Raymond James Financial Inc. decreased its stake in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 0.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 275,059 shares of the industrial products company's stock after selling 1,247 shares during the period. Raymond James Financial Inc. owned 0.22% of Parker-Hannifin worth $167,194,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of PH. GAMMA Investing LLC grew its holdings in Parker-Hannifin by 66,111.8% during the first quarter. GAMMA Investing LLC now owns 1,735,412 shares of the industrial products company's stock worth $1,054,870,000 after purchasing an additional 1,732,791 shares during the period. Nuveen LLC bought a new position in Parker-Hannifin during the first quarter worth about $933,089,000. Royal Bank of Canada grew its holdings in Parker-Hannifin by 99.8% during the fourth quarter. Royal Bank of Canada now owns 2,277,001 shares of the industrial products company's stock worth $1,448,241,000 after purchasing an additional 1,137,564 shares during the period. Capital World Investors bought a new position in Parker-Hannifin during the fourth quarter worth about $418,174,000. Finally, OMERS ADMINISTRATION Corp grew its holdings in Parker-Hannifin by 6,912.4% during the fourth quarter. OMERS ADMINISTRATION Corp now owns 312,472 shares of the industrial products company's stock worth $198,742,000 after purchasing an additional 308,016 shares during the period. Institutional investors own 82.44% of the company's stock.
Analysts Set New Price Targets
A number of equities research analysts have recently issued reports on the company. Wells Fargo & Company boosted their price objective on Parker-Hannifin from $770.00 to $800.00 and gave the stock an "overweight" rating in a report on Friday, August 8th. Evercore ISI restated an "outperform" rating on shares of Parker-Hannifin in a report on Tuesday. Stifel Nicolaus boosted their price objective on Parker-Hannifin from $717.00 to $726.00 and gave the stock a "hold" rating in a report on Friday, August 8th. KeyCorp boosted their price objective on Parker-Hannifin from $790.00 to $810.00 and gave the stock an "overweight" rating in a report on Friday, August 8th. Finally, Citigroup restated a "buy" rating and set a $831.00 price objective (up previously from $709.00) on shares of Parker-Hannifin in a report on Monday, July 14th. Fourteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Parker-Hannifin has a consensus rating of "Moderate Buy" and a consensus target price of $768.71.
View Our Latest Research Report on PH
Insider Buying and Selling at Parker-Hannifin
In other Parker-Hannifin news, VP Matthew A. Jacobson sold 575 shares of the business's stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $733.06, for a total transaction of $421,509.50. Following the completion of the transaction, the vice president directly owned 1,000 shares in the company, valued at $733,060. The trade was a 36.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Angela R. Ives sold 810 shares of the business's stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $727.36, for a total transaction of $589,161.60. Following the transaction, the vice president owned 2,798 shares of the company's stock, valued at approximately $2,035,153.28. This represents a 22.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 9,414 shares of company stock valued at $6,883,931. 0.39% of the stock is currently owned by insiders.
Parker-Hannifin Price Performance
Shares of NYSE PH traded up $19.3280 during midday trading on Friday, reaching $752.3780. The company's stock had a trading volume of 391,623 shares, compared to its average volume of 750,360. Parker-Hannifin Corporation has a fifty-two week low of $488.45 and a fifty-two week high of $763.99. The company has a market cap of $96.14 billion, a P/E ratio of 27.74, a P/E/G ratio of 3.08 and a beta of 1.37. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.71 and a current ratio of 1.19. The business's 50 day moving average price is $711.07 and its two-hundred day moving average price is $660.22.
Parker-Hannifin (NYSE:PH - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The industrial products company reported $7.69 EPS for the quarter, beating the consensus estimate of $7.08 by $0.61. Parker-Hannifin had a net margin of 17.79% and a return on equity of 26.80%. The business had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.10 billion. During the same period in the previous year, the business earned $6.77 earnings per share. The company's revenue was up 1.1% on a year-over-year basis. 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 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 12th. Shareholders of record on Tuesday, September 2nd will be given a dividend of $1.80 per share. This represents a $7.20 annualized dividend and a yield of 1.0%. Parker-Hannifin's dividend payout ratio is currently 26.55%.
About Parker-Hannifin
(
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
Before you consider Parker-Hannifin, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Parker-Hannifin wasn't on the list.
While Parker-Hannifin currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
MarketBeat All Access