Sumitomo Life Insurance Co. Sells 982 Shares of Parker-Hannifin Corporation $PH

Sumitomo Life Insurance Co. trimmed its position in Parker-Hannifin Corporation (NYSE:PH) by 21.1% in the second quarter, Holdings Channel.com reports. The firm owned 3,675 shares of the industrial products company’s stock after selling 982 shares during the period. Sumitomo Life Insurance Co.’s holdings in Parker-Hannifin were worth $3,595,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in shares of Parker-Hannifin by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 11,142,535 shares of the industrial products company’s stock valued at $9,793,843,000 after purchasing an additional 33,606 shares during the last quarter. BlackRock Inc. acquired a new stake in Parker-Hannifin in the second quarter worth $10,163,362,000. Bank of America Corp DE boosted its position in shares of Parker-Hannifin by 0.6% during the fourth quarter. Bank of America Corp DE now owns 3,926,896 shares of the industrial products company’s stock worth $3,451,584,000 after purchasing an additional 22,305 shares in the last quarter. Capital World Investors grew its holdings in shares of Parker-Hannifin by 0.6% in 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 buying an additional 16,703 shares during the period. Finally, Morgan Stanley increased its position in shares of Parker-Hannifin by 1.1% in the 4th quarter. Morgan Stanley now owns 2,133,044 shares of the industrial products company’s stock valued at $1,874,862,000 after buying an additional 22,367 shares in the last quarter. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PH. BNP Paribas Exane reaffirmed an “outperform” rating and set a $1,220.00 price objective (up from $1,090.00) on shares of Parker-Hannifin in a research note on Friday, August 7th. Susquehanna boosted their price objective on shares of Parker-Hannifin from $1,100.00 to $1,250.00 and gave the company a “positive” rating in a research report on Friday, August 7th. JPMorgan Chase & Co. reduced their target price on shares of Parker-Hannifin from $1,100.00 to $1,060.00 and set an “overweight” rating for the company in a research note on Thursday, May 7th. Sanford C. Bernstein increased their target price on Parker-Hannifin from $1,037.00 to $1,218.00 and gave the stock an “outperform” rating in a report on Friday, August 14th. Finally, Stifel Nicolaus set a $1,075.00 target price on Parker-Hannifin in a research report on Friday, August 7th. Seventeen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,100.00.

Parker-Hannifin Trading Up 0.3%

NYSE PH opened at $1,002.90 on Friday. Parker-Hannifin Corporation has a 12 month low of $715.37 and a 12 month high of $1,099.94. 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 stock has a 50 day moving average of $984.42 and a 200-day moving average of $948.75. The company has a market cap of $126.46 billion, a PE ratio of 35.20, a PEG ratio of 2.60 and a beta of 1.12.

Parker-Hannifin (NYSE:PH) last released 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. The company had revenue of $5.75 billion during the quarter, compared to analysts’ expectations of $5.57 billion. Parker-Hannifin had a return on equity of 28.48% and a net margin of 16.97%.The business’s revenue was up 9.8% on a year-over-year basis. During the same period last year, the firm posted $7.69 earnings per share. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. On average, equities research analysts anticipate that Parker-Hannifin Corporation will post 34.93 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Monday, August 31st will be given 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 is Monday, August 31st. Parker-Hannifin’s dividend payout ratio is presently 28.08%.

Parker-Hannifin 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.