OMERS ADMINISTRATION Corp Sells 55,746 Shares of Parker-Hannifin Corporation $PH

OMERS ADMINISTRATION Corp lowered its stake in shares of Parker-Hannifin Corporation (NYSE:PH) by 60.9% during the second quarter, Holdings Channel.com reports. The institutional investor owned 35,777 shares of the industrial products company’s stock after selling 55,746 shares during the quarter. OMERS ADMINISTRATION Corp’s holdings in Parker-Hannifin were worth $34,994,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Fideuram Asset Management Ireland dac bought a new stake in shares of Parker-Hannifin during the fourth quarter worth $1,253,000. Truist Financial Corp raised its holdings in Parker-Hannifin by 2.7% during the fourth quarter. Truist Financial Corp now owns 174,852 shares of the industrial products company’s stock worth $153,687,000 after acquiring an additional 4,673 shares in the last quarter. Shepherd Street Advisors LLC bought a new stake in shares of Parker-Hannifin during the 4th quarter worth approximately $1,736,000. Jefferies Financial Group Inc. acquired a new stake in Parker-Hannifin in the fourth quarter valued at $11,434,000. Finally, Horizon Investments LLC lifted its stake in Parker-Hannifin by 78.8% in the 4th quarter. Horizon Investments LLC now owns 8,829 shares of the industrial products company’s stock valued at $7,760,000 after purchasing an additional 3,892 shares during the last quarter. Institutional investors own 82.44% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on PH shares. Citigroup upped their price objective on Parker-Hannifin from $1,141.00 to $1,232.00 and gave the company a “buy” rating in a research note on Friday, August 7th. BNP Paribas Exane reissued an “outperform” rating and set a $1,220.00 target price (up from $1,090.00) on shares of Parker-Hannifin in a report on Friday, August 7th. Wall Street Zen cut Parker-Hannifin from a “buy” rating to a “hold” rating in a research note on Saturday. BMO Capital Markets reaffirmed an “outperform” rating and set a $1,214.00 price objective on shares of Parker-Hannifin in a research report on Friday, August 7th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Parker-Hannifin in a report on Friday, July 17th. Seventeen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,100.00.

Parker-Hannifin Price Performance

Shares of NYSE PH opened at $1,002.90 on Monday. The firm has a market cap of $126.46 billion, a P/E ratio of 35.20, a price-to-earnings-growth ratio of 2.61 and a beta of 1.12. The business’s 50 day moving average is $984.42 and its 200-day moving average is $948.72. The company has a current ratio of 1.26, a quick ratio of 0.74 and a debt-to-equity ratio of 0.44. Parker-Hannifin Corporation has a 1-year low of $715.37 and a 1-year high of $1,099.94.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings data on Thursday, August 6th. The industrial products company reported $9.27 EPS for the quarter, beating analysts’ consensus estimates of $8.31 by $0.96. The firm 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 revenue for the quarter was up 9.8% on a year-over-year basis. During the same period in the prior year, the firm posted $7.69 EPS. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. Equities research analysts predict that Parker-Hannifin Corporation will post 34.93 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

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

Parker-Hannifin Company 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.