The Manufacturers Life Insurance Company trimmed its position in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 4.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 83,214 shares of the industrial products company's stock after selling 4,025 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.07% of Parker-Hannifin worth $81,393,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently modified their holdings of the company. E Fund Management Co. Ltd. lifted its stake in Parker-Hannifin by 2.1% during the 2nd quarter. E Fund Management Co. Ltd. now owns 477 shares of the industrial products company's stock valued at $467,000 after acquiring an additional 10 shares during the period. Optas LLC increased its stake in shares of Parker-Hannifin by 3.1% in the first quarter. Optas LLC now owns 370 shares of the industrial products company's stock worth $331,000 after acquiring an additional 11 shares during the period. Moneta Group Investment Advisors LLC increased its stake in shares of Parker-Hannifin by 1.8% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 614 shares of the industrial products company's stock worth $540,000 after acquiring an additional 11 shares during the period. Inspire Advisors LLC raised its holdings in shares of Parker-Hannifin by 1.2% during the fourth quarter. Inspire Advisors LLC now owns 917 shares of the industrial products company's stock worth $807,000 after purchasing an additional 11 shares during the last quarter. Finally, RFG Advisory LLC raised its holdings in shares of Parker-Hannifin by 0.3% during the first quarter. RFG Advisory LLC now owns 3,740 shares of the industrial products company's stock worth $3,348,000 after purchasing an additional 12 shares during the last quarter. Institutional investors and hedge funds own 82.44% of the company's stock.
Analyst Ratings Changes
Several research firms have commented on PH. KeyCorp upped 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. Citigroup boosted their price objective on Parker-Hannifin from $1,141.00 to $1,232.00 and gave the company a "buy" rating in a report on Friday, August 7th. Sanford C. Bernstein upped their target price on Parker-Hannifin from $1,037.00 to $1,218.00 and gave the stock an "outperform" rating in a research note on Friday, August 14th. BMO Capital Markets reaffirmed an "outperform" rating and set a $1,214.00 target price on shares of Parker-Hannifin in a report on Friday, August 7th. Finally, Stifel Nicolaus set a $1,075.00 price target on Parker-Hannifin in a research report on Friday, August 7th. Seventeen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $1,100.00.
Get Our Latest Research Report on Parker-Hannifin
Parker-Hannifin Trading Up 0.1%
Shares of Parker-Hannifin stock opened at $1,015.36 on Wednesday. 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 twelve month low of $715.37 and a twelve month high of $1,099.94. The firm has a market capitalization of $127.99 billion, a PE ratio of 35.64, a P/E/G ratio of 2.64 and a beta of 1.12. The firm's 50-day moving average price is $987.88 and its 200 day moving average price is $949.41.
Parker-Hannifin (NYSE:PH - Get Free Report) last posted its quarterly earnings data 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. 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 during the quarter, compared to analyst estimates of $5.57 billion. During the same period in the previous year, the business earned $7.69 EPS. Parker-Hannifin's quarterly revenue was up 9.8% on a year-over-year basis. 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 34.93 EPS for the current fiscal year.
Parker-Hannifin Announces Dividend
The company also recently disclosed 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 of this dividend is Monday, August 31st. Parker-Hannifin's dividend payout ratio is currently 28.08%.
About Parker-Hannifin
(
Free Report)
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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