Coastal Bridge Advisors LLC Purchases New Holdings in Parker-Hannifin Corporation $PH

Coastal Bridge Advisors LLC purchased a new stake in Parker-Hannifin Corporation (NYSE:PH) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 903 shares of the industrial products company’s stock, valued at approximately $883,000.

Other institutional investors also recently modified their holdings of the company. Texas Capital Bancshares Inc TX acquired a new position in shares of Parker-Hannifin in the third quarter valued at $25,000. HFM Investment Advisors LLC lifted its position in Parker-Hannifin by 1,000.0% in the fourth quarter. HFM Investment Advisors LLC now owns 33 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 30 shares during the period. Lloyd Advisory Services LLC. acquired a new stake in Parker-Hannifin during the fourth quarter worth $31,000. NFSG Corp boosted its stake in Parker-Hannifin by 94.4% during the first quarter. NFSG Corp now owns 35 shares of the industrial products company’s stock worth $31,000 after buying an additional 17 shares in the last quarter. Finally, First Command Advisory Services Inc. increased 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 valued at $33,000 after buying an additional 34 shares during the period. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Stock Performance

Parker-Hannifin stock opened at $1,010.69 on Friday. The firm has a market capitalization of $127.40 billion, a P/E ratio of 35.48, a P/E/G ratio of 2.71 and a beta of 1.12. The stock has a fifty day moving average price of $990.89 and a two-hundred day moving average price of $950.16. Parker-Hannifin Corporation has a 52-week low of $715.37 and a 52-week high of $1,099.94. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.26 and a quick ratio of 0.74.

Parker-Hannifin (NYSE:PH) last issued 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. Parker-Hannifin had a net margin of 16.97% and a return on equity of 28.48%. The company had revenue of $5.75 billion for the quarter, compared to the consensus estimate of $5.57 billion. During the same quarter in the previous year, the company earned $7.69 EPS. The firm’s revenue for the quarter was up 9.8% compared to the same quarter last year. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. As a group, analysts anticipate that Parker-Hannifin Corporation will post 34.93 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Monday, August 31st will be given a $2.00 dividend. The ex-dividend date 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%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on PH shares. 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. Wall Street Zen lowered shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a research report on Saturday, August 22nd. Evercore set a $1,064.00 target price on shares of Parker-Hannifin in a research note on Monday, May 11th. Weiss Ratings reissued a “buy (b)” rating on shares of Parker-Hannifin in a research report on Friday, July 17th. Finally, Stifel Nicolaus set a $1,075.00 price target on shares of Parker-Hannifin 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’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target 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.