Waverly Advisors LLC Has $4.23 Million Holdings in Parker-Hannifin Corporation $PH

Key Points

• Waverly Advisors increased its Parker-Hannifin holdings by 45.7% in the second quarter, owning 4,327 shares valued at approximately $4.23 million. Institutional investors collectively hold 82.44% of the company’s stock.
• Parker-Hannifin reported quarterly earnings of $9.27 per share, surpassing estimates by $0.96, while revenue rose 9.8% year over year to $5.75 billion.
• Analysts remain broadly bullish, with 17 Buy ratings and a consensus price target of $1,114.55; the company also pays a quarterly dividend of $2 per share, yielding about 0.8%.

Waverly Advisors LLC lifted its holdings in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 45.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,327 shares of the industrial products company's stock after purchasing an additional 1,357 shares during the quarter. Waverly Advisors LLC's holdings in Parker-Hannifin were worth $4,232,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Texas Capital Bancshares Inc TX bought a new stake in Parker-Hannifin during the 3rd quarter worth about $25,000. Archer Investment Corp acquired a new stake in shares of Parker-Hannifin in the second quarter valued at about $28,000. HFM Investment Advisors LLC increased its position in shares of Parker-Hannifin by 1,000.0% in the fourth quarter. HFM Investment Advisors LLC now owns 33 shares of the industrial products company's stock valued at $29,000 after acquiring an additional 30 shares during the last quarter. Lloyd Advisory Services LLC. bought a new stake in Parker-Hannifin during the fourth quarter worth about $31,000. Finally, NFSG Corp raised its holdings in Parker-Hannifin by 94.4% during the first quarter. NFSG Corp now owns 35 shares of the industrial products company's stock worth $31,000 after acquiring an additional 17 shares in the last quarter. Institutional investors and hedge funds own 82.44% of the company's stock.

Parker-Hannifin Stock Up 1.7%

PH opened at $950.36 on Friday. The stock's fifty day simple moving average is $989.63 and its 200 day simple moving average is $947.48. 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 $119.79 billion, a PE ratio of 33.36, a price-to-earnings-growth ratio of 2.54 and a beta of 1.13. 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 (NYSE:PH - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The industrial products company reported $9.27 EPS for the quarter, topping analysts' consensus estimates of $8.31 by $0.96. The firm had revenue of $5.75 billion during the quarter, compared to analysts' expectations of $5.57 billion. Parker-Hannifin had a net margin of 16.97% and a return on equity of 28.48%. The company's revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the previous year, the business posted $7.69 earnings per share. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. As a group, research analysts expect that Parker-Hannifin Corporation will post 35 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 11th. Stockholders of record on Monday, August 31st were issued a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Monday, August 31st. Parker-Hannifin's payout ratio is currently 28.08%.

Insider Activity

In other news, VP Berend Bracht sold 602 shares of the company's stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $1,040.47, for a total value of $626,362.94. Following the transaction, the vice president owned 4,399 shares of the company's stock, valued at approximately $4,577,027.53. This represents a 12.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.32% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

PH has been the subject of a number of analyst reports. Truist Financial raised their price target on 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. Stifel Nicolaus set a $1,075.00 price objective on Parker-Hannifin in a report on Friday, August 7th. BNP Paribas Exane reissued an "outperform" rating and issued a $1,220.00 target price (up from $1,090.00) on shares of Parker-Hannifin in a research note on Friday, August 7th. UBS Group boosted their target price on shares of Parker-Hannifin from $1,092.00 to $1,250.00 and gave the stock a "buy" rating in a report on Friday, August 7th. Finally, Susquehanna increased their price target 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. Seventeen equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $1,114.55.

About Parker-Hannifin

Parker-Hannifin Corporation NYSE: PH is a diversified manufacturer of motion and control technologies. The company develops and produces systems and components that manage the movement and flow of liquids, gases and other materials for industrial, mobile and aerospace applications.

Its products include hydraulic and pneumatic systems, fluid connectors, filtration and process-control equipment, electromechanical technologies, seals, thermal-management solutions and aerospace systems. Parker-Hannifin serves manufacturers and operators in markets such as factory automation, transportation, energy, construction, life sciences and aviation.

Founded in 1917, Parker-Hannifin is headquartered in Cleveland, Ohio, and serves customers through manufacturing, distribution and sales operations across North America, Europe, Asia and other international markets.

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