Tribune Investment Group LP Has $7.10 Million Holdings in Parker-Hannifin Corporation $PH

Tribune Investment Group LP lessened its position in shares of Parker-Hannifin Corporation (NYSE:PH) by 34.9% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 7,260 shares of the industrial products company’s stock after selling 3,900 shares during the quarter. Parker-Hannifin accounts for 2.9% of Tribune Investment Group LP’s portfolio, making the stock its 5th biggest holding. Tribune Investment Group LP’s holdings in Parker-Hannifin were worth $7,101,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. BlackRock Inc. purchased a new position in Parker-Hannifin in the second quarter worth about $10,163,362,000. Norges Bank bought a new stake in shares of Parker-Hannifin during the 4th quarter valued at about $1,756,230,000. Deutsche Bank AG purchased a new stake in shares of Parker-Hannifin during the 2nd quarter valued at about $987,587,000. Bank of New York Mellon Corp bought a new position in shares of Parker-Hannifin in the 2nd quarter worth approximately $712,222,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Parker-Hannifin in the 2nd quarter worth approximately $305,628,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Wall Street Analysts Forecast Growth

PH has been the subject of several recent research reports. Evercore set a $1,064.00 target price on shares of Parker-Hannifin in a research report on Monday, May 11th. Weiss Ratings reiterated a “buy (b)” rating on shares of Parker-Hannifin in a research report on Friday, July 17th. UBS Group lifted their price target on shares of Parker-Hannifin from $1,092.00 to $1,250.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. JPMorgan Chase & Co. dropped their price target on shares of Parker-Hannifin from $1,100.00 to $1,060.00 and set an “overweight” rating on the stock in a research note on Thursday, May 7th. Finally, Truist Financial boosted their price objective on shares of Parker-Hannifin from $1,269.00 to $1,358.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Seventeen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,100.00.

Parker-Hannifin Stock Up 0.1%

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

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, August 6th. The industrial products company reported $9.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.31 by $0.96. Parker-Hannifin had a net margin of 16.97% and a return on equity of 28.48%. The company had revenue of $5.75 billion during the quarter, compared to analyst estimates of $5.57 billion. During the same period in the prior year, the firm posted $7.69 EPS. 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, equities research analysts forecast that Parker-Hannifin Corporation will post 34.93 EPS for the current year.

Parker-Hannifin Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Monday, August 31st will be given a $2.00 dividend. 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 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.