Parker-Hannifin Corporation $PH Stake Boosted by Generali Asset Management SPA SGR

Generali Asset Management SPA SGR grew its stake in shares of Parker-Hannifin Corporation (NYSE:PH) by 9.4% during the 3rd quarter, HoldingsChannel reports. The fund owned 10,174 shares of the industrial products company’s stock after acquiring an additional 876 shares during the period. Generali Asset Management SPA SGR’s holdings in Parker-Hannifin were worth $9,720,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. BlackRock Inc. purchased a new stake in shares of Parker-Hannifin during the second quarter worth $10,163,362,000. State Street Corp boosted its position in Parker-Hannifin by 0.5% during the second quarter. State Street Corp now owns 9,385,389 shares of the industrial products company’s stock valued at $9,180,037,000 after purchasing an additional 42,548 shares during the last quarter. Bank of America Corp DE purchased a new position in Parker-Hannifin in the second quarter valued at about $3,273,507,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Parker-Hannifin by 2.5% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,032,942 shares of the industrial products company’s stock valued at $1,010,341,000 after purchasing an additional 25,167 shares in the last quarter. Finally, Deutsche Bank AG purchased a new position in Parker-Hannifin in the second quarter valued at about $987,587,000. 82.44% of the stock is owned by institutional investors and hedge funds.

Parker-Hannifin Stock Performance

Parker-Hannifin stock opened at $901.68 on Wednesday. Parker-Hannifin Corporation has a 1-year low of $755.10 and a 1-year high of $1,099.94. The firm’s fifty day simple moving average is $962.67 and its 200-day simple moving average is $949.81.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings data 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 business had revenue of $5.75 billion during the quarter, compared to the consensus estimate of $5.57 billion. The company’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $7.69 earnings per share. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. On average, research analysts predict that Parker-Hannifin Corporation will post 35.72 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 11th. Shareholders of record on Monday, August 31st were issued a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 0.9%. The ex-dividend date was Monday, August 31st.

Insider Buying and Selling at Parker-Hannifin

In other news, VP Berend Bracht sold 602 shares of the company’s stock in a transaction dated 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 completion of the sale, the vice president owned 4,399 shares in the company, valued at approximately $4,577,027.53. This represents a 12.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.35% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

PH has been the topic of several research reports. Raymond James Financial upped their target price on Parker-Hannifin from $1,050.00 to $1,250.00 and gave the stock an “outperform” rating in a research report on Monday, August 10th. Wells Fargo & Company initiated coverage on Parker-Hannifin in a report on Thursday, September 24th. They set an “equal weight” rating and a $1,050.00 price target for the company. Truist Financial lifted their price target on Parker-Hannifin from $1,269.00 to $1,358.00 and gave the company a “buy” rating in a report on Friday, August 7th. Robert W. Baird boosted their price target on Parker-Hannifin from $1,050.00 to $1,275.00 in a research note on Friday, August 7th. Finally, Susquehanna increased their price objective on Parker-Hannifin from $1,100.00 to $1,250.00 and gave the stock a “positive” rating in a report on Friday, August 7th. Eighteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,146.35.

Parker-Hannifin Profile

Parker-Hannifin Corporation is a diversified manufacturer of motion and control technologies and systems. The company serves aerospace, industrial, and other specialized markets with products designed to control the movement and flow of liquids and gases, as well as mechanical motion and power.

Its product portfolio includes hydraulic and pneumatic systems, filtration and process-control equipment, electromechanical technologies, sealing and shielding products, connectors, pumps, valves, and related components.