Varma Mutual Pension Insurance Co Lowers Stock Holdings in Parker-Hannifin Corporation $PH

Varma Mutual Pension Insurance Co lowered its position in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 18.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 26,575 shares of the industrial products company's stock after selling 5,900 shares during the period. Varma Mutual Pension Insurance Co's holdings in Parker-Hannifin were worth $25,994,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Brighton Jones LLC increased its position in shares of Parker-Hannifin by 5.9% during the 4th quarter. Brighton Jones LLC now owns 1,808 shares of the industrial products company's stock valued at $1,150,000 after purchasing an additional 101 shares during the last quarter. Bison Wealth LLC lifted its position in Parker-Hannifin by 4.5% in the 4th quarter. Bison Wealth LLC now owns 749 shares of the industrial products company's stock worth $476,000 after buying an additional 32 shares during the last quarter. Empowered Funds LLC lifted its position in Parker-Hannifin by 0.5% in the 1st quarter. Empowered Funds LLC now owns 2,894 shares of the industrial products company's stock worth $1,759,000 after buying an additional 15 shares during the last quarter. Acadian Asset Management LLC boosted its stake in Parker-Hannifin by 26.2% in the first quarter. Acadian Asset Management LLC now owns 799 shares of the industrial products company's stock worth $484,000 after buying an additional 166 shares in the last quarter. Finally, Sivia Capital Partners LLC boosted its stake in Parker-Hannifin by 3.6% in the second quarter. Sivia Capital Partners LLC now owns 430 shares of the industrial products company's stock worth $300,000 after buying an additional 15 shares in the last quarter. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on PH. Evercore set a $1,064.00 price target on shares of Parker-Hannifin in a research note on Monday, May 11th. Truist Financial boosted their price objective on shares of Parker-Hannifin from $1,269.00 to $1,358.00 and gave the stock a "buy" rating in a report on Friday, August 7th. JPMorgan Chase & Co. cut their price objective on shares of Parker-Hannifin from $1,100.00 to $1,060.00 and set an "overweight" rating for the company in a research note on Thursday, May 7th. 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. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Parker-Hannifin in a research report on Friday, July 17th. Seventeen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $1,100.00.

Parker-Hannifin Price Performance

PH opened at $1,002.90 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.26 and a quick ratio of 0.74. The stock's 50 day simple moving average is $984.42 and its 200 day simple moving average is $948.75. The firm has a market cap of $126.46 billion, a price-to-earnings ratio of 35.20, a PEG ratio of 2.61 and a beta of 1.12. Parker-Hannifin Corporation has a 1 year low of $715.37 and a 1 year high of $1,099.94.

Parker-Hannifin (NYSE:PH - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The industrial products company reported $9.27 earnings per share for the quarter, beating the consensus estimate of $8.31 by $0.96. The firm had revenue of $5.75 billion during the quarter, compared to the consensus estimate of $5.57 billion. Parker-Hannifin had a return on equity of 28.48% and a net margin of 16.97%.The business's revenue was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $7.69 earnings per share. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. As a group, 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 declared a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Monday, August 31st will be issued a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Monday, August 31st. Parker-Hannifin's dividend payout ratio is currently 28.08%.

Parker-Hannifin 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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