Hayek Kallen Investment Management Acquires Shares of 725 Parker-Hannifin Corporation $PH

Hayek Kallen Investment Management bought a new position in shares of Parker-Hannifin Corporation (NYSE:PH) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 725 shares of the industrial products company’s stock, valued at approximately $709,000.

Other institutional investors have also recently made changes to their positions in the company. Equitable Holdings Inc. bought a new stake in shares of Parker-Hannifin during the second quarter valued at approximately $5,415,000. Centaurus Financial Inc. purchased a new stake in Parker-Hannifin in the second quarter worth $903,000. Pacific Heights Asset Management LLC bought a new position in Parker-Hannifin in the second quarter worth $63,578,000. Coastal Bridge Advisors LLC purchased a new position in Parker-Hannifin during the second quarter valued at $883,000. Finally, Jefferies Financial Group Inc. purchased a new position in Parker-Hannifin during the second quarter valued at $39,154,000. Institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Trading Down 2.8%

Parker-Hannifin stock opened at $1,010.69 on Friday. 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 business’s fifty day simple moving average is $990.89 and its two-hundred day simple moving average is $950.16. Parker-Hannifin Corporation has a 12 month low of $715.37 and a 12 month high of $1,099.94. The company has a market capitalization of $127.40 billion, a price-to-earnings ratio of 35.48, a price-to-earnings-growth ratio of 2.71 and a beta of 1.12.

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

Parker-Hannifin Dividend Announcement

The company 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 dividend of $2.00 per share. 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 dividend payout ratio is 28.08%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on PH shares. Sanford C. Bernstein upped 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. BMO Capital Markets reissued an “outperform” rating and set a $1,214.00 price target on shares of Parker-Hannifin in a research report on Friday, August 7th. KeyCorp boosted their price objective on shares of Parker-Hannifin from $1,100.00 to $1,210.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. JPMorgan Chase & Co. cut their price objective on shares of Parker-Hannifin from $1,100.00 to $1,060.00 and set an “overweight” rating on the stock in a report on Thursday, May 7th. 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 equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $1,100.00.

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.