Parker-Hannifin Corporation $PH Shares Bought by Korea Investment CORP

Korea Investment CORP raised its holdings in Parker-Hannifin Corporation (NYSE:PH) by 18.7% during the second quarter, Holdings Channel.com reports. The firm owned 95,260 shares of the industrial products company’s stock after purchasing an additional 14,974 shares during the period. Korea Investment CORP’s holdings in Parker-Hannifin were worth $93,176,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of PH. EP Wealth Advisors LLC increased its position in shares of Parker-Hannifin by 1.2% during the 2nd quarter. EP Wealth Advisors LLC now owns 11,562 shares of the industrial products company’s stock worth $11,309,000 after purchasing an additional 139 shares during the last quarter. Ieq Capital LLC lifted its position in Parker-Hannifin by 396.1% in the second quarter. Ieq Capital LLC now owns 6,122 shares of the industrial products company’s stock valued at $5,988,000 after buying an additional 4,888 shares during the last quarter. Callan Family Office LLC lifted its position in Parker-Hannifin by 0.9% in the second quarter. Callan Family Office LLC now owns 3,454 shares of the industrial products company’s stock valued at $3,378,000 after buying an additional 32 shares during the last quarter. Keating Financial Advisory Services Inc. boosted its stake in Parker-Hannifin by 4.4% during the second quarter. Keating Financial Advisory Services Inc. now owns 382 shares of the industrial products company’s stock worth $374,000 after buying an additional 16 shares during the period. Finally, OneAscent Investment Solutions LLC boosted its stake in Parker-Hannifin by 37.2% during the second quarter. OneAscent Investment Solutions LLC now owns 476 shares of the industrial products company’s stock worth $466,000 after buying an additional 129 shares during the period. Institutional investors and hedge funds own 82.44% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on PH. KeyCorp boosted their price target on shares of Parker-Hannifin from $1,100.00 to $1,210.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Wall Street Zen cut shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a research report on Saturday. Weiss Ratings reiterated a “buy (b)” rating on shares of Parker-Hannifin in a report on Friday, July 17th. BMO Capital Markets reissued an “outperform” rating and issued a $1,214.00 target price on shares of Parker-Hannifin in a research report on Friday, August 7th. Finally, UBS Group upped their price target on Parker-Hannifin from $1,092.00 to $1,250.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Seventeen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $1,100.00.

Parker-Hannifin Stock Up 0.3%

Parker-Hannifin stock opened at $1,002.90 on Friday. The firm has a market capitalization of $126.46 billion, a P/E ratio of 35.20, a P/E/G ratio of 2.60 and a beta of 1.12. 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 twelve month low of $715.37 and a twelve month high of $1,099.94. The stock’s fifty day simple moving average is $984.42 and its 200-day simple moving average is $948.75.

Parker-Hannifin (NYSE:PH) last released 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 return on equity of 28.48% and a net margin of 16.97%.The firm had revenue of $5.75 billion during the quarter, compared to analyst estimates of $5.57 billion. During the same period last year, the business posted $7.69 earnings per share. Parker-Hannifin’s revenue was up 9.8% compared to the same quarter last year. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. As a group, equities analysts expect that Parker-Hannifin Corporation will post 34.93 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Monday, August 31st will be given a dividend of $2.00 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.8%. Parker-Hannifin’s 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.