Parker-Hannifin Corporation $PH Shares Purchased by Turtle Creek Wealth Advisors LLC

Turtle Creek Wealth Advisors LLC boosted its position in shares of Parker-Hannifin Corporation (NYSE:PH) by 4.9% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 14,330 shares of the industrial products company’s stock after acquiring an additional 668 shares during the quarter. Turtle Creek Wealth Advisors LLC’s holdings in Parker-Hannifin were worth $13,691,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in PH. Proficio Capital Partners LLC raised its stake in shares of Parker-Hannifin by 234.0% during the 2nd quarter. Proficio Capital Partners LLC now owns 1,954 shares of the industrial products company’s stock worth $1,911,000 after buying an additional 1,369 shares during the period. BNP Paribas lifted its stake in shares of Parker-Hannifin by 4.1% in the second quarter. BNP Paribas now owns 54,208 shares of the industrial products company’s stock worth $52,717,000 after buying an additional 2,121 shares in the last quarter. Integrated Wealth Concepts LLC grew its stake in Parker-Hannifin by 86.1% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 3,503 shares of the industrial products company’s stock valued at $3,426,000 after acquiring an additional 1,621 shares in the last quarter. Rakuten Investment Management Inc. acquired a new stake in Parker-Hannifin in the 2nd quarter valued at about $19,883,000. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Parker-Hannifin by 6.8% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 46,177 shares of the industrial products company’s stock worth $45,167,000 after purchasing an additional 2,955 shares during the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Insider Buying and Selling

In other Parker-Hannifin 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 of the company’s stock, valued at $4,577,027.53. This represents a 12.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.35% of the stock is owned by insiders.

Parker-Hannifin Trading Down 0.4%

PH stock traded down $4.13 during midday trading on Thursday, hitting $952.19. 306,525 shares of the company’s stock were exchanged, compared to its average volume of 683,938. Parker-Hannifin Corporation has a 1-year low of $721.17 and a 1-year 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 market capitalization of $120.08 billion, a PE ratio of 33.42, a P/E/G ratio of 2.69 and a beta of 1.12. The business has a 50-day simple moving average of $984.57 and a two-hundred day simple moving average of $949.37.

Parker-Hannifin (NYSE:PH) last announced its quarterly 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. The business had revenue of $5.75 billion for the quarter, compared to analyst estimates of $5.57 billion. Parker-Hannifin had a return on equity of 28.48% and a net margin of 16.97%. The company’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $7.69 EPS. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. On average, sell-side analysts predict that Parker-Hannifin Corporation will post 35.29 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 11th. Investors of record on Monday, August 31st were issued a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 0.8%. The ex-dividend date was Monday, August 31st. Parker-Hannifin’s payout ratio is 28.08%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Susquehanna increased 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. BNP Paribas Exane upped their target price on Parker-Hannifin from $1,220.00 to $1,270.00 and gave the company an “outperform” rating in a report on Friday, September 18th. UBS Group set a $950.00 target price on Parker-Hannifin in a research note on Wednesday. Truist Financial lifted their price target 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. Finally, KeyCorp boosted their price target on shares of Parker-Hannifin from $1,100.00 to $1,210.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Eighteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $1,149.52.

About Parker-Hannifin

Parker-Hannifin Corporation is a diversified manufacturer of motion and control technologies. The company develops and produces components and systems that manage the movement and control of liquids, gases and mechanical force across industrial, mobile and aerospace applications.

Its product portfolio includes hydraulic and pneumatic systems, electromechanical technologies, filtration and fluid-management equipment, seals and shielding products, connectors, pumps, valves, sensors, thermal-management solutions and related engineered systems.