PDT Partners LLC Acquires 8,300 Shares of Parker-Hannifin Corporation $PH

Key Points

• PDT Partners nearly doubled its Parker-Hannifin stake in the second quarter, purchasing 8,300 additional shares to own 17,120 shares valued at approximately $16.7 million.
• Analyst sentiment remains positive, with 17 Buy ratings and four Holds, producing a “Moderate Buy” consensus and an average price target of $1,100.
• Parker-Hannifin exceeded quarterly expectations with $9.27 in EPS and $5.75 billion in revenue, while announcing a $2 quarterly dividend, or $8 annually, yielding about 0.8%.

PDT Partners LLC raised its holdings in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 94.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,120 shares of the industrial products company's stock after buying an additional 8,300 shares during the period. Parker-Hannifin comprises approximately 0.9% of PDT Partners LLC's portfolio, making the stock its 13th largest position. PDT Partners LLC's holdings in Parker-Hannifin were worth $16,745,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of PH. E Fund Management Co. Ltd. grew its stake in shares of Parker-Hannifin by 2.1% in the second quarter. E Fund Management Co. Ltd. now owns 477 shares of the industrial products company's stock worth $467,000 after purchasing an additional 10 shares during the last quarter. Optas LLC raised its position in Parker-Hannifin by 3.1% during the 1st quarter. Optas LLC now owns 370 shares of the industrial products company's stock valued at $331,000 after purchasing an additional 11 shares during the last quarter. Moneta Group Investment Advisors LLC raised its position in Parker-Hannifin by 1.8% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 614 shares of the industrial products company's stock valued at $540,000 after purchasing an additional 11 shares during the last quarter. Inspire Advisors LLC lifted its holdings in Parker-Hannifin by 1.2% in the 4th quarter. Inspire Advisors LLC now owns 917 shares of the industrial products company's stock worth $807,000 after buying an additional 11 shares during the period. Finally, RFG Advisory LLC grew its position in shares of Parker-Hannifin by 0.3% in the 1st quarter. RFG Advisory LLC now owns 3,740 shares of the industrial products company's stock worth $3,348,000 after buying an additional 12 shares during the last quarter. 82.44% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on PH. Stifel Nicolaus set a $1,075.00 price target on shares of Parker-Hannifin in a report on Friday, August 7th. UBS Group upped their price objective on shares of Parker-Hannifin from $1,092.00 to $1,250.00 and gave the stock a "buy" rating in a report on Friday, August 7th. BNP Paribas Exane reaffirmed an "outperform" rating and issued a $1,220.00 target price (up from $1,090.00) on shares of Parker-Hannifin in a research report on Friday, August 7th. JPMorgan Chase & Co. cut their target price on shares of Parker-Hannifin from $1,100.00 to $1,060.00 and set an "overweight" rating on the stock in a research note on Thursday, May 7th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Parker-Hannifin in a research report on Friday, July 17th. Seventeen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Parker-Hannifin currently has an average rating of "Moderate Buy" and an average price target of $1,100.00.

Parker-Hannifin Stock Performance

Shares of PH stock opened at $1,015.36 on Wednesday. The company's fifty day moving average price is $987.88 and its 200-day moving average price is $949.41. The stock has a market cap of $127.99 billion, a PE ratio of 35.64, a price-to-earnings-growth ratio of 2.64 and a beta of 1.12. 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 12 month low of $715.37 and a 12 month high of $1,099.94.

Parker-Hannifin (NYSE:PH - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The industrial products company reported $9.27 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $8.31 by $0.96. The company had revenue of $5.75 billion for the quarter, compared to analysts' expectations of $5.57 billion. Parker-Hannifin had a net margin of 16.97% and a return on equity of 28.48%. Parker-Hannifin's revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $7.69 EPS. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. On average, equities analysts expect that Parker-Hannifin Corporation will post 34.93 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

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 issued a $2.00 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $8.00 annualized dividend and a dividend yield of 0.8%. Parker-Hannifin's payout ratio is presently 28.08%.

About Parker-Hannifin

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.

Want to see what other hedge funds are holding PH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Parker-Hannifin Corporation (NYSE:PH - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source