173,486 Shares in Parker-Hannifin Corporation $PH Purchased by Corient Private Wealth LP

Corient Private Wealth LP acquired a new position in shares of Parker-Hannifin Corporation (NYSE:PH) in the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 173,486 shares of the industrial products company’s stock, valued at approximately $169,690,000.

A number of other hedge funds have also made changes to their positions in the company. Perennial Investment Advisors LLC acquired a new stake in shares of Parker-Hannifin in the second quarter worth approximately $362,000. Pingora Partners LLC acquired a new position in Parker-Hannifin in the 2nd quarter valued at $54,000. Ascent Advisors LLC acquired a new position in Parker-Hannifin in the 2nd quarter valued at $309,000. Ausdal Financial Partners Inc. purchased a new position in Parker-Hannifin in the 2nd quarter valued at $228,000. Finally, Bank of America Corp DE purchased a new position in Parker-Hannifin in the 2nd quarter valued at $3,273,507,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Stock Performance

NYSE PH opened at $1,040.76 on Thursday. 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 stock’s fifty day moving average is $989.76 and its two-hundred day moving average is $949.93. The firm has a market capitalization of $131.19 billion, a P/E ratio of 36.53, a price-to-earnings-growth ratio of 2.65 and a beta of 1.12. 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 issued its earnings results on Thursday, August 6th. The industrial products company reported $9.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.31 by $0.96. Parker-Hannifin had a return on equity of 28.48% and a net margin of 16.97%.The business had revenue of $5.75 billion during the quarter, compared to the consensus estimate of $5.57 billion. During the same period last year, the company earned $7.69 EPS. The company’s revenue for the quarter 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, research analysts anticipate that Parker-Hannifin Corporation will post 34.93 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

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

Analyst Upgrades and Downgrades

PH has been the subject of a number of research reports. Mizuho set a $1,050.00 target price on shares of Parker-Hannifin in a report on Friday, May 1st. BMO Capital Markets reissued an “outperform” rating and issued a $1,214.00 price target on shares of Parker-Hannifin in a research note on Friday, August 7th. Sanford C. Bernstein boosted their price target on shares of 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. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Parker-Hannifin in a research note on Friday, July 17th. Finally, KeyCorp upped their price objective on shares of Parker-Hannifin from $1,100.00 to $1,210.00 and gave the company an “overweight” rating 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. According to data from MarketBeat.com, the stock currently 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.