Gamco Investors INC. ET AL Buys 802 Shares of Parker-Hannifin Corporation $PH

Gamco Investors INC. ET AL grew its stake in shares of Parker-Hannifin Corporation (NYSE:PH) by 43.3% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,654 shares of the industrial products company’s stock after buying an additional 802 shares during the quarter. Gamco Investors INC. ET AL’s holdings in Parker-Hannifin were worth $2,596,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Texas Capital Bancshares Inc TX purchased a new stake in Parker-Hannifin during the third quarter valued at about $25,000. HFM Investment Advisors LLC lifted its stake in Parker-Hannifin by 1,000.0% during the fourth quarter. HFM Investment Advisors LLC now owns 33 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 30 shares during the last quarter. Lloyd Advisory Services LLC. purchased a new position in shares of Parker-Hannifin in the 4th quarter worth about $31,000. NFSG Corp boosted its holdings in shares of Parker-Hannifin by 94.4% in the 1st quarter. NFSG Corp now owns 35 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 17 shares in the last quarter. Finally, First Command Advisory Services Inc. increased its position in shares of Parker-Hannifin by 1,133.3% during the 4th quarter. First Command Advisory Services Inc. now owns 37 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 34 shares during the last quarter. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on PH. BNP Paribas Exane reissued an “outperform” rating and set a $1,220.00 price objective (up from $1,090.00) on shares of Parker-Hannifin in a report on Friday, August 7th. Truist Financial upped their target price on Parker-Hannifin from $1,269.00 to $1,358.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. UBS Group increased their price target on shares of Parker-Hannifin from $1,092.00 to $1,250.00 and gave the company a “buy” rating in a research report on Friday, August 7th. KeyCorp lifted their price target on shares of Parker-Hannifin from $1,100.00 to $1,210.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Finally, Stifel Nicolaus set a $1,075.00 price objective on shares of Parker-Hannifin in a report on Friday, August 7th. Seventeen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $1,100.00.

Parker-Hannifin Stock Up 0.3%

NYSE 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. 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 capitalization of $126.46 billion, a PE ratio of 35.20, a PEG ratio of 2.61 and a beta of 1.12. The business’s 50-day moving average is $984.42 and its 200 day moving average is $948.75.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings results on Thursday, August 6th. The industrial products company reported $9.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.31 by $0.96. The company had revenue of $5.75 billion during the quarter, compared to the consensus estimate of $5.57 billion. Parker-Hannifin had a net margin of 16.97% and a return on equity of 28.48%. Parker-Hannifin’s revenue was up 9.8% on a year-over-year basis. During the same period in the prior year, the firm earned $7.69 earnings per share. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. Sell-side analysts forecast that Parker-Hannifin Corporation will post 34.93 earnings per share for the current year.

Parker-Hannifin Announces Dividend

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

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.