Transamerica Financial Advisors LLC Purchases New Holdings in Parker-Hannifin Corporation $PH

Key Points

• Transamerica Financial Advisors acquired 4,697 Parker-Hannifin shares worth approximately $4.6 million, while institutional investors collectively own 82.44% of the company.
• Analysts remain broadly bullish, with 17 Buy ratings and four Holds; the consensus rating is “Moderate Buy” with an average price target of $1,100.
• Parker-Hannifin beat quarterly earnings and revenue expectations, reporting $9.27 in EPS and $5.75 billion in revenue, while revenue rose 9.8% year over year. The company also declared a quarterly dividend of $2 per share, equivalent to a 0.8% yield.

Transamerica Financial Advisors LLC acquired a new position in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 4,697 shares of the industrial products company's stock, valued at approximately $4,595,000.

A number of other hedge funds have also recently bought and sold shares of PH. BlackRock Inc. bought a new stake in shares of Parker-Hannifin during the second quarter worth $10,163,362,000. Bank of America Corp DE bought a new position in Parker-Hannifin in the second quarter valued at about $3,273,507,000. Norges Bank bought a new position in Parker-Hannifin in the fourth quarter valued at about $1,756,230,000. Deutsche Bank AG acquired a new stake in Parker-Hannifin in the second quarter worth about $987,587,000. Finally, Bank of New York Mellon Corp bought a new stake in Parker-Hannifin during the 2nd quarter worth about $712,222,000. 82.44% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on PH. Weiss Ratings restated a "buy (b)" rating on shares of Parker-Hannifin in a research report on Friday, July 17th. Wells Fargo & Company lowered their price target on shares of Parker-Hannifin from $980.00 to $950.00 and set an "overweight" rating for the company in a research report on Tuesday, May 26th. UBS Group increased their price objective on shares of Parker-Hannifin from $1,092.00 to $1,250.00 and gave the company a "buy" rating in a report on Friday, August 7th. Susquehanna raised their price objective on shares of Parker-Hannifin from $1,100.00 to $1,250.00 and gave the company a "positive" rating in a research note on Friday, August 7th. Finally, BMO Capital Markets reaffirmed an "outperform" rating and set a $1,214.00 target price on shares of Parker-Hannifin in a report on Friday, August 7th. Seventeen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $1,100.00.

Parker-Hannifin Price Performance

Shares of PH opened at $1,040.76 on Thursday. 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 1 year low of $715.37 and a 1 year high of $1,099.94. The stock has a market cap of $131.19 billion, a P/E ratio of 36.53, a price-to-earnings-growth ratio of 2.65 and a beta of 1.12. The stock's 50-day moving average price is $989.76 and its two-hundred day moving average price is $949.93.

Parker-Hannifin (NYSE:PH - Get Free Report) last announced its quarterly 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. The company had revenue of $5.75 billion during the quarter, compared to analysts' expectations of $5.57 billion. Parker-Hannifin had a return on equity of 28.48% and a net margin of 16.97%.Parker-Hannifin's revenue was up 9.8% on a year-over-year basis. During the same period in the prior 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 predict that Parker-Hannifin Corporation will post 34.93 earnings per share for the current year.

Parker-Hannifin Announces Dividend

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

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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