Van ECK Associates Corp Grows Stake in Parker-Hannifin Corporation $PH

Van ECK Associates Corp grew its holdings in shares of Parker-Hannifin Corporation (NYSE:PH) by 17.2% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 28,200 shares of the industrial products company’s stock after acquiring an additional 4,129 shares during the quarter. Van ECK Associates Corp’s holdings in Parker-Hannifin were worth $27,583,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Fideuram Asset Management Ireland dac purchased a new position in shares of Parker-Hannifin during the 4th quarter worth approximately $1,253,000. Truist Financial Corp lifted its stake in shares of Parker-Hannifin by 2.7% in the 4th quarter. Truist Financial Corp now owns 174,852 shares of the industrial products company’s stock valued at $153,687,000 after purchasing an additional 4,673 shares during the period. Shepherd Street Advisors LLC bought a new stake in shares of Parker-Hannifin during the fourth quarter valued at approximately $1,736,000. BNP Paribas boosted its position in shares of Parker-Hannifin by 4.1% during the second quarter. BNP Paribas now owns 54,208 shares of the industrial products company’s stock valued at $52,717,000 after purchasing an additional 2,121 shares in the last quarter. Finally, Jefferies Financial Group Inc. bought a new stake in shares of Parker-Hannifin during the fourth quarter valued at approximately $11,434,000. Institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Stock Up 0.0%

PH stock opened at $995.24 on Monday. Parker-Hannifin Corporation has a twelve month low of $715.37 and a twelve month high of $1,099.94. 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 has a market cap of $125.45 billion, a PE ratio of 34.93, a price-to-earnings-growth ratio of 2.59 and a beta of 1.12. The business has a 50 day moving average of $991.71 and a 200 day moving average of $950.28.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, August 6th. The industrial products company reported $9.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.31 by $0.96. Parker-Hannifin had a return on equity of 28.48% and a net margin of 16.97%.The business had revenue of $5.75 billion during the quarter, compared to analysts’ expectations of $5.57 billion. During the same quarter in the previous year, the business earned $7.69 earnings per share. The firm’s quarterly revenue 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. On average, research analysts forecast that Parker-Hannifin Corporation will post 34.93 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Monday, August 31st will be given a $2.00 dividend. This represents a $8.00 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Monday, August 31st. Parker-Hannifin’s payout ratio is currently 28.08%.

Analyst Ratings Changes

A number of equities analysts have issued reports on PH shares. Truist Financial increased their price objective on Parker-Hannifin from $1,269.00 to $1,358.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Wall Street Zen cut shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a report on Saturday, August 22nd. Sanford C. Bernstein upped their target price on shares of Parker-Hannifin from $1,037.00 to $1,218.00 and gave the stock an “outperform” rating in a research report on Friday, August 14th. BMO Capital Markets reiterated an “outperform” rating and issued a $1,214.00 price target on shares of Parker-Hannifin in a research note on Friday, August 7th. Finally, UBS Group lifted their price target on shares of Parker-Hannifin from $1,092.00 to $1,250.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Seventeen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Parker-Hannifin currently has an average rating of “Moderate Buy” and an average target price of $1,100.00.

Insider Activity

In related 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 transaction, the vice president owned 4,399 shares in the company, valued at $4,577,027.53. The trade was a 12.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.32% of the stock is currently owned by corporate insiders.

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.