UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Boosts Stake in Parker-Hannifin Corporation $PH

Key Points

• UBS Asset Management increased its Parker-Hannifin stake by 2.5% in the second quarter, bringing its holdings to 1.03 million shares worth approximately $1.01 billion. Institutional investors collectively own 82.44% of the company.
• Parker-Hannifin reported strong quarterly results, with EPS of $9.27 and revenue of $5.75 billion, exceeding analyst expectations; revenue rose 9.8% year over year.
• The company declared a quarterly dividend of $2.00 per share, equivalent to an annualized $8.00 payout and a 0.8% yield. Analysts maintain a “Moderate Buy” consensus with a $1,100 price target.

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 2.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,032,942 shares of the industrial products company's stock after buying an additional 25,167 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.82% of Parker-Hannifin worth $1,010,341,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. BlackRock Inc. purchased a new stake in shares of Parker-Hannifin during the 2nd quarter valued at about $10,163,362,000. Bank of America Corp DE purchased a new stake in shares of Parker-Hannifin during the second quarter valued at approximately $3,273,507,000. Norges Bank purchased a new position in shares of Parker-Hannifin in the fourth quarter valued at $1,756,230,000. Deutsche Bank AG acquired a new stake in Parker-Hannifin during the 2nd quarter valued at $987,587,000. Finally, Bank of New York Mellon Corp acquired a new position in Parker-Hannifin in the 2nd quarter worth $712,222,000. Hedge funds and other institutional investors own 82.44% of the company's stock.

Parker-Hannifin Stock Down 1.6%

Shares of Parker-Hannifin stock opened at $995.24 on Friday. The stock has a market capitalization of $125.45 billion, a price-to-earnings ratio of 34.93, a PEG ratio of 2.59 and a beta of 1.12. Parker-Hannifin Corporation has a twelve month low of $715.37 and a twelve month high of $1,099.94. The company has a current ratio of 1.26, a quick ratio of 0.74 and a debt-to-equity ratio of 0.44. The business's 50 day simple moving average is $991.71 and its 200-day simple moving average is $950.48.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted its earnings results on Thursday, August 6th. The industrial products company reported $9.27 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $8.31 by $0.96. Parker-Hannifin had a net margin of 16.97% and a return on equity of 28.48%. The firm had revenue of $5.75 billion during the quarter, compared to analyst estimates of $5.57 billion. During the same period in the previous year, the business posted $7.69 EPS. Parker-Hannifin's 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. Equities research analysts forecast that Parker-Hannifin Corporation will post 34.93 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Monday, August 31st will be issued a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Monday, August 31st. Parker-Hannifin's dividend payout ratio is 28.08%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on PH. JPMorgan Chase & Co. reduced their price target on Parker-Hannifin from $1,100.00 to $1,060.00 and set an "overweight" rating for the company in a report on Thursday, May 7th. Evercore set a $1,064.00 price target on shares of Parker-Hannifin in a research note on Monday, May 11th. Truist Financial increased their price objective on shares of Parker-Hannifin from $1,269.00 to $1,358.00 and gave the company a "buy" rating in a research note on Friday, August 7th. BMO Capital Markets reaffirmed an "outperform" rating and set a $1,214.00 price target on shares of Parker-Hannifin in a research report on Friday, August 7th. Finally, Wall Street Zen cut Parker-Hannifin from a "buy" rating to a "hold" rating in a research note on Saturday, August 22nd. Seventeen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $1,100.00.

Insider Buying and Selling

In related news, VP Berend Bracht sold 602 shares of the stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $1,040.47, for a total value of $626,362.94. Following the completion of the transaction, the vice president owned 4,399 shares in the company, valued at $4,577,027.53. This represents a 12.04% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.32% of the stock is currently owned by corporate insiders.

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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