Teza Capital Management LLC Purchases New Position in Parker-Hannifin Corporation $PH

Key Points

• Teza Capital Management LLC made a new investment of approximately $211,000 in Parker-Hannifin Corporation by acquiring 347 shares in the first quarter.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Parker-Hannifin, with a target price of $770.94, influenced by recent upgrades and downgrades from various firms.
• Parker-Hannifin recently announced a quarterly dividend of $1.80 per share, equating to an annualized dividend of $7.20 and a yield of 1.0%, based on a payout ratio of 26.55%.

Teza Capital Management LLC bought a new position in Parker-Hannifin Corporation (NYSE:PH - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 347 shares of the industrial products company's stock, valued at approximately $211,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PH. GAMMA Investing LLC lifted its position in Parker-Hannifin by 66,111.8% in the 1st quarter. GAMMA Investing LLC now owns 1,735,412 shares of the industrial products company's stock worth $1,054,870,000 after buying an additional 1,732,791 shares in the last quarter. Nuveen LLC acquired a new position in shares of Parker-Hannifin during the 1st quarter worth $933,089,000. Royal Bank of Canada increased its stake in shares of Parker-Hannifin by 99.8% during the 4th 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 last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Parker-Hannifin by 52.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,443,104 shares of the industrial products company's stock worth $1,485,042,000 after purchasing an additional 842,262 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp increased its stake in shares of Parker-Hannifin by 6,912.4% during the 4th 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 last quarter. Hedge funds and other institutional investors own 82.44% of the company's stock.

Insider Activity at Parker-Hannifin

In other news, EVP Joseph R. Leonti sold 4,625 shares of the firm's stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $750.84, for a total transaction of $3,472,635.00. Following the completion of the transaction, the executive vice president directly owned 13,878 shares of the company's stock, valued at approximately $10,420,157.52. This trade represents a 25.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Robert W. Malone sold 2,257 shares of Parker-Hannifin stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $730.66, for a total transaction of $1,649,099.62. Following the transaction, the vice president directly owned 5,866 shares of the company's stock, valued at $4,286,051.56. This represents a 27.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 14,039 shares of company stock worth $10,356,566 in the last ninety days. Company insiders own 0.39% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently commented on PH. KeyCorp increased 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. Wells Fargo & Company increased their price target on shares of Parker-Hannifin from $770.00 to $800.00 and gave the stock an "overweight" rating in a research note on Friday, August 8th. Citigroup reiterated a "buy" rating and issued a $831.00 target price (up from $709.00) on shares of Parker-Hannifin in a research note on Monday, July 14th. Cowen reiterated a "hold" rating on shares of Parker-Hannifin in a research note on Friday, August 29th. Finally, Barclays raised their target price on shares of Parker-Hannifin from $750.00 to $776.00 and gave the company an "overweight" rating in a research note on Friday, August 8th. Thirteen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, Parker-Hannifin currently has a consensus rating of "Moderate Buy" and an average target price of $770.94.

Parker-Hannifin Stock Performance

NYSE PH traded down $9.59 during midday trading on Friday, hitting $760.08. The company had a trading volume of 463,454 shares, compared to its average volume of 581,947. The company has a quick ratio of 0.71, a current ratio of 1.19 and a debt-to-equity ratio of 0.55. The stock has a market cap of $97.12 billion, a price-to-earnings ratio of 28.03, a P/E/G ratio of 3.19 and a beta of 1.35. The firm has a fifty day simple moving average of $736.22 and a two-hundred day simple moving average of $668.41. Parker-Hannifin Corporation has a fifty-two week low of $488.45 and a fifty-two week high of $779.77.

Parker-Hannifin (NYSE:PH - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The industrial products company reported $7.69 EPS for the quarter, topping analysts' consensus estimates of $7.08 by $0.61. The company had revenue of $5.24 billion during 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 firm's revenue for the quarter was up 1.1% compared to the same quarter last year. During the same period last year, the firm earned $6.77 EPS. Parker-Hannifin has set its FY 2026 guidance at 28.400-29.400 EPS. Equities 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 disclosed a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Tuesday, September 2nd were issued a dividend of $1.80 per share. This represents a $7.20 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Tuesday, September 2nd. Parker-Hannifin's dividend payout ratio (DPR) is presently 26.55%.

About Parker-Hannifin

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.