Parker-Hannifin Corporation $PH Stock: AMF Tjanstepension AB Reduces Holdings

Key Points

• AMF Tjanstepension AB reduced its Parker-Hannifin stake by 22.1% in the third quarter, selling 79,587 shares and retaining 281,058 shares valued at approximately $268.5 million. Institutional investors collectively own 82.44% of the company.
• Analysts remain broadly bullish, with 18 Buy ratings and five Holds, resulting in a “Moderate Buy” consensus and an average price target of $1,146.35.
• Parker-Hannifin reported quarterly EPS of $9.27, beating estimates of $8.31, while revenue rose 9.8% year over year to $5.75 billion. Shares opened at $891.55, down 7.0%.

AMF Tjanstepension AB cut its stake in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 22.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 281,058 shares of the industrial products company's stock after selling 79,587 shares during the quarter. Parker-Hannifin makes up about 1.6% of AMF Tjanstepension AB's portfolio, making the stock its 17th largest position. AMF Tjanstepension AB owned approximately 0.22% of Parker-Hannifin worth $268,528,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Cantor Fitzgerald Investment Advisors L.P. acquired a new stake in Parker-Hannifin in the 3rd quarter valued at $31,515,000. Momentous Wealth Management Inc. raised its holdings in Parker-Hannifin by 1.8% during the third quarter. Momentous Wealth Management Inc. now owns 1,048 shares of the industrial products company's stock worth $1,001,000 after buying an additional 19 shares during the last quarter. Hartford Financial Management Inc. raised its holdings in Parker-Hannifin by 1.8% during the third quarter. Hartford Financial Management Inc. now owns 1,600 shares of the industrial products company's stock worth $1,529,000 after buying an additional 29 shares during the last quarter. Fifth Third Securities Inc. bought a new position in shares of Parker-Hannifin in the third quarter valued at $300,000. Finally, City State Bank lifted its stake in shares of Parker-Hannifin by 20.0% in the third quarter. City State Bank now owns 84 shares of the industrial products company's stock valued at $80,000 after buying an additional 14 shares in the last quarter. 82.44% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

PH has been the subject of a number of analyst reports. Raymond James Financial lifted their price objective on shares of Parker-Hannifin from $1,050.00 to $1,250.00 and gave the company an "outperform" rating in a report on Monday, August 10th. Truist Financial upped their target price on shares of Parker-Hannifin from $1,269.00 to $1,358.00 and gave the stock a "buy" rating in a report on Friday, August 7th. Jefferies Financial Group raised their price target on shares of Parker-Hannifin from $1,100.00 to $1,275.00 in a research report on Friday, August 7th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Parker-Hannifin from $998.00 to $1,023.00 and gave the company a "hold" rating in a research report on Wednesday, September 30th. Finally, BNP Paribas Exane lifted their price target on Parker-Hannifin from $1,220.00 to $1,270.00 and gave the company an "outperform" rating in a research note on Friday, September 18th. Eighteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $1,146.35.

Insider Buying and Selling

In other Parker-Hannifin news, VP Berend Bracht sold 602 shares of the business'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 transaction, the vice president owned 4,399 shares of the company's stock, valued at approximately $4,577,027.53. The trade was a 12.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.35% of the company's stock.

Parker-Hannifin Trading Down 7.0%

Shares of PH stock opened at $891.55 on Friday. 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 $112.43 billion, a price-to-earnings ratio of 29.66, a PEG ratio of 2.67 and a beta of 1.12. Parker-Hannifin Corporation has a 52-week low of $737.70 and a 52-week high of $1,099.94. The company has a 50-day simple moving average of $970.40 and a two-hundred day simple moving average of $951.53.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted 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. Parker-Hannifin had a net margin of 16.97% and a return on equity of 28.48%. The firm had revenue of $5.75 billion for the quarter, compared to analysts' expectations of $5.57 billion. The company's quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter last year, the firm earned $7.69 EPS. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. Research analysts anticipate that Parker-Hannifin Corporation will post 35.72 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 11th. Investors of record on Monday, August 31st were issued a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Monday, August 31st. Parker-Hannifin's dividend payout ratio (DPR) is 28.08%.

About Parker-Hannifin

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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