Tower View Wealth Management LLC Buys 1,692 Shares of Parker-Hannifin Corporation $PH

Tower View Wealth Management LLC raised its stake in shares of Parker-Hannifin Corporation (NYSE:PH) by 31.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 7,111 shares of the industrial products company’s stock after purchasing an additional 1,692 shares during the quarter. Parker-Hannifin accounts for about 2.9% of Tower View Wealth Management LLC’s investment portfolio, making the stock its 11th biggest position. Tower View Wealth Management LLC’s holdings in Parker-Hannifin were worth $6,794,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in PH. E Fund Management Co. Ltd. lifted its stake in shares of Parker-Hannifin by 2.1% in the second quarter. E Fund Management Co. Ltd. now owns 477 shares of the industrial products company’s stock valued at $467,000 after buying an additional 10 shares during the period. Optas LLC grew its position in Parker-Hannifin by 3.1% during the first quarter. Optas LLC now owns 370 shares of the industrial products company’s stock worth $331,000 after buying an additional 11 shares in the last quarter. Allen Capital Group LLC grew its position in Parker-Hannifin by 4.8% during the first quarter. Allen Capital Group LLC now owns 264 shares of the industrial products company’s stock worth $236,000 after buying an additional 12 shares in the last quarter. Doliver Advisors LP increased its stake in Parker-Hannifin by 0.6% during the second quarter. Doliver Advisors LP now owns 2,011 shares of the industrial products company’s stock valued at $1,967,000 after acquiring an additional 12 shares during the period. Finally, Bullock Wealth Management Group increased its stake in Parker-Hannifin by 1.6% during the third quarter. Bullock Wealth Management Group now owns 754 shares of the industrial products company’s stock valued at $728,000 after acquiring an additional 12 shares during the period. Institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Price Performance

NYSE:PH opened at $880.03 on Monday. 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 company has a 50-day moving average of $966.89 and a 200-day moving average of $951.31. Parker-Hannifin Corporation has a 52 week low of $755.10 and a 52 week high of $1,099.94. The company has a market capitalization of $110.98 billion, a price-to-earnings ratio of 30.89, a PEG ratio of 2.45 and a beta of 1.12.

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 analysts’ consensus estimates of $8.31 by $0.96. The business had revenue of $5.75 billion for the quarter, compared to analysts’ expectations of $5.57 billion. Parker-Hannifin had a net margin of 16.97% and a return on equity of 28.48%. The firm’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $7.69 earnings per share. 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 35.72 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 11th. Shareholders 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 yield of 0.9%. The ex-dividend date of this dividend was Monday, August 31st. Parker-Hannifin’s payout ratio is presently 28.08%.

Wall Street Analyst Weigh In

Several equities analysts have commented on PH shares. Susquehanna upped their price target on Parker-Hannifin from $1,100.00 to $1,250.00 and gave the company a “positive” rating in a report on Friday, August 7th. Evercore lifted their price objective on Parker-Hannifin from $1,064.00 to $1,217.00 and gave the stock an “outperform” rating in a report on Tuesday, August 11th. BNP Paribas Exane boosted their price objective on Parker-Hannifin from $1,220.00 to $1,270.00 and gave the company an “outperform” rating in a research report on Friday, September 18th. JPMorgan Chase & Co. lowered their price objective on Parker-Hannifin from $1,140.00 to $1,131.00 and set an “overweight” rating on the stock in a research report on Friday, October 9th. Finally, Raymond James Financial upped their target price on Parker-Hannifin from $1,050.00 to $1,250.00 and gave the company an “outperform” rating in a research note on Monday, August 10th. Eighteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Parker-Hannifin presently has a consensus rating of “Moderate Buy” and an average target price of $1,146.35.

Insiders Place Their Bets

In other news, VP Berend Bracht sold 602 shares of the company’s stock in a transaction that occurred on Wednesday, August 26th. The stock was 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 in the company, valued at approximately $4,577,027.53. This represents a 12.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.35% of the company’s stock.

About Parker-Hannifin

Parker-Hannifin Corporation is a diversified manufacturer of motion and control technologies and systems. The company serves aerospace, industrial, and other specialized markets with products designed to control the movement and flow of liquids and gases, as well as mechanical motion and power.

Its product portfolio includes hydraulic and pneumatic systems, filtration and process-control equipment, electromechanical technologies, sealing and shielding products, connectors, pumps, valves, and related components.