Empowered Funds LLC Buys Shares of 24,163 Parker-Hannifin Corporation $PH

Empowered Funds LLC purchased a new position in Parker-Hannifin Corporation (NYSE:PH) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 24,163 shares of the industrial products company’s stock, valued at approximately $23,634,000.

A number of other institutional investors have also made changes to their positions in the stock. BlackRock Inc. acquired a new position in Parker-Hannifin in the second quarter valued at about $10,163,362,000. Bank of America Corp DE bought a new position in Parker-Hannifin during the second quarter worth about $3,273,507,000. Norges Bank acquired a new position in shares of Parker-Hannifin during the 4th quarter worth about $1,756,230,000. Deutsche Bank AG bought a new stake in shares of Parker-Hannifin in the 2nd quarter valued at about $987,587,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Parker-Hannifin in the 2nd quarter valued at about $712,222,000. 82.44% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Truist Financial lifted their price objective on shares of Parker-Hannifin from $1,269.00 to $1,358.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Evercore set a $1,064.00 target price on shares of Parker-Hannifin in a report on Monday, May 11th. Weiss Ratings reissued a “buy (b)” rating on shares of Parker-Hannifin in a research report on Friday, July 17th. UBS Group boosted their price target on shares of Parker-Hannifin from $1,092.00 to $1,250.00 and gave the company a “buy” rating in a report on Friday, August 7th. Finally, Wells Fargo & Company lowered their price objective on shares of Parker-Hannifin from $980.00 to $950.00 and set an “overweight” rating for the company in a research report on Tuesday, May 26th. Seventeen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Parker-Hannifin currently has a consensus rating of “Moderate Buy” and an average target price of $1,100.00.

Parker-Hannifin Price Performance

NYSE PH opened at $1,010.69 on Friday. The business has a 50 day simple moving average of $990.89 and a 200 day simple moving average of $950.16. Parker-Hannifin Corporation has a 52-week low of $715.37 and a 52-week high of $1,099.94. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.74 and a current ratio of 1.26. The stock has a market cap of $127.40 billion, a price-to-earnings ratio of 35.48, a PEG ratio of 2.71 and a beta of 1.12.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings results on Thursday, August 6th. The industrial products company reported $9.27 earnings per share 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 net margin of 16.97% and a return on equity of 28.48%. The business’s revenue was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $7.69 earnings per share. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. Analysts anticipate that Parker-Hannifin Corporation will post 34.93 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

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