Coastal Bridge Advisors LLC Acquires New Shares in Parker-Hannifin Corporation $PH

Coastal Bridge Advisors LLC acquired a new position in Parker-Hannifin Corporation (NYSE:PH) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 903 shares of the industrial products company’s stock, valued at approximately $883,000.

Several other hedge funds have also recently bought and sold shares of PH. Texas Capital Bancshares Inc TX acquired a new stake in shares of Parker-Hannifin in the third quarter worth about $25,000. HFM Investment Advisors LLC increased its holdings in shares of Parker-Hannifin by 1,000.0% during the 4th quarter. HFM Investment Advisors LLC now owns 33 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 30 shares during the last quarter. Lloyd Advisory Services LLC. bought a new position in shares of Parker-Hannifin in the 4th quarter valued at approximately $31,000. NFSG Corp raised its stake in shares of Parker-Hannifin by 94.4% in the 1st quarter. NFSG Corp now owns 35 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 17 shares in the last quarter. Finally, First Command Advisory Services Inc. lifted its holdings in Parker-Hannifin by 1,133.3% in the 4th quarter. First Command Advisory Services Inc. now owns 37 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 34 shares during the last quarter. 82.44% of the stock is owned by institutional investors and hedge funds.

Parker-Hannifin Price Performance

Shares of NYSE:PH opened at $1,010.69 on Friday. The company has a market cap of $127.40 billion, a price-to-earnings ratio of 35.48, a PEG ratio of 2.71 and a beta of 1.12. The business has a 50 day moving average price of $990.89 and a 200 day moving average price of $950.16. 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 twelve month low of $715.37 and a twelve month high of $1,099.94.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings results on Thursday, August 6th. The industrial products company reported $9.27 EPS for the quarter, topping the consensus estimate of $8.31 by $0.96. Parker-Hannifin had a return on equity of 28.48% and a net margin of 16.97%.The company had revenue of $5.75 billion for the quarter, compared to the consensus estimate of $5.57 billion. During the same period in the previous year, the business posted $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. Research analysts predict that Parker-Hannifin Corporation will post 34.93 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Monday, August 31st. This represents a $8.00 dividend on an annualized basis and a yield of 0.8%. Parker-Hannifin’s payout ratio is 28.08%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on PH shares. Stifel Nicolaus set a $1,075.00 target price on Parker-Hannifin in a research report on Friday, August 7th. Mizuho set a $1,050.00 price target on shares of Parker-Hannifin in a research report on Friday, May 1st. BNP Paribas Exane restated an “outperform” rating and issued a $1,220.00 price objective (up from $1,090.00) on shares of Parker-Hannifin in a research note on Friday, August 7th. Susquehanna upped their price objective on shares of Parker-Hannifin from $1,100.00 to $1,250.00 and gave the stock a “positive” rating in a report on Friday, August 7th. Finally, Sanford C. Bernstein raised their target price 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. Seventeen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Parker-Hannifin presently has an average rating of “Moderate Buy” and an average target price of $1,100.00.

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.