ZWJ Investment Counsel Inc. Makes New $1 Million Investment in Parker-Hannifin Corporation $PH

ZWJ Investment Counsel Inc. acquired a new stake in shares of Parker-Hannifin Corporation (NYSE:PH) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 1,052 shares of the industrial products company’s stock, valued at approximately $1,005,000.

A number of other hedge funds also recently made changes to their positions in the stock. Mather Group LLC. boosted its holdings in shares of Parker-Hannifin by 2.3% in the 3rd quarter. Mather Group LLC. now owns 3,190 shares of the industrial products company’s stock worth $3,048,000 after purchasing an additional 71 shares in the last quarter. Columbus Macro LLC increased its position in shares of Parker-Hannifin by 1.2% during the 3rd quarter. Columbus Macro LLC now owns 11,699 shares of the industrial products company’s stock valued at $11,177,000 after purchasing an additional 142 shares during the last quarter. First Citizens Bank & Trust Co. raised its holdings in shares of Parker-Hannifin by 146.6% during the 3rd quarter. First Citizens Bank & Trust Co. now owns 2,345 shares of the industrial products company’s stock valued at $2,240,000 after buying an additional 1,394 shares in the last quarter. Focus Financial Network Inc. raised its holdings in shares of Parker-Hannifin by 8.5% during the 3rd quarter. Focus Financial Network Inc. now owns 953 shares of the industrial products company’s stock valued at $910,000 after buying an additional 75 shares in the last quarter. Finally, Salem Investment Counselors Inc. lifted its position in Parker-Hannifin by 56.0% in the 3rd quarter. Salem Investment Counselors Inc. now owns 234 shares of the industrial products company’s stock worth $224,000 after buying an additional 84 shares during the last quarter. 82.44% of the stock is owned by institutional investors.

Parker-Hannifin Stock Performance

Shares of NYSE:PH opened at $956.18 on Thursday. The company has a market cap of $120.59 billion, a price-to-earnings ratio of 33.56, a price-to-earnings-growth ratio of 2.69 and a beta of 1.12. The company has a 50-day moving average price of $984.57 and a 200-day moving average price of $949.37. 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 12 month low of $721.17 and a 12 month high of $1,099.94.

Parker-Hannifin (NYSE:PH) last posted its earnings results 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. The company had revenue of $5.75 billion during the quarter, compared to analyst estimates 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 for the quarter was up 9.8% on a year-over-year basis. During the same period in the prior 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, equities analysts anticipate that Parker-Hannifin Corporation will post 35.29 EPS for the current year.

Parker-Hannifin Announces Dividend

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

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Parker-Hannifin in a research note on Friday, July 17th. Susquehanna lifted their price target on shares of Parker-Hannifin from $1,100.00 to $1,250.00 and gave the stock a “positive” rating in a research note on Friday, August 7th. Truist Financial lifted their price target on shares of 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. Stifel Nicolaus set a $1,075.00 price objective on shares of Parker-Hannifin in a report on Friday, August 7th. Finally, Citigroup upped their price objective on shares of Parker-Hannifin from $1,232.00 to $1,234.00 and gave the company a “buy” rating in a research note on Monday. Eighteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $1,153.22.

Insider Activity

In other news, VP Berend Bracht sold 602 shares of the business’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 transaction of $626,362.94. Following the transaction, the vice president directly owned 4,399 shares of the company’s stock, valued at approximately $4,577,027.53. The trade was a 12.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.35% of the company’s stock.

Parker-Hannifin Company Profile

Parker-Hannifin Corporation is a diversified manufacturer of motion and control technologies. The company develops and produces components and systems that manage the movement and control of liquids, gases and mechanical force across industrial, mobile and aerospace applications.

Its product portfolio includes hydraulic and pneumatic systems, electromechanical technologies, filtration and fluid-management equipment, seals and shielding products, connectors, pumps, valves, sensors, thermal-management solutions and related engineered systems.