Parker-Hannifin Corporation $PH Position Reduced by Sumitomo Life Insurance Co.

Sumitomo Life Insurance Co. trimmed its position in Parker-Hannifin Corporation (NYSE:PH) by 21.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,675 shares of the industrial products company’s stock after selling 982 shares during the period. Sumitomo Life Insurance Co.’s holdings in Parker-Hannifin were worth $3,595,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Texas Capital Bancshares Inc TX bought a new stake in shares of Parker-Hannifin in the 3rd quarter worth $25,000. HFM Investment Advisors LLC raised its position in Parker-Hannifin by 1,000.0% in the fourth quarter. HFM Investment Advisors LLC now owns 33 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 30 shares in the last quarter. Lloyd Advisory Services LLC. acquired a new stake in Parker-Hannifin in the 4th quarter valued at about $31,000. NFSG Corp boosted its position in shares of Parker-Hannifin by 94.4% during the 1st quarter. NFSG Corp now owns 35 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 17 shares in the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC grew its stake in shares of Parker-Hannifin by 80.0% in the 4th quarter. Mowery & Schoenfeld Wealth Management LLC now owns 36 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 16 shares during the last quarter. 82.44% of the stock is owned by institutional investors.

Parker-Hannifin Stock Performance

PH opened at $1,002.90 on Friday. Parker-Hannifin Corporation has a 1 year low of $715.37 and a 1 year high of $1,099.94. The stock has a market cap of $126.46 billion, a PE ratio of 35.20, a P/E/G ratio of 2.60 and a beta of 1.12. The company has a current ratio of 1.26, a quick ratio of 0.74 and a debt-to-equity ratio of 0.44. The stock’s 50 day simple moving average is $984.42 and its 200-day simple moving average is $948.75.

Parker-Hannifin (NYSE:PH) last issued its earnings results on Thursday, August 6th. The industrial products company reported $9.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.31 by $0.96. Parker-Hannifin had a return on equity of 28.48% and a net margin of 16.97%.The business had revenue of $5.75 billion during the quarter, compared to analysts’ expectations of $5.57 billion. During the same period in the prior year, the firm posted $7.69 EPS. Parker-Hannifin’s quarterly 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. Sell-side analysts forecast that Parker-Hannifin Corporation will post 34.93 EPS for the current year.

Parker-Hannifin Dividend Announcement

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

Analyst Ratings Changes

A number of analysts recently commented on PH shares. BNP Paribas Exane reiterated an “outperform” rating and issued a $1,220.00 target price (up from $1,090.00) on shares of Parker-Hannifin in a report on Friday, August 7th. Evercore set a $1,064.00 target price on Parker-Hannifin in a report on Monday, May 11th. Stifel Nicolaus set a $1,075.00 target price on Parker-Hannifin in a report on Friday, August 7th. Sanford C. Bernstein increased their target price on Parker-Hannifin from $1,037.00 to $1,218.00 and gave the company an “outperform” rating in a report on Friday, August 14th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Parker-Hannifin in a report on Friday, July 17th. Seventeen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $1,100.00.

Parker-Hannifin Company Profile

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.