Parker-Hannifin Corporation $PH Stock Purchased by International Assets Investment Management LLC

International Assets Investment Management LLC raised its holdings in shares of Parker-Hannifin Corporation (NYSE:PH) by 3,529.8% during the third quarter, HoldingsChannel.com reports. The firm owned 20,000 shares of the industrial products company’s stock after acquiring an additional 19,449 shares during the quarter. International Assets Investment Management LLC’s holdings in Parker-Hannifin were worth $19,108,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC lifted its stake in shares of Parker-Hannifin by 234.0% in the 2nd quarter. Proficio Capital Partners LLC now owns 1,954 shares of the industrial products company’s stock valued at $1,911,000 after purchasing an additional 1,369 shares during the period. BNP Paribas boosted its position in shares of Parker-Hannifin by 4.1% in the 2nd quarter. BNP Paribas now owns 54,208 shares of the industrial products company’s stock worth $52,717,000 after purchasing an additional 2,121 shares during the last quarter. Integrated Wealth Concepts LLC boosted its position in shares of Parker-Hannifin by 86.1% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 3,503 shares of the industrial products company’s stock worth $3,426,000 after purchasing an additional 1,621 shares during the last quarter. Rakuten Investment Management Inc. bought a new position in shares of Parker-Hannifin in the 2nd quarter worth $19,883,000. Finally, Wealth Enhancement Advisory Services LLC grew its stake in shares of Parker-Hannifin by 6.8% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 46,177 shares of the industrial products company’s stock worth $45,167,000 after purchasing an additional 2,955 shares during the period. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Parker-Hannifin Stock Performance

PH stock opened at $898.73 on Friday. The business’s 50-day moving average price is $956.18 and its two-hundred day moving average price is $949.73. 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 firm has a market cap of $113.34 billion, a PE ratio of 31.55, a P/E/G ratio of 2.59 and a beta of 1.12. Parker-Hannifin Corporation has a 1-year low of $755.10 and a 1-year high of $1,099.94.

Parker-Hannifin (NYSE:PH) last posted its earnings results on Thursday, August 6th. The industrial products company reported $9.27 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $5.57 billion. During the same period in the previous year, the firm earned $7.69 earnings per share. The company’s 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, research analysts forecast that Parker-Hannifin Corporation will post 35.72 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, December 4th. Stockholders of record on Friday, November 13th will be issued a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Friday, November 13th. Parker-Hannifin’s payout ratio is 28.08%.

Insider Activity

In related news, VP Berend Bracht sold 602 shares of the business’s stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $1,040.47, for a total value of $626,362.94. Following the completion of the transaction, the vice president directly owned 4,399 shares in the company, valued at approximately $4,577,027.53. The trade was a 12.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.35% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Wall Street Zen upgraded Parker-Hannifin from a “hold” rating to a “buy” rating in a report on Saturday, October 24th. JPMorgan Chase & Co. reduced their target price on Parker-Hannifin from $1,140.00 to $1,131.00 and set an “overweight” rating on the stock in a report on Friday, October 9th. Wells Fargo & Company assumed coverage on Parker-Hannifin in a research report on Thursday, September 24th. They set an “equal weight” rating and a $1,050.00 target price for the company. Mizuho set a $1,200.00 price target on Parker-Hannifin in a research note on Thursday, October 15th. Finally, Raymond James Financial increased their price target on shares of Parker-Hannifin from $1,050.00 to $1,250.00 and gave the company an “outperform” rating in a research report on Monday, August 10th. Eighteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, Parker-Hannifin has a consensus rating of “Moderate Buy” and an average target price of $1,146.35.

Parker-Hannifin Profile

Parker-Hannifin Corporation is a diversified manufacturer of motion and control technologies and systems. The company serves aerospace, industrial, and other specialized markets with products designed to control the movement and flow of liquids and gases, as well as mechanical motion and power.

Its product portfolio includes hydraulic and pneumatic systems, filtration and process-control equipment, electromechanical technologies, sealing and shielding products, connectors, pumps, valves, and related components.