Gamco Investors INC. ET AL Raises Position in Parker-Hannifin Corporation $PH

Gamco Investors INC. ET AL grew its position in shares of Parker-Hannifin Corporation (NYSE:PH) by 43.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,654 shares of the industrial products company’s stock after buying an additional 802 shares during the quarter. Gamco Investors INC. ET AL’s holdings in Parker-Hannifin were worth $2,596,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in Parker-Hannifin in the 2nd quarter valued at approximately $10,163,362,000. Norges Bank bought a new stake in shares of Parker-Hannifin in the 4th quarter worth $1,756,230,000. Deutsche Bank AG purchased a new position in shares of Parker-Hannifin in the second quarter worth $987,587,000. Bank of New York Mellon Corp purchased a new stake in shares of Parker-Hannifin during the second quarter valued at $712,222,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Parker-Hannifin in the 2nd quarter worth about $305,628,000. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Parker-Hannifin Stock Up 0.3%

PH opened at $1,002.90 on Friday. The stock has a market cap of $126.46 billion, a price-to-earnings ratio of 35.20, a price-to-earnings-growth ratio of 2.61 and a beta of 1.12. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.74 and a current ratio of 1.26. The firm’s fifty day moving average is $984.42 and its 200 day moving average is $948.75. Parker-Hannifin Corporation has a fifty-two week low of $715.37 and a fifty-two week high of $1,099.94.

Parker-Hannifin (NYSE:PH) last posted its 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. 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 during the quarter, compared to analysts’ expectations of $5.57 billion. During the same period last year, the company posted $7.69 earnings per share. Parker-Hannifin’s quarterly revenue was up 9.8% on a year-over-year basis. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. On average, sell-side analysts forecast that Parker-Hannifin Corporation will post 34.93 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

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 $2.00 dividend. 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 dividend payout ratio (DPR) is 28.08%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Sanford C. Bernstein boosted their target price on Parker-Hannifin from $1,037.00 to $1,218.00 and gave the stock an “outperform” rating in a research report on Friday, August 14th. Wells Fargo & Company dropped their price target 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. BMO Capital Markets reiterated an “outperform” rating and issued a $1,214.00 price target on shares of Parker-Hannifin in a research note on Friday, August 7th. JPMorgan Chase & Co. lowered their price objective on shares of Parker-Hannifin from $1,100.00 to $1,060.00 and set an “overweight” rating on the stock in a research report on Thursday, May 7th. Finally, Truist Financial lifted their target price on shares of Parker-Hannifin from $1,269.00 to $1,358.00 and gave the stock a “buy” rating in a research 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 stock. Based on data from MarketBeat, Parker-Hannifin currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,100.00.

Parker-Hannifin 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.