Parker-Hannifin Corporation $PH Stock Acquired by CX Institutional

CX Institutional boosted its position in Parker-Hannifin Corporation (NYSE:PH) by 159.9% during the third quarter, Holdings Channel.com reports. The fund owned 11,886 shares of the industrial products company’s stock after acquiring an additional 7,312 shares during the period. CX Institutional’s holdings in Parker-Hannifin were worth $11,356,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. purchased a new stake in shares of Parker-Hannifin during the second quarter worth about $10,163,362,000. State Street Corp increased its holdings in Parker-Hannifin by 0.5% during the 2nd quarter. State Street Corp now owns 9,385,389 shares of the industrial products company’s stock valued at $9,180,037,000 after purchasing an additional 42,548 shares during the period. Bank of America Corp DE bought a new position in Parker-Hannifin during the 2nd quarter valued at approximately $3,273,507,000. Capital World Investors raised its position in Parker-Hannifin by 0.6% during the 4th quarter. Capital World Investors now owns 2,600,844 shares of the industrial products company’s stock valued at $2,286,038,000 after purchasing an additional 16,703 shares during the last quarter. Finally, Nuveen LLC lifted its holdings in Parker-Hannifin by 7.4% in the 4th 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 during the period. 82.44% of the stock is owned by institutional investors.

Insider Activity at Parker-Hannifin

In other news, VP Berend Bracht sold 602 shares of the company’s stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $1,040.47, for a total value of $626,362.94. Following the sale, the vice president directly owned 4,399 shares of the company’s stock, valued at $4,577,027.53. This represents a 12.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.35% of the company’s stock.

Parker-Hannifin Stock Up 0.8%

Shares of NYSE:PH traded up $7.76 during trading on Friday, hitting $973.64. The stock had a trading volume of 344,618 shares, compared to its average volume of 696,271. The company has a market capitalization of $122.79 billion, a PE ratio of 34.17, a PEG ratio of 2.97 and a beta of 1.12. The company has a quick ratio of 0.74, a current ratio of 1.26 and a debt-to-equity ratio of 0.44. The firm’s fifty day moving average is $988.24 and its 200 day moving average is $945.71. Parker-Hannifin Corporation has a 12 month low of $715.37 and a 12 month high of $1,099.94.

Parker-Hannifin (NYSE:PH) last released 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 company had revenue of $5.75 billion for the quarter, compared to analyst estimates of $5.57 billion. Parker-Hannifin had a return on equity of 28.48% and a net margin of 16.97%.The firm’s revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the company posted $7.69 earnings per share. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. Analysts anticipate that Parker-Hannifin Corporation will post 35.02 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

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

Analyst Ratings Changes

Several research firms have recently issued reports on PH. Weiss Ratings reissued a “buy (b)” rating on shares of Parker-Hannifin in a research note on Friday, July 17th. Citigroup raised their price target on Parker-Hannifin from $1,141.00 to $1,232.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. BNP Paribas Exane reiterated 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. Sanford C. Bernstein boosted their price objective on shares of 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. Finally, Stifel Nicolaus set a $1,075.00 price objective on shares of Parker-Hannifin in a report on Friday, August 7th. Sixteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $1,119.55.

Parker-Hannifin Company Profile

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.