Mirae Asset Global Investments Co. Ltd. Acquires New Stake in Parker-Hannifin Corporation $PH

Mirae Asset Global Investments Co. Ltd. bought a new stake in Parker-Hannifin Corporation (NYSE:PH) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 33,787 shares of the industrial products company’s stock, valued at approximately $32,281,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Stevens Capital Partners boosted its stake in Parker-Hannifin by 20.5% during the 3rd quarter. Stevens Capital Partners now owns 400 shares of the industrial products company’s stock valued at $382,000 after acquiring an additional 68 shares during the last quarter. Vise Technologies Inc. grew its holdings in Parker-Hannifin by 12.6% during the 3rd quarter. Vise Technologies Inc. now owns 6,842 shares of the industrial products company’s stock worth $6,537,000 after acquiring an additional 763 shares in the last quarter. Investment Partners LTD. acquired a new position in Parker-Hannifin during the 3rd quarter worth $273,000. Moss Adams Wealth Advisors LLC grew its holdings in Parker-Hannifin by 6.1% during the 3rd quarter. Moss Adams Wealth Advisors LLC now owns 484 shares of the industrial products company’s stock worth $463,000 after acquiring an additional 28 shares in the last quarter. Finally, MGO One Seven LLC increased its position in shares of Parker-Hannifin by 17.0% in the 3rd quarter. MGO One Seven LLC now owns 10,370 shares of the industrial products company’s stock worth $9,907,000 after purchasing an additional 1,506 shares during the last quarter. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. TD Cowen upped their target price on shares of Parker-Hannifin from $850.00 to $950.00 and gave the company a “hold” rating in a research note on Wednesday, October 14th. Robert W. Baird lifted their price target on Parker-Hannifin from $1,050.00 to $1,275.00 in a research note on Friday, August 7th. UBS Group set a $950.00 price target on Parker-Hannifin in a research note on Wednesday, October 14th. Weiss Ratings reissued a “buy (b)” rating on shares of Parker-Hannifin in a report on Thursday, October 15th. Finally, Evercore upped their price objective on Parker-Hannifin from $1,064.00 to $1,217.00 and gave the company an “outperform” rating in a research note on Tuesday, August 11th. Eighteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $1,146.35.

Insider Activity

In other news, VP Berend Bracht sold 602 shares of Parker-Hannifin stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $1,040.47, for a total value of $626,362.94. Following the completion of 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.35% of the company’s stock.

Parker-Hannifin Stock Performance

Shares of PH opened at $928.57 on Tuesday. The business’s fifty day moving average price is $954.69 and its 200 day moving average price is $949.68. Parker-Hannifin Corporation has a 12-month low of $755.10 and a 12-month high of $1,099.94. The stock has a market capitalization of $117.10 billion, a PE ratio of 32.59, a price-to-earnings-growth ratio of 2.54 and a beta of 1.12. 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 (NYSE:PH) last released its quarterly earnings data on Thursday, August 6th. The industrial products company reported $9.27 EPS 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 firm had revenue of $5.75 billion during the quarter, compared to the consensus estimate of $5.57 billion. During the same quarter in the previous year, the company posted $7.69 earnings per share. The firm’s revenue was up 9.8% on a year-over-year basis. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. Equities research analysts forecast that Parker-Hannifin Corporation will post 35.72 EPS for the current year.

Parker-Hannifin Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 4th. Stockholders of record on Friday, November 13th will be given a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Friday, November 13th. Parker-Hannifin’s dividend payout ratio (DPR) is presently 28.08%.

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.