Tribune Investment Group LP Buys Shares of 10,000 Parker-Hannifin Corporation $PH

Key Points

• Tribune Investment Group LP invested approximately $6.08 million to acquire a new stake in Parker-Hannifin Corporation, holding about 2.6% of their investment portfolio in the company.
• A significant increase in holdings was seen from other institutional investors, with Community Financial Services Group LLC boosting its stake by 1,338.2%, and Banco Santander S.A. increasing their stake by 70.2% in the first quarter.
• An analyst consensus rating of “Moderate Buy” has been assigned to Parker-Hannifin, with an average target price of $768.71 based on recent reports from various financial analysts.

Tribune Investment Group LP bought a new position in Parker-Hannifin Corporation (NYSE:PH - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 10,000 shares of the industrial products company's stock, valued at approximately $6,078,000. Parker-Hannifin comprises approximately 2.6% of Tribune Investment Group LP's portfolio, making the stock its 19th largest position.

Several other large investors also recently made changes to their positions in PH. GAMMA Investing LLC increased its stake in shares of Parker-Hannifin by 66,111.8% in the first quarter. GAMMA Investing LLC now owns 1,735,412 shares of the industrial products company's stock valued at $1,054,870,000 after purchasing an additional 1,732,791 shares during the period. Nuveen LLC acquired a new stake in shares of Parker-Hannifin in the first quarter valued at approximately $933,089,000. Royal Bank of Canada increased its stake in shares of Parker-Hannifin by 99.8% in the fourth quarter. Royal Bank of Canada now owns 2,277,001 shares of the industrial products company's stock valued at $1,448,241,000 after purchasing an additional 1,137,564 shares during the period. OMERS ADMINISTRATION Corp increased its stake in shares of Parker-Hannifin by 6,912.4% in the fourth quarter. OMERS ADMINISTRATION Corp now owns 312,472 shares of the industrial products company's stock valued at $198,742,000 after purchasing an additional 308,016 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Parker-Hannifin by 44.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 865,970 shares of the industrial products company's stock valued at $550,783,000 after purchasing an additional 265,768 shares during the period. Institutional investors and hedge funds own 82.44% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Citigroup restated a "buy" rating and issued a $831.00 price target (up previously from $709.00) on shares of Parker-Hannifin in a research note on Monday, July 14th. Barclays raised their price objective 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. Raymond James Financial raised their price objective on shares of Parker-Hannifin from $735.00 to $845.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. Wells Fargo & Company raised their price objective on shares of Parker-Hannifin from $770.00 to $800.00 and gave the company an "overweight" rating in a research note on Friday, August 8th. Finally, Evercore ISI reiterated an "outperform" rating on shares of Parker-Hannifin in a research note on Tuesday. Fourteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Parker-Hannifin presently has an average rating of "Moderate Buy" and a consensus price target of $768.71.

Insider Transactions at Parker-Hannifin

In related news, VP Matthew A. Jacobson sold 575 shares of the firm'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 value of $421,509.50. Following the completion of the transaction, the vice president owned 1,000 shares of the company's stock, valued at approximately $733,060. This trade represents a 36.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Thomas C. Gentile sold 1,133 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $729.50, for a total transaction of $826,523.50. Following the completion of the transaction, the vice president directly owned 5,465 shares of the company's stock, valued at $3,986,717.50. This represents a 17.17% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 9,414 shares of company stock worth $6,883,931. 0.39% of the stock is currently owned by insiders.

Parker-Hannifin Price Performance

Parker-Hannifin stock traded up $19.3280 during mid-day trading on Friday, hitting $752.3780. The company's stock had a trading volume of 725,793 shares, compared to its average volume of 767,288. 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 capitalization of $96.14 billion, a P/E ratio of 27.74, a P/E/G ratio of 3.12 and a beta of 1.37. Parker-Hannifin Corporation has a twelve month low of $488.45 and a twelve month high of $763.99. The stock's fifty day moving average price is $713.04 and its two-hundred day moving average price is $660.45.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The industrial products company reported $7.69 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.10 billion. During the same quarter in the previous year, the business posted $6.77 earnings per share. The firm's quarterly revenue was up 1.1% compared to the same quarter last year. Parker-Hannifin has set its FY 2026 guidance at 28.400-29.400 EPS. Research analysts forecast that Parker-Hannifin Corporation will post 26.71 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Tuesday, September 2nd will be paid a $1.80 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $7.20 dividend on an annualized basis and a yield of 1.0%. Parker-Hannifin's dividend payout ratio (DPR) is currently 26.55%.

Parker-Hannifin Company Profile

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.