Glenview Trust Co Purchases Shares of 3,271 Parker-Hannifin Corporation $PH

Glenview Trust Co bought a new stake in Parker-Hannifin Corporation (NYSE:PH) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 3,271 shares of the industrial products company’s stock, valued at approximately $3,199,000.

A number of other large investors have also recently bought and sold shares of PH. Brighton Jones LLC boosted its stake in shares of Parker-Hannifin by 5.9% during the 4th quarter. Brighton Jones LLC now owns 1,808 shares of the industrial products company’s stock worth $1,150,000 after purchasing an additional 101 shares during the last quarter. Bison Wealth LLC raised its position in shares of Parker-Hannifin by 4.5% in the fourth quarter. Bison Wealth LLC now owns 749 shares of the industrial products company’s stock valued at $476,000 after buying an additional 32 shares during the last quarter. Empowered Funds LLC raised its position in shares of Parker-Hannifin by 0.5% in the first quarter. Empowered Funds LLC now owns 2,894 shares of the industrial products company’s stock valued at $1,759,000 after buying an additional 15 shares during the last quarter. Acadian Asset Management LLC lifted its stake in shares of Parker-Hannifin by 26.2% during the first quarter. Acadian Asset Management LLC now owns 799 shares of the industrial products company’s stock valued at $484,000 after buying an additional 166 shares during the period. Finally, Sivia Capital Partners LLC lifted its stake in shares of Parker-Hannifin by 3.6% during the second quarter. Sivia Capital Partners LLC now owns 430 shares of the industrial products company’s stock valued at $300,000 after buying an additional 15 shares during the period. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Stock Performance

Shares of PH stock opened at $1,010.69 on Friday. 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 company has a market cap of $127.40 billion, a PE ratio of 35.48, a P/E/G ratio of 2.71 and a beta of 1.12. The company’s fifty day simple moving average is $990.89 and its 200-day simple moving average is $950.16. Parker-Hannifin Corporation has a 52 week low of $715.37 and a 52 week high of $1,099.94.

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

Parker-Hannifin Dividend Announcement

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

Wall Street Analysts Forecast Growth

PH has been the subject of several recent analyst reports. BMO Capital Markets reaffirmed an “outperform” rating and issued a $1,214.00 target price on shares of Parker-Hannifin in a research note on Friday, August 7th. UBS Group increased their price target on Parker-Hannifin from $1,092.00 to $1,250.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Sanford C. Bernstein lifted their price objective on Parker-Hannifin from $1,037.00 to $1,218.00 and gave the company an “outperform” rating in a research report on Friday, August 14th. Mizuho set a $1,050.00 target price on Parker-Hannifin in a research note on Friday, May 1st. Finally, Wells Fargo & Company reduced their target price on Parker-Hannifin from $980.00 to $950.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 26th. 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.com, the company presently has an average rating of “Moderate Buy” and a consensus price target 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.