Concurrent Investment Advisors LLC lifted its stake in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 53.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,558 shares of the industrial products company's stock after acquiring an additional 2,619 shares during the quarter. Concurrent Investment Advisors LLC's holdings in Parker-Hannifin were worth $5,279,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of PH. Wealth Preservation Advisors LLC bought a new stake in shares of Parker-Hannifin during the 1st quarter worth $27,000. Saudi Central Bank purchased a new stake in shares of Parker-Hannifin in the first quarter valued at $31,000. Olde Wealth Management LLC purchased a new stake in shares of Parker-Hannifin in the first quarter valued at $35,000. Chilton Capital Management LLC lifted its holdings in shares of Parker-Hannifin by 1,500.0% in the first quarter. Chilton Capital Management LLC now owns 64 shares of the industrial products company's stock valued at $39,000 after purchasing an additional 60 shares in the last quarter. Finally, Accent Capital Management LLC purchased a new stake in shares of Parker-Hannifin in the first quarter valued at $41,000. 82.44% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
A number of analysts have recently issued reports on the company. Truist Financial increased their target price on Parker-Hannifin from $822.00 to $910.00 and gave the company a "buy" rating in a report on Wednesday. Wall Street Zen upgraded Parker-Hannifin from a "hold" rating to a "buy" rating in a report on Saturday, September 20th. Susquehanna began coverage on Parker-Hannifin in a report on Friday, August 15th. They issued a "positive" rating and a $860.00 target price for the company. KeyCorp upped their price target on shares of Parker-Hannifin from $790.00 to $810.00 and gave the stock an "overweight" rating in a research note on Friday, August 8th. Finally, Barclays upped their price target on shares of Parker-Hannifin from $776.00 to $785.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 1st. Fourteen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, Parker-Hannifin currently has an average rating of "Moderate Buy" and a consensus target price of $786.78.
Check Out Our Latest Stock Analysis on Parker-Hannifin
Insider Activity
In other news, VP Angela R. Ives sold 810 shares of the firm's stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $727.36, for a total value of $589,161.60. Following the sale, the vice president directly owned 2,798 shares of the company's stock, valued at approximately $2,035,153.28. This trade represents a 22.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Thomas C. Gentile sold 1,133 shares of the firm's stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $729.50, for a total value of $826,523.50. Following the completion of the sale, the vice president directly owned 5,465 shares in the company, valued at approximately $3,986,717.50. This represents a 17.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 14,039 shares of company stock valued at $10,356,566. Corporate insiders own 0.32% of the company's stock.
Parker-Hannifin Trading Down 3.0%
Parker-Hannifin stock opened at $716.31 on Monday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.19 and a quick ratio of 0.71. The company has a market capitalization of $90.64 billion, a price-to-earnings ratio of 26.41, a PEG ratio of 2.97 and a beta of 1.35. Parker-Hannifin Corporation has a one year low of $488.45 and a one year high of $779.77. The company's fifty day moving average price is $748.97 and its two-hundred day moving average price is $685.90.
Parker-Hannifin (NYSE:PH - Get Free Report) last posted its earnings results on Thursday, August 7th. The industrial products company reported $7.69 EPS for the quarter, topping the consensus estimate of $7.08 by $0.61. The firm 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% on a year-over-year basis. During the same period in the prior year, the business posted $6.77 earnings per share. Parker-Hannifin has set its FY 2026 guidance at 28.400-29.400 EPS. On average, analysts forecast that Parker-Hannifin Corporation will post 26.71 earnings per share for the current fiscal year.
Parker-Hannifin Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Tuesday, September 2nd were given a dividend of $1.80 per share. This represents a $7.20 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Tuesday, September 2nd. Parker-Hannifin's dividend payout ratio is presently 26.55%.
Parker-Hannifin Profile
(
Free Report)
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.
See Also
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