4,697 Shares in Parker-Hannifin Corporation $PH Bought by Transamerica Financial Advisors LLC

Transamerica Financial Advisors LLC bought a new position in shares of Parker-Hannifin Corporation (NYSE:PH) during the 2nd quarter, HoldingsChannel reports. The institutional investor bought 4,697 shares of the industrial products company’s stock, valued at approximately $4,595,000.

Several other large investors also recently modified their holdings of the business. Corient Private Wealth LP bought a new position in shares of Parker-Hannifin during the 2nd quarter valued at about $169,690,000. Perennial Investment Advisors LLC acquired a new position in shares of Parker-Hannifin in the 2nd quarter valued at approximately $362,000. Pingora Partners LLC bought a new stake in Parker-Hannifin during the 2nd quarter worth approximately $54,000. Ascent Advisors LLC bought a new stake in Parker-Hannifin during the 2nd quarter worth approximately $309,000. Finally, Ausdal Financial Partners Inc. acquired a new stake in Parker-Hannifin during the 2nd quarter worth approximately $228,000. 82.44% of the stock is currently owned by institutional investors.

Parker-Hannifin Trading Up 2.4%

NYSE PH opened at $1,040.76 on Thursday. The stock has a 50 day moving average of $989.76 and a 200-day moving average of $949.93. Parker-Hannifin Corporation has a 12 month low of $715.37 and a 12 month high of $1,099.94. The company has a market cap of $131.19 billion, a PE ratio of 36.53, a PEG ratio of 2.65 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.

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, 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 company 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 earned $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. On average, equities research analysts anticipate that Parker-Hannifin Corporation will post 34.93 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Monday, August 31st will be issued a dividend of $2.00 per share. 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 payout ratio is presently 28.08%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PH. Truist Financial lifted their price target on shares of Parker-Hannifin from $1,269.00 to $1,358.00 and gave the company a “buy” rating in a research note on Friday, August 7th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $1,214.00 price objective on shares of Parker-Hannifin in a research report on Friday, August 7th. JPMorgan Chase & Co. reduced their target price on shares of Parker-Hannifin from $1,100.00 to $1,060.00 and set an “overweight” rating for the company in a research note on Thursday, May 7th. Evercore set a $1,064.00 target price on Parker-Hannifin in a report on Monday, May 11th. Finally, BNP Paribas Exane reissued an “outperform” rating and issued a $1,220.00 price target (up from $1,090.00) on shares of Parker-Hannifin in a research note 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’s stock. According to MarketBeat, the stock currently 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.