SIR Capital Management L.P. Increases Position in Parker-Hannifin Corporation $PH

SIR Capital Management L.P. increased its holdings in Parker-Hannifin Corporation (NYSE:PH) by 178.9% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,463 shares of the industrial products company’s stock after purchasing an additional 2,863 shares during the period. SIR Capital Management L.P.’s holdings in Parker-Hannifin were worth $4,365,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Brighton Jones LLC grew its holdings in Parker-Hannifin by 5.9% in the 4th quarter. Brighton Jones LLC now owns 1,808 shares of the industrial products company’s stock worth $1,150,000 after acquiring an additional 101 shares during the last quarter. Bison Wealth LLC lifted its holdings in Parker-Hannifin by 4.5% in the 4th quarter. Bison Wealth LLC now owns 749 shares of the industrial products company’s stock worth $476,000 after buying an additional 32 shares during the period. Empowered Funds LLC lifted its holdings in Parker-Hannifin by 0.5% in the 1st quarter. Empowered Funds LLC now owns 2,894 shares of the industrial products company’s stock worth $1,759,000 after buying an additional 15 shares during the period. Acadian Asset Management LLC grew its position in shares of Parker-Hannifin by 26.2% in the 1st quarter. Acadian Asset Management LLC now owns 799 shares of the industrial products company’s stock worth $484,000 after buying an additional 166 shares during the last quarter. Finally, Sivia Capital Partners LLC grew its position in shares of Parker-Hannifin by 3.6% in the 2nd quarter. Sivia Capital Partners LLC now owns 430 shares of the industrial products company’s stock worth $300,000 after buying an additional 15 shares during the last quarter. 82.44% of the stock is owned by hedge funds and other institutional investors.

Parker-Hannifin Stock Up 1.3%

Shares of Parker-Hannifin stock opened at $1,014.87 on Tuesday. Parker-Hannifin Corporation has a 52-week low of $715.37 and a 52-week high of $1,099.94. The stock has a market capitalization of $127.96 billion, a PE ratio of 35.62, a price-to-earnings-growth ratio of 2.61 and a beta of 1.12. The company has a 50-day simple moving average of $986.33 and a two-hundred day simple moving average of $949.08. 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 data on Thursday, August 6th. The industrial products company reported $9.27 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $5.57 billion. During the same period in the prior year, the firm posted $7.69 EPS. The firm’s quarterly revenue was up 9.8% on a year-over-year basis. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. On average, analysts anticipate that Parker-Hannifin Corporation will post 34.93 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on PH shares. Evercore set a $1,064.00 target price on Parker-Hannifin in a report on Monday, May 11th. BMO Capital Markets reissued an “outperform” rating and set a $1,214.00 price objective on shares of Parker-Hannifin in a research report on Friday, August 7th. Weiss Ratings restated a “buy (b)” rating on shares of Parker-Hannifin in a report on Friday, July 17th. Sanford C. Bernstein raised their target price on shares of Parker-Hannifin from $1,037.00 to $1,218.00 and gave the stock an “outperform” rating in a research report on Friday, August 14th. Finally, Stifel Nicolaus set a $1,075.00 price target on shares of Parker-Hannifin in a research report on Friday, August 7th. Seventeen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Parker-Hannifin currently has an average rating of “Moderate Buy” and a consensus target price of $1,100.00.

Parker-Hannifin 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.