Parker-Hannifin Corporation $PH Stock: Confluence Wealth Services Inc. Boosts Holdings

Confluence Wealth Services Inc. boosted its holdings in shares of Parker-Hannifin Corporation (NYSE:PH) by 60.4% during the third quarter, HoldingsChannel reports. The fund owned 2,951 shares of the industrial products company’s stock after purchasing an additional 1,111 shares during the quarter. Confluence Wealth Services Inc.’s holdings in Parker-Hannifin were worth $2,819,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Polaris Financial Partners bought a new position in shares of Parker-Hannifin during the third quarter valued at $26,000. Latitude Advisors LLC bought a new stake in shares of Parker-Hannifin in the third quarter worth $27,000. Archer Investment Corp bought a new stake in shares of Parker-Hannifin in the second quarter worth $28,000. Team Financial Group LLC bought a new stake in shares of Parker-Hannifin in the third quarter worth $28,000. Finally, Pension & Wealth Management Advisors Inc. acquired a new stake in Parker-Hannifin in the third quarter valued at $30,000. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, VP Berend Bracht sold 602 shares of Parker-Hannifin stock in a transaction dated Wednesday, August 26th. The stock was 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. This trade represents a 12.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on PH shares. BMO Capital Markets reaffirmed an “outperform” rating and set a $1,214.00 target price (up from $1,068.00) on shares of Parker-Hannifin in a research report on Friday, August 7th. Raymond James Financial upped their price target on Parker-Hannifin from $1,050.00 to $1,250.00 and gave the company an “outperform” rating in a research report on Monday, August 10th. Robert W. Baird upped their price target on Parker-Hannifin from $1,050.00 to $1,275.00 in a research report on Friday, August 7th. Truist Financial increased their price target on Parker-Hannifin from $1,269.00 to $1,358.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Parker-Hannifin from $998.00 to $1,023.00 and gave the stock a “hold” rating in a research report on Wednesday, September 30th. Eighteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $1,146.35.

Parker-Hannifin Trading Up 0.8%

NYSE:PH opened at $964.17 on Wednesday. Parker-Hannifin Corporation has a 52 week low of $806.22 and a 52 week high of $1,099.94. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.55 and a current ratio of 0.94. The firm’s fifty day moving average is $945.24 and its 200-day moving average is $949.42. The firm has a market cap of $121.59 billion, a P/E ratio of 33.11, a P/E/G ratio of 2.26 and a beta of 1.15.

Parker-Hannifin (NYSE:PH) last announced its earnings results on Thursday, November 5th. The industrial products company reported $8.90 earnings per share for the quarter, topping analysts’ consensus estimates of $8.21 by $0.69. The business had revenue of $5.99 billion during the quarter, compared to the consensus estimate of $5.81 billion. Parker-Hannifin had a net margin of 16.62% and a return on equity of 28.80%. Parker-Hannifin’s quarterly revenue was up 17.9% on a year-over-year basis. During the same quarter last year, the firm earned $7.22 earnings per share. Parker-Hannifin has set its FY 2027 guidance at 36.450-37.250 EPS. Equities analysts expect that Parker-Hannifin Corporation will post 37.04 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 4th. Shareholders of record on Friday, November 13th will be issued a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Friday, November 13th. Parker-Hannifin’s dividend payout ratio (DPR) is presently 27.47%.

Parker-Hannifin Company Profile

Parker-Hannifin is a global manufacturer of motion and control technologies. Its products include hydraulic and pneumatic systems, fluid connectors, filtration and sealing products, electromechanical components, and systems for aerospace and climate control applications. The company serves customers across industries such as aerospace, manufacturing, transportation, energy, and life sciences. Its operations span markets around the world, with businesses organized around industrial and aerospace products and services.