Parker-Hannifin Corporation $PH Shares Purchased by Hsbc Holdings PLC

Hsbc Holdings PLC raised its position in Parker-Hannifin Corporation (NYSE:PH) by 3.2% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 234,789 shares of the industrial products company’s stock after acquiring an additional 7,365 shares during the period. Hsbc Holdings PLC’s holdings in Parker-Hannifin were worth $229,281,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Brighton Jones LLC grew its position in Parker-Hannifin by 5.9% in the fourth 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 period. Bison Wealth LLC boosted its position in shares of Parker-Hannifin by 4.5% during the 4th quarter. Bison Wealth LLC now owns 749 shares of the industrial products company’s stock worth $476,000 after purchasing an additional 32 shares during the period. Empowered Funds LLC lifted its stake in Parker-Hannifin by 0.5% during the first quarter. Empowered Funds LLC now owns 2,894 shares of the industrial products company’s stock worth $1,759,000 after purchasing an additional 15 shares in the last quarter. Acadian Asset Management LLC boosted its position in shares of Parker-Hannifin by 26.2% during the first 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 period. Finally, Sivia Capital Partners LLC grew its stake in shares of Parker-Hannifin by 3.6% in the second quarter. Sivia Capital Partners LLC now owns 430 shares of the industrial products company’s stock valued at $300,000 after buying an additional 15 shares in the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Analysts Set New Price Targets

PH has been the subject of a number of research analyst reports. Truist Financial raised their target price on Parker-Hannifin from $1,269.00 to $1,358.00 and gave the company a “buy” rating in a report on Friday, August 7th. Mizuho set a $1,050.00 price objective on shares of Parker-Hannifin in a report on Friday, May 1st. Wells Fargo & Company reduced their target price on shares of Parker-Hannifin from $980.00 to $950.00 and set an “overweight” rating on the stock in a report on Tuesday, May 26th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Parker-Hannifin in a report on Friday, July 17th. Finally, KeyCorp raised their price objective on shares of Parker-Hannifin from $1,100.00 to $1,210.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Seventeen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $1,100.00.

Parker-Hannifin Stock Performance

Shares of PH stock opened at $1,015.36 on Wednesday. The stock’s 50-day moving average is $987.88 and its two-hundred day moving average is $949.41. 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 Corporation has a 1 year low of $715.37 and a 1 year high of $1,099.94. The firm has a market cap of $127.99 billion, a price-to-earnings ratio of 35.64, a PEG ratio of 2.64 and a beta of 1.12.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings data 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 return on equity of 28.48% and a net margin of 16.97%.The company had revenue of $5.75 billion during the quarter, compared to analysts’ expectations of $5.57 billion. During the same quarter in the previous year, the business earned $7.69 earnings per share. The firm’s revenue for the quarter was up 9.8% on a year-over-year basis. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. Analysts predict that Parker-Hannifin Corporation will post 34.93 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

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

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.