810 shares of the business's stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $727.36, for a total transaction of $589,161.60. Following the sale, the vice president directly owned 2,798 shares in the company, valued at approximately $2,035,153.28. This represents a 22.45% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 14,039 shares of company stock valued at $10,356,566 in the last quarter. Insiders own 0.32% of the company's stock.

Parker-Hannifin Stock Up 0.7%

Shares of NYSE:PH opened at $763.72 on Friday. The company has a market cap of $96.64 billion, a price-to-earnings ratio of 28.16, a PEG ratio of 3.14 and a beta of 1.35. The firm's 50-day simple moving average is $747.47 and its 200-day simple moving average is $681.34. The company has a quick ratio of 0.71, a current ratio of 1.19 and a debt-to-equity ratio of 0.55. Parker-Hannifin Corporation has a fifty-two week low of $488.45 and a fifty-two week high of $779.77.

Parker-Hannifin (NYSE:PH - Get Free Report) last issued its earnings results on Thursday, August 7th. The industrial products company reported $7.69 earnings per share for the quarter, beating the consensus estimate of $7.08 by $0.61. The business had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.10 billion. Parker-Hannifin had a net margin of 17.79% and a return on equity of 26.80%. The business's quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $6.77 earnings per share. Parker-Hannifin has set its FY 2026 guidance at 28.400-29.400 EPS. As a group, equities research analysts predict that Parker-Hannifin Corporation will post 26.71 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 12th. Investors of record on Tuesday, September 2nd were issued a dividend of $1.80 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $7.20 dividend on an annualized basis and a yield of 0.9%. Parker-Hannifin's payout ratio is currently 26.55%.

Parker-Hannifin Company Profile

Parker-Hannifin Corporation manufactures and sells motion and control technologies and systems for various mobile, industrial, and aerospace markets worldwide. The company operates through two segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial segment offers sealing, shielding, thermal products and systems, adhesives, coatings, and noise vibration and harshness solutions; filters, systems, and diagnostics solutions to ensure purity and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors used in fluid and gas handling; and hydraulic, pneumatic, and electromechanical components and systems for builders and users of mobile and industrial machinery and equipment.

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