Quantbot Technologies LP Trims Position in Parker-Hannifin Corporation $PH

Quantbot Technologies LP decreased its stake in shares of Parker-Hannifin Corporation (NYSE:PH) by 99.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 76 shares of the industrial products company’s stock after selling 8,089 shares during the quarter. Quantbot Technologies LP’s holdings in Parker-Hannifin were worth $74,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in PH. WealthShield Partners LLC increased its position in shares of Parker-Hannifin by 3.9% during the second quarter. WealthShield Partners LLC now owns 3,166 shares of the industrial products company’s stock worth $3,097,000 after acquiring an additional 118 shares during the period. George Kaiser Family Foundation purchased a new position in Parker-Hannifin during the 2nd quarter worth $376,000. Emerald Investment Advisers LLC raised its position in Parker-Hannifin by 5.1% during the 2nd quarter. Emerald Investment Advisers LLC now owns 1,144 shares of the industrial products company’s stock valued at $1,119,000 after purchasing an additional 55 shares in the last quarter. Landscape Capital Management L.L.C. raised its position in Parker-Hannifin by 50.0% during the 2nd quarter. Landscape Capital Management L.L.C. now owns 4,446 shares of the industrial products company’s stock valued at $4,349,000 after purchasing an additional 1,482 shares in the last quarter. Finally, Korea Investment CORP lifted its holdings in shares of Parker-Hannifin by 18.7% in the 2nd quarter. Korea Investment CORP now owns 95,260 shares of the industrial products company’s stock worth $93,176,000 after buying an additional 14,974 shares during the period. 82.44% of the stock is currently owned by institutional investors.

Parker-Hannifin Stock Performance

PH stock opened at $979.89 on Tuesday. The firm has a market cap of $123.52 billion, a price-to-earnings ratio of 34.39, a PEG ratio of 2.59 and a beta of 1.12. The firm has a 50-day simple moving average of $992.06 and a two-hundred day simple moving average of $950.21. Parker-Hannifin Corporation has a one year low of $715.37 and a one year high of $1,099.94. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.74 and a current ratio of 1.26.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings results on Thursday, August 6th. The industrial products company reported $9.27 earnings per share for the quarter, beating 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 business had revenue of $5.75 billion for the quarter, compared to analysts’ expectations of $5.57 billion. During the same period last year, the business earned $7.69 EPS. The company’s revenue was up 9.8% compared to the same quarter last year. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. On average, equities analysts forecast that Parker-Hannifin Corporation will post 34.93 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Monday, August 31st will be paid a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 0.8%. The ex-dividend date is Monday, August 31st. Parker-Hannifin’s dividend payout ratio (DPR) is 28.08%.

Analyst Upgrades and Downgrades

PH has been the topic of several research reports. Susquehanna raised their price target on Parker-Hannifin from $1,100.00 to $1,250.00 and gave the company a “positive” rating in a research note on Friday, August 7th. BMO Capital Markets reissued an “outperform” rating and set a $1,214.00 target price on shares of Parker-Hannifin in a research report on Friday, August 7th. BNP Paribas Exane restated an “outperform” rating and issued a $1,220.00 price target (up from $1,090.00) on shares of Parker-Hannifin in a report on Friday, August 7th. UBS Group upped their price target on shares of Parker-Hannifin from $1,092.00 to $1,250.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Parker-Hannifin from $1,100.00 to $1,060.00 and set an “overweight” rating on the stock in a report on Thursday, May 7th. Seventeen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Parker-Hannifin presently has a consensus rating of “Moderate Buy” and an average target price of $1,100.00.

Insider Transactions at Parker-Hannifin

In other Parker-Hannifin news, VP Berend Bracht sold 602 shares of Parker-Hannifin stock in a transaction on 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 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.32% of the company’s stock.

About Parker-Hannifin

Parker-Hannifin Corporation (NYSE: PH) is a global manufacturer and provider of motion and control technologies and systems. The company designs, manufactures and services a broad range of engineered components and systems used to control the movement and flow of liquids, gases and hydraulic power. Its product portfolio is applied across demanding environments and includes solutions for industrial manufacturing, aerospace, mobile equipment and other engineered applications.

Parker-Hannifin’s product and service offerings span hydraulic and pneumatic components, fittings and fluid connectors, valves, pumps and motors, electromechanical actuators and motion-control systems, filtration and separation products, and seals and sealing systems.