Parker-Hannifin Corporation $PH Stock: UNIVEST FINANCIAL Corp Increases Holdings

UNIVEST FINANCIAL Corp grew its position in Parker-Hannifin Corporation (NYSE:PH) by 100.1% in the third quarter, Holdings Channel reports. The fund owned 12,726 shares of the industrial products company’s stock after acquiring an additional 6,367 shares during the quarter. UNIVEST FINANCIAL Corp’s holdings in Parker-Hannifin were worth $12,159,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of PH. Proficio Capital Partners LLC increased its holdings in Parker-Hannifin by 234.0% in the second quarter. Proficio Capital Partners LLC now owns 1,954 shares of the industrial products company’s stock valued at $1,911,000 after purchasing an additional 1,369 shares during the period. BNP Paribas lifted its holdings in Parker-Hannifin by 4.1% during the 2nd quarter. BNP Paribas now owns 54,208 shares of the industrial products company’s stock worth $52,717,000 after buying an additional 2,121 shares during the period. Integrated Wealth Concepts LLC grew its position in shares of Parker-Hannifin by 86.1% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 3,503 shares of the industrial products company’s stock valued at $3,426,000 after buying an additional 1,621 shares during the last quarter. National Pension Service grew its position in shares of Parker-Hannifin by 3.0% in the 2nd quarter. National Pension Service now owns 367,138 shares of the industrial products company’s stock valued at $359,105,000 after buying an additional 10,590 shares during the last quarter. Finally, Rakuten Investment Management Inc. acquired a new stake in shares of Parker-Hannifin in the second quarter valued at about $19,883,000. 82.44% of the stock is currently owned by institutional investors.

Parker-Hannifin Trading Up 0.8%

NYSE:PH opened at $972.53 on Thursday. The firm has a fifty day simple moving average of $945.68 and a two-hundred day simple moving average of $949.65. Parker-Hannifin Corporation has a 12 month low of $806.22 and a 12 month high of $1,099.94. The stock has a market capitalization of $122.64 billion, a price-to-earnings ratio of 33.40, a PEG ratio of 2.28 and a beta of 1.15. The company has a current ratio of 0.94, a quick ratio of 0.55 and a debt-to-equity ratio of 0.79.

Parker-Hannifin (NYSE:PH) last issued its earnings results on Thursday, November 5th. The industrial products company reported $8.90 EPS for the quarter, beating the consensus estimate of $8.21 by $0.69. The company had revenue of $5.99 billion during the quarter, compared to the consensus estimate of $5.81 billion. Parker-Hannifin had a return on equity of 28.80% and a net margin of 16.62%. The firm’s revenue for the quarter was up 17.9% compared to the same quarter last year. During the same period last year, the business posted $7.22 EPS. Parker-Hannifin has set its FY 2027 guidance at 36.450-37.250 EPS. Analysts expect that Parker-Hannifin Corporation will post 37.07 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

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

Insider Transactions at Parker-Hannifin

In other Parker-Hannifin news, VP Berend Bracht sold 602 shares of the business’s 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 completion of the sale, the vice president owned 4,399 shares in the company, valued at approximately $4,577,027.53. The trade was a 12.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PH. BMO Capital Markets restated an “outperform” rating and set a $1,214.00 price objective (up from $1,068.00) on shares of Parker-Hannifin in a research report on Friday, August 7th. Deutsche Bank upped their target price on Parker-Hannifin from $998.00 to $1,023.00 and gave the company a “hold” rating in a report on Wednesday, September 30th. Robert W. Baird increased their target price on shares of Parker-Hannifin from $1,050.00 to $1,275.00 in a research report on Friday, August 7th. Susquehanna increased their target price on shares of Parker-Hannifin from $1,100.00 to $1,250.00 and gave the company a “positive” rating in a research report on Friday, August 7th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Parker-Hannifin in a report on Thursday, October 15th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $1,146.35.

About Parker-Hannifin

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.