Van ECK Associates Corp Increases Stock Position in Parker-Hannifin Corporation $PH

Van ECK Associates Corp raised its stake in shares of Parker-Hannifin Corporation (NYSE:PH) by 17.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 28,200 shares of the industrial products company’s stock after purchasing an additional 4,129 shares during the quarter. Van ECK Associates Corp’s holdings in Parker-Hannifin were worth $27,583,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. E Fund Management Co. Ltd. lifted its stake in Parker-Hannifin by 2.1% during the second quarter. E Fund Management Co. Ltd. now owns 477 shares of the industrial products company’s stock worth $467,000 after purchasing an additional 10 shares during the last quarter. Optas LLC increased its position in shares of Parker-Hannifin by 3.1% during the 1st quarter. Optas LLC now owns 370 shares of the industrial products company’s stock valued at $331,000 after purchasing an additional 11 shares during the last quarter. Moneta Group Investment Advisors LLC raised its holdings in shares of Parker-Hannifin by 1.8% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 614 shares of the industrial products company’s stock valued at $540,000 after buying an additional 11 shares in the last quarter. Inspire Advisors LLC raised its holdings in shares of Parker-Hannifin by 1.2% during the 4th quarter. Inspire Advisors LLC now owns 917 shares of the industrial products company’s stock valued at $807,000 after buying an additional 11 shares in the last quarter. Finally, RFG Advisory LLC lifted its position in Parker-Hannifin by 0.3% in the 1st quarter. RFG Advisory LLC now owns 3,740 shares of the industrial products company’s stock worth $3,348,000 after buying an additional 12 shares during the last quarter. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. BNP Paribas Exane reaffirmed an “outperform” rating and issued a $1,220.00 target price (up from $1,090.00) on shares of Parker-Hannifin in a research note on Friday, August 7th. KeyCorp lifted their price target on shares of Parker-Hannifin from $1,100.00 to $1,210.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Sanford C. Bernstein upped their price objective on shares of Parker-Hannifin from $1,037.00 to $1,218.00 and gave the company an “outperform” rating in a research note on Friday, August 14th. Wells Fargo & Company cut their price objective on shares of Parker-Hannifin from $980.00 to $950.00 and set an “overweight” rating for the company in a research note on Tuesday, May 26th. Finally, 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 on the stock in a report on Thursday, May 7th. Seventeen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $1,100.00.

Parker-Hannifin Trading Up 0.0%

Shares of PH stock opened at $995.24 on Monday. The business has a 50-day moving average of $991.71 and a 200 day moving average of $950.28. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.26 and a quick ratio of 0.74. 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 capitalization of $125.45 billion, a PE ratio of 34.93, a P/E/G ratio of 2.59 and a beta of 1.12.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings results on Thursday, August 6th. The industrial products company reported $9.27 EPS for the quarter, topping analysts’ consensus estimates of $8.31 by $0.96. The business had revenue of $5.75 billion for the quarter, compared to analysts’ expectations of $5.57 billion. Parker-Hannifin had a return on equity of 28.48% and a net margin of 16.97%.The business’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the firm earned $7.69 EPS. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. As a group, sell-side analysts anticipate that Parker-Hannifin Corporation will post 34.93 earnings per share for the current year.

Parker-Hannifin Announces Dividend

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

Insider Buying and Selling

In related news, VP Berend Bracht sold 602 shares of the company’s stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $1,040.47, for a total transaction of $626,362.94. Following the completion of the sale, the vice president directly owned 4,399 shares in the company, valued at $4,577,027.53. This represents a 12.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.32% of the stock is owned by corporate insiders.

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.