Rakuten Investment Management Inc. Makes New $19.88 Million Investment in Parker-Hannifin Corporation $PH

Rakuten Investment Management Inc. acquired a new position in shares of Parker-Hannifin Corporation (NYSE:PH) in the 2nd quarter, HoldingsChannel reports. The firm acquired 20,630 shares of the industrial products company’s stock, valued at approximately $19,883,000.

A number of other institutional investors also recently modified their holdings of PH. Fideuram Asset Management Ireland dac acquired a new stake in Parker-Hannifin during the fourth quarter worth about $1,253,000. Truist Financial Corp lifted its stake in shares of Parker-Hannifin by 2.7% in the 4th quarter. Truist Financial Corp now owns 174,852 shares of the industrial products company’s stock valued at $153,687,000 after purchasing an additional 4,673 shares in the last quarter. Shepherd Street Advisors LLC purchased a new stake in shares of Parker-Hannifin during the 4th quarter worth about $1,736,000. Jefferies Financial Group Inc. purchased a new stake in shares of Parker-Hannifin during the 4th quarter worth about $11,434,000. Finally, Horizon Investments LLC increased its position in Parker-Hannifin by 78.8% during the 4th quarter. Horizon Investments LLC now owns 8,829 shares of the industrial products company’s stock worth $7,760,000 after purchasing an additional 3,892 shares in the last quarter. Institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Stock Down 1.6%

NYSE PH opened at $995.24 on Friday. The company has a quick ratio of 0.74, a current ratio of 1.26 and a debt-to-equity ratio of 0.44. Parker-Hannifin Corporation has a fifty-two week low of $715.37 and a fifty-two week high of $1,099.94. The business has a 50 day moving average price of $991.71 and a two-hundred day moving average price of $950.48. The stock has a market cap of $125.45 billion, a PE ratio of 34.93, a P/E/G ratio of 2.63 and a beta of 1.12.

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

Parker-Hannifin Announces Dividend

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

Insider Buying and Selling

In other Parker-Hannifin news, VP Berend Bracht sold 602 shares of the business’s 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 owned 4,399 shares in the company, valued at $4,577,027.53. The trade was a 12.04% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.32% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

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 report on Friday, August 7th. Wells Fargo & Company cut their target price on shares of Parker-Hannifin from $980.00 to $950.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 26th. JPMorgan Chase & Co. cut their target price on shares of Parker-Hannifin from $1,100.00 to $1,060.00 and set an “overweight” rating on the stock in a research note on Thursday, May 7th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Parker-Hannifin in a research report on Friday, July 17th. Finally, KeyCorp increased their price target on 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 investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Parker-Hannifin presently has an average rating of “Moderate Buy” and a consensus target price 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.