Rakuten Investment Management Inc. bought a new stake in Parker-Hannifin Corporation (NYSE:PH - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 20,630 shares of the industrial products company's stock, valued at approximately $19,883,000.
Other institutional investors also recently added to or reduced their stakes in the company. Texas Capital Bancshares Inc TX acquired a new stake in shares of Parker-Hannifin in the third quarter worth $25,000. HFM Investment Advisors LLC raised its stake in Parker-Hannifin by 1,000.0% during the 4th quarter. HFM Investment Advisors LLC now owns 33 shares of the industrial products company's stock valued at $29,000 after purchasing an additional 30 shares during the last quarter. Lloyd Advisory Services LLC. acquired a new position in Parker-Hannifin during the 4th quarter valued at $31,000. NFSG Corp boosted its holdings in Parker-Hannifin by 94.4% in the 1st quarter. NFSG Corp now owns 35 shares of the industrial products company's stock valued at $31,000 after purchasing an additional 17 shares during the period. Finally, First Command Advisory Services Inc. grew its position in Parker-Hannifin by 1,133.3% in the 4th quarter. First Command Advisory Services Inc. now owns 37 shares of the industrial products company's stock worth $33,000 after purchasing an additional 34 shares during the last quarter. 82.44% of the stock is owned by institutional investors.
Parker-Hannifin Stock Performance
NYSE:PH opened at $995.24 on Friday. The firm has a market capitalization of $125.45 billion, a PE ratio of 34.93, a price-to-earnings-growth ratio of 2.63 and a beta of 1.12. 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 12-month low of $715.37 and a 12-month high of $1,099.94. The firm has a 50-day moving average price of $991.71 and a 200 day moving average price of $950.48.
Parker-Hannifin (NYSE:PH - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The industrial products company reported $9.27 earnings per share for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $5.57 billion. During the same period in the previous year, the business earned $7.69 earnings per share. 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. Research analysts anticipate that Parker-Hannifin Corporation will post 34.93 earnings per share for the current fiscal year.
Parker-Hannifin Announces Dividend
The business also recently declared 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. The ex-dividend date of this dividend is Monday, August 31st. This represents a $8.00 annualized dividend and a yield of 0.8%. Parker-Hannifin's payout ratio is currently 28.08%.
Insiders Place Their Bets
In other Parker-Hannifin news, VP Berend Bracht sold 602 shares of the company'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 sale, the vice president directly owned 4,399 shares in the company, valued at $4,577,027.53. This represents a 12.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.32% of the stock is owned by company insiders.
Wall Street Analysts Forecast Growth
Several research firms have recently issued reports on PH. Truist Financial boosted 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. Wells Fargo & Company decreased their target price on Parker-Hannifin from $980.00 to $950.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 26th. JPMorgan Chase & Co. lowered their price target on 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. UBS Group upped their price target on Parker-Hannifin from $1,092.00 to $1,250.00 and gave the company a "buy" rating in a report on Friday, August 7th. Finally, Wall Street Zen downgraded Parker-Hannifin from a "buy" rating to a "hold" rating in a research report on Saturday, August 22nd. Seventeen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Parker-Hannifin presently has a consensus rating of "Moderate Buy" and an average target price of $1,100.00.
Get Our Latest Stock Analysis on Parker-Hannifin
Parker-Hannifin Company Profile
(
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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