CoreCap Advisors LLC Purchases 751 Shares of Parker-Hannifin Corporation $PH

CoreCap Advisors LLC increased its position in shares of Parker-Hannifin Corporation (NYSE:PH) by 11.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,466 shares of the industrial products company’s stock after purchasing an additional 751 shares during the quarter. CoreCap Advisors LLC’s holdings in Parker-Hannifin were worth $7,133,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in PH. BlackRock Inc. purchased a new position in Parker-Hannifin in the 2nd quarter valued at $10,163,362,000. State Street Corp raised its position in shares of Parker-Hannifin by 0.5% in the second quarter. State Street Corp now owns 9,385,389 shares of the industrial products company’s stock valued at $9,180,037,000 after buying an additional 42,548 shares during the last quarter. Bank of America Corp DE purchased a new position in shares of Parker-Hannifin in the second quarter worth about $3,273,507,000. Nuveen LLC lifted its stake in shares of Parker-Hannifin by 7.4% in the fourth quarter. Nuveen LLC now owns 1,367,683 shares of the industrial products company’s stock worth $1,202,139,000 after buying an additional 94,343 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Parker-Hannifin by 2.5% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,032,942 shares of the industrial products company’s stock worth $1,010,341,000 after acquiring an additional 25,167 shares during the last quarter. 82.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PH has been the subject of several research reports. UBS Group upped their price objective on shares of Parker-Hannifin from $1,092.00 to $1,250.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Weiss Ratings restated a “buy (b)” rating on shares of Parker-Hannifin in a report on Friday, July 17th. Citigroup upped their price target on Parker-Hannifin from $1,141.00 to $1,232.00 and gave the company a “buy” rating in a research report on Friday, August 7th. BNP Paribas Exane reaffirmed an “outperform” rating and issued a $1,220.00 price target (up from $1,090.00) on shares of Parker-Hannifin in a report on Friday, August 7th. Finally, Wall Street Zen downgraded Parker-Hannifin from a “buy” rating to a “hold” rating in a research report on Saturday, August 22nd. Sixteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Parker-Hannifin presently has an average rating of “Moderate Buy” and an average target price of $1,119.55.

Parker-Hannifin Trading Down 0.7%

PH stock traded down $6.34 during trading on Thursday, reaching $946.45. 543,364 shares of the stock were exchanged, compared to its average volume of 690,680. The company has a current ratio of 1.26, a quick ratio of 0.74 and a debt-to-equity ratio of 0.44. The business has a 50 day moving average price of $987.62 and a 200-day moving average price of $947.74. 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 capitalization of $119.36 billion, a price-to-earnings ratio of 33.22, a P/E/G ratio of 3.02 and a beta of 1.12.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings results on Thursday, August 6th. The industrial products company reported $9.27 earnings per share for the quarter, beating the consensus estimate of $8.31 by $0.96. The business had revenue of $5.75 billion during the quarter, compared to analysts’ expectations of $5.57 billion. Parker-Hannifin had a net margin of 16.97% and a return on equity of 28.48%. The business’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $7.69 EPS. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. On average, research analysts predict that Parker-Hannifin Corporation will post 35.02 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 11th. Investors of record on Monday, August 31st were issued a $2.00 dividend. The ex-dividend date was Monday, August 31st. This represents a $8.00 dividend on an annualized basis and a yield of 0.8%. Parker-Hannifin’s dividend payout ratio is currently 28.08%.

Insiders Place Their Bets

In other Parker-Hannifin news, VP Berend Bracht sold 602 shares of the firm’s stock in a transaction on Wednesday, August 26th. The stock was 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 owned 4,399 shares of the company’s stock, valued at $4,577,027.53. This trade represents a 12.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.35% of the company’s stock.

About Parker-Hannifin

Parker-Hannifin Corporation is a diversified manufacturer of motion and control technologies. The company develops and produces components and systems that manage the movement and control of liquids, gases and mechanical force across industrial, mobile and aerospace applications.

Its product portfolio includes hydraulic and pneumatic systems, electromechanical technologies, filtration and fluid-management equipment, seals and shielding products, connectors, pumps, valves, sensors, thermal-management solutions and related engineered systems.