Port Capital LLC Lowers Stock Position in Parker-Hannifin Corporation $PH

Key Points

• Port Capital LLC reduced its Parker-Hannifin stake by 2% in the second quarter, selling 1,716 shares and retaining 82,922 shares valued at approximately $81.1 million. Institutional investors collectively own 82.44% of the company.
• Parker-Hannifin reported a strong quarter, with EPS of $9.27 beating estimates by $0.96 and revenue rising 9.8% year over year to $5.75 billion. The company issued fiscal 2027 EPS guidance of $34.25 to $35.25.
• The company declared a quarterly dividend of $2.00 per share, equivalent to $8.00 annually and a 0.8% yield. Analysts maintain a “Moderate Buy” consensus, with an average price target of $1,100.

Port Capital LLC cut its stake in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 2.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 82,922 shares of the industrial products company's stock after selling 1,716 shares during the period. Parker-Hannifin makes up 3.3% of Port Capital LLC's holdings, making the stock its 11th biggest holding. Port Capital LLC owned approximately 0.07% of Parker-Hannifin worth $81,108,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in PH. Fideuram Asset Management Ireland dac acquired a new stake in Parker-Hannifin in the fourth quarter valued at $1,253,000. Truist Financial Corp boosted its position in shares of Parker-Hannifin by 2.7% during the 4th quarter. Truist Financial Corp now owns 174,852 shares of the industrial products company's stock worth $153,687,000 after acquiring an additional 4,673 shares in the last quarter. Shepherd Street Advisors LLC purchased a new position in shares of Parker-Hannifin in the 4th quarter valued at about $1,736,000. Jefferies Financial Group Inc. purchased a new position in shares of Parker-Hannifin in the 4th quarter valued at about $11,434,000. Finally, Horizon Investments LLC raised its position in shares of Parker-Hannifin by 78.8% during the 4th quarter. Horizon Investments LLC now owns 8,829 shares of the industrial products company's stock worth $7,760,000 after acquiring an additional 3,892 shares in the last quarter. 82.44% of the stock is owned by hedge funds and other institutional investors.

Parker-Hannifin Trading Up 2.4%

PH opened at $1,040.76 on Thursday. The company has a quick ratio of 0.74, a current ratio of 1.26 and a debt-to-equity ratio of 0.44. Parker-Hannifin Corporation has a 52 week low of $715.37 and a 52 week high of $1,099.94. The business's 50 day moving average is $989.76 and its two-hundred day moving average is $949.93. The firm has a market cap of $131.19 billion, a price-to-earnings ratio of 36.53, a price-to-earnings-growth ratio of 2.65 and a beta of 1.12.

Parker-Hannifin (NYSE:PH - Get Free Report) last announced its earnings results on Thursday, August 6th. The industrial products company reported $9.27 EPS for the quarter, beating analysts' consensus estimates of $8.31 by $0.96. Parker-Hannifin had a net margin of 16.97% and a return on equity of 28.48%. The business had revenue of $5.75 billion for the quarter, compared to analysts' expectations of $5.57 billion. During the same period in the previous year, the company posted $7.69 EPS. The company'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, research analysts predict that Parker-Hannifin Corporation will post 34.93 EPS for the current year.

Parker-Hannifin Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Monday, August 31st will be paid a $2.00 dividend. The ex-dividend date is Monday, August 31st. This represents a $8.00 dividend on an annualized basis and a yield of 0.8%. Parker-Hannifin's payout ratio is currently 28.08%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on PH shares. Wells Fargo & Company lowered their price target on Parker-Hannifin from $980.00 to $950.00 and set an "overweight" rating for the company in a report on Tuesday, May 26th. Truist Financial raised their price objective 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. BNP Paribas Exane restated an "outperform" rating and set a $1,220.00 price objective (up from $1,090.00) on shares of Parker-Hannifin in a research report on Friday, August 7th. Citigroup upped their target price on shares of Parker-Hannifin from $1,141.00 to $1,232.00 and gave the company a "buy" rating in a report on Friday, August 7th. Finally, Wall Street Zen downgraded shares of Parker-Hannifin from a "buy" rating to a "hold" rating in a research report on Saturday, August 22nd. Seventeen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $1,100.00.

Parker-Hannifin Company Profile

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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