Evolve Private Wealth LLC Sells 611 Shares of Parker-Hannifin Corporation $PH

Evolve Private Wealth LLC decreased its holdings in Parker-Hannifin Corporation (NYSE:PH) by 66.1% in the second quarter, HoldingsChannel.com reports. The fund owned 313 shares of the industrial products company’s stock after selling 611 shares during the period. Evolve Private Wealth LLC’s holdings in Parker-Hannifin were worth $306,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in PH. BlackRock Inc. purchased a new stake in Parker-Hannifin in the second quarter worth about $10,163,362,000. Bank of America Corp DE grew its position in shares of Parker-Hannifin by 0.6% in the 4th quarter. Bank of America Corp DE now owns 3,926,896 shares of the industrial products company’s stock worth $3,451,584,000 after buying an additional 22,305 shares during the period. Capital World Investors increased its stake in shares of Parker-Hannifin by 0.6% in the 4th quarter. Capital World Investors now owns 2,600,844 shares of the industrial products company’s stock worth $2,286,038,000 after acquiring an additional 16,703 shares in the last quarter. Morgan Stanley increased its stake in shares of Parker-Hannifin by 1.1% in the 4th quarter. Morgan Stanley now owns 2,133,044 shares of the industrial products company’s stock worth $1,874,862,000 after acquiring an additional 22,367 shares in the last quarter. Finally, Norges Bank purchased a new position in Parker-Hannifin during the 4th quarter valued at about $1,756,230,000. Institutional investors own 82.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on PH shares. UBS Group boosted their price objective on shares of 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. BNP Paribas Exane reiterated an “outperform” rating and set a $1,220.00 target price (up from $1,090.00) on shares of Parker-Hannifin in a report on Friday, August 7th. Sanford C. Bernstein boosted their price target on Parker-Hannifin from $1,037.00 to $1,218.00 and gave the stock an “outperform” rating in a research report on Friday, August 14th. JPMorgan Chase & Co. cut their price target on Parker-Hannifin from $1,100.00 to $1,060.00 and set an “overweight” rating on the stock in a research note on Thursday, May 7th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Parker-Hannifin in a research report on Friday, July 17th. Seventeen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Parker-Hannifin presently has a consensus rating of “Moderate Buy” and an average price target of $1,100.00.

Parker-Hannifin Trading Up 2.4%

NYSE:PH opened at $1,040.76 on Thursday. The stock has a market cap of $131.19 billion, a price-to-earnings ratio of 36.53, a PEG ratio of 2.65 and a beta of 1.12. The company has a quick ratio of 0.74, a current ratio of 1.26 and a debt-to-equity ratio of 0.44. The company’s 50 day moving average price is $989.76 and its 200-day moving average price is $949.93. Parker-Hannifin Corporation has a 52 week low of $715.37 and a 52 week high of $1,099.94.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, August 6th. The industrial products company reported $9.27 earnings per share for the quarter, topping 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 company 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 earned $7.69 EPS. The firm’s revenue for the quarter was up 9.8% on a year-over-year basis. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. On average, equities research analysts forecast that Parker-Hannifin Corporation will post 34.93 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Stockholders 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 dividend yield of 0.8%. The ex-dividend date of this dividend is Monday, August 31st. Parker-Hannifin’s dividend payout ratio is presently 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.