Parker-Hannifin Corporation $PH Stock Position Increased by CoreCap Advisors LLC

CoreCap Advisors LLC grew its position in Parker-Hannifin Corporation (NYSE:PH) by 11.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,466 shares of the industrial products company’s stock after purchasing an additional 751 shares during the period. CoreCap Advisors LLC’s holdings in Parker-Hannifin were worth $7,133,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. BlackRock Inc. purchased a new stake in Parker-Hannifin in the second quarter valued at approximately $10,163,362,000. State Street Corp raised its position in Parker-Hannifin by 0.5% during the 2nd quarter. State Street Corp now owns 9,385,389 shares of the industrial products company’s stock worth $9,180,037,000 after buying an additional 42,548 shares during the last quarter. Bank of America Corp DE purchased a new position in Parker-Hannifin during the 2nd quarter worth approximately $3,273,507,000. Nuveen LLC lifted its stake in Parker-Hannifin by 7.4% during the 4th quarter. Nuveen LLC now owns 1,367,683 shares of the industrial products company’s stock valued at $1,202,139,000 after acquiring an additional 94,343 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Parker-Hannifin by 2.5% in the 2nd 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 acquiring an additional 25,167 shares during the last quarter. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Parker-Hannifin

In other Parker-Hannifin news, VP Berend Bracht sold 602 shares of the stock in a transaction on Wednesday, August 26th. The shares were 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 $4,577,027.53. This trade represents a 12.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.35% of the stock is currently owned by insiders.

Parker-Hannifin Price Performance

Shares of PH stock traded down $6.34 during mid-day trading on Thursday, hitting $946.45. 543,364 shares of the stock were exchanged, compared to its average volume of 690,680. Parker-Hannifin Corporation has a 52-week low of $715.37 and a 52-week high of $1,099.94. 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 has a market cap of $119.36 billion, a PE ratio of 33.22, a price-to-earnings-growth ratio of 3.02 and a beta of 1.12. The firm has a fifty day moving average of $987.62 and a 200 day moving average of $947.74.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings results on Thursday, August 6th. The industrial products company reported $9.27 earnings per share for the quarter, beating the consensus estimate of $8.31 by $0.96. The firm had revenue of $5.75 billion during the quarter, compared to analyst estimates of $5.57 billion. Parker-Hannifin had a return on equity of 28.48% and a net margin of 16.97%.Parker-Hannifin’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $7.69 EPS. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. Research analysts anticipate that Parker-Hannifin Corporation will post 35.02 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

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

Analysts Set New Price Targets

A number of research firms recently issued reports on PH. KeyCorp boosted their target price on shares of Parker-Hannifin from $1,100.00 to $1,210.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. UBS Group boosted their price objective on Parker-Hannifin from $1,092.00 to $1,250.00 and gave the company a “buy” rating in a report on Friday, August 7th. Wells Fargo & Company began coverage on Parker-Hannifin in a research note on Thursday, September 24th. They issued an “equal weight” rating and a $1,050.00 target price on the stock. Stifel Nicolaus set a $1,075.00 target price on Parker-Hannifin in a report on Friday, August 7th. Finally, BNP Paribas Exane reiterated an “outperform” rating and set a $1,220.00 price target (up from $1,090.00) on shares of Parker-Hannifin in a research report on Friday, August 7th. Sixteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Parker-Hannifin has a consensus rating of “Moderate Buy” and a consensus price target of $1,119.55.

Parker-Hannifin 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.