Parker-Hannifin Corporation $PH Shares Acquired by Groupe la Francaise

Groupe la Francaise increased its holdings in shares of Parker-Hannifin Corporation (NYSE:PH) by 41.8% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 58,616 shares of the industrial products company’s stock after purchasing an additional 17,275 shares during the quarter. Groupe la Francaise’s holdings in Parker-Hannifin were worth $57,350,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of PH. California State Teachers Retirement System boosted its position in Parker-Hannifin by 96,423.1% during the 2nd quarter. California State Teachers Retirement System now owns 184,153,587 shares of the industrial products company’s stock worth $180,124,307,000 after purchasing an additional 183,962,800 shares during the period. BlackRock Inc. purchased a new position in Parker-Hannifin in the second quarter valued at about $10,163,362,000. Bank of America Corp DE purchased a new position in Parker-Hannifin in the second quarter valued at about $3,273,507,000. Norges Bank acquired a new position in shares of Parker-Hannifin during the fourth quarter worth about $1,756,230,000. Finally, Deutsche Bank AG purchased a new stake in shares of Parker-Hannifin in the second quarter worth about $987,587,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Stock Performance

Shares of Parker-Hannifin stock opened at $962.40 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. Parker-Hannifin Corporation has a 1 year low of $715.37 and a 1 year high of $1,099.94. The firm’s 50-day simple moving average is $991.22 and its 200-day simple moving average is $949.13. The firm has a market cap of $121.31 billion, a PE ratio of 33.78, a price-to-earnings-growth ratio of 2.62 and a beta of 1.13.

Parker-Hannifin (NYSE:PH) last issued its earnings results on Thursday, August 6th. The industrial products company reported $9.27 EPS for the quarter, topping the consensus estimate of $8.31 by $0.96. Parker-Hannifin had a return on equity of 28.48% and a net margin of 16.97%.The company had revenue of $5.75 billion during the quarter, compared to analyst estimates of $5.57 billion. During the same quarter last year, the firm earned $7.69 EPS. The business’s revenue was up 9.8% on a year-over-year basis. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. Equities analysts forecast that Parker-Hannifin Corporation will post 34.96 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

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

Wall Street Analyst Weigh In

PH has been the topic of several analyst reports. Citigroup raised their target price on Parker-Hannifin from $1,141.00 to $1,232.00 and gave the company a “buy” rating in a report on Friday, August 7th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Parker-Hannifin in a research report on Friday, July 17th. BNP Paribas Exane reiterated 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. Sanford C. Bernstein boosted 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. Finally, Wall Street Zen downgraded shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a research note on Saturday, August 22nd. Seventeen investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $1,114.55.

Insider Activity

In related news, VP Berend Bracht sold 602 shares of Parker-Hannifin stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $1,040.47, for a total transaction of $626,362.94. Following the sale, the vice president directly owned 4,399 shares in the company, valued at $4,577,027.53. The trade was a 12.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.32% of the company’s stock.

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.