Livforsakringsbolaget Skandia Omsesidigt Takes $711,000 Position in Parker-Hannifin Corporation $PH

Livforsakringsbolaget Skandia Omsesidigt bought a new position in Parker-Hannifin Corporation (NYSE:PH) during the second quarter, HoldingsChannel reports. The firm bought 727 shares of the industrial products company’s stock, valued at approximately $711,000.

Other hedge funds have also bought and sold shares of the company. HFM Investment Advisors LLC increased its stake in Parker-Hannifin by 1,000.0% during the 4th quarter. HFM Investment Advisors LLC now owns 33 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 30 shares in the last quarter. Texas Capital Bancshares Inc TX bought a new position in shares of Parker-Hannifin in the third quarter valued at $25,000. Lloyd Advisory Services LLC. acquired a new position in shares of Parker-Hannifin during the fourth quarter valued at about $31,000. NFSG Corp grew its holdings in shares of Parker-Hannifin by 94.4% during the first quarter. NFSG Corp now owns 35 shares of the industrial products company’s stock valued at $31,000 after buying an additional 17 shares during the last quarter. Finally, Bell Investment Advisors Inc bought a new stake in shares of Parker-Hannifin during the second quarter worth about $35,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Insider Activity at Parker-Hannifin

In other news, VP Berend Bracht sold 602 shares of the company’s stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $1,040.47, for a total transaction 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.32% of the stock is owned by corporate insiders.

Parker-Hannifin Stock Down 1.6%

Parker-Hannifin stock opened at $995.24 on Friday. The firm has a 50 day moving average price of $991.71 and a 200-day moving average price of $950.48. 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. The company has a market capitalization of $125.45 billion, a P/E ratio of 34.93, a P/E/G ratio of 2.59 and a beta of 1.12.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data 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. Parker-Hannifin had a return on equity of 28.48% and a net margin of 16.97%.The business had revenue of $5.75 billion for the quarter, compared to the consensus estimate of $5.57 billion. During the same quarter in the prior year, the business earned $7.69 earnings per share. Parker-Hannifin’s revenue for the quarter 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 EPS for the current year.

Parker-Hannifin Announces Dividend

The company also recently announced 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 dividend yield of 0.8%. Parker-Hannifin’s payout ratio is presently 28.08%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on PH shares. KeyCorp upped their target price on shares of Parker-Hannifin from $1,100.00 to $1,210.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Wall Street Zen downgraded Parker-Hannifin from a “buy” rating to a “hold” rating in a research note on Saturday, August 22nd. JPMorgan Chase & Co. decreased their price objective on Parker-Hannifin from $1,100.00 to $1,060.00 and set an “overweight” rating for the company in a report on Thursday, May 7th. Truist Financial increased their price objective on 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. Finally, BMO Capital Markets restated an “outperform” rating and issued a $1,214.00 target price on shares of Parker-Hannifin in a report on Friday, August 7th. Seventeen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,100.00.

About Parker-Hannifin

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.