Parker-Hannifin Corporation $PH Stock: Aberdeen Group plc Grows Holdings

Aberdeen Group plc boosted its stake in Parker-Hannifin Corporation (NYSE:PH) by 149.0% in the third quarter, HoldingsChannel reports. The institutional investor owned 338,255 shares of the industrial products company’s stock after buying an additional 202,418 shares during the quarter. Aberdeen Group plc’s holdings in Parker-Hannifin were worth $323,176,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Valmark Advisers Inc. increased its position in Parker-Hannifin by 44.0% in the third quarter. Valmark Advisers Inc. now owns 681 shares of the industrial products company’s stock worth $651,000 after buying an additional 208 shares during the last quarter. Allworth Financial LP lifted its position in shares of Parker-Hannifin by 4.4% during the 3rd quarter. Allworth Financial LP now owns 15,774 shares of the industrial products company’s stock valued at $15,429,000 after buying an additional 663 shares during the last quarter. Legacy Trust lifted its position in shares of Parker-Hannifin by 10.9% during the 3rd quarter. Legacy Trust now owns 285 shares of the industrial products company’s stock valued at $256,000 after buying an additional 28 shares during the last quarter. Russell Investments Group Ltd. lifted its position in shares of Parker-Hannifin by 9.8% during the 3rd quarter. Russell Investments Group Ltd. now owns 101,854 shares of the industrial products company’s stock valued at $97,402,000 after buying an additional 9,079 shares during the last quarter. Finally, Eurizon Capital SGR S.p.A. grew its stake in shares of Parker-Hannifin by 10.7% during the 3rd quarter. Eurizon Capital SGR S.p.A. now owns 225,169 shares of the industrial products company’s stock worth $216,101,000 after acquiring an additional 21,761 shares during the period. 82.44% of the stock is currently owned by institutional investors.

Insider Activity at Parker-Hannifin

In other news, VP Berend Bracht sold 602 shares of the business’s stock in a transaction dated 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 completion of the transaction, the vice president owned 4,399 shares of the company’s stock, valued at approximately $4,577,027.53. The trade was a 12.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.35% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on PH. Citigroup lifted their price objective on Parker-Hannifin from $1,232.00 to $1,234.00 and gave the stock a “buy” rating in a report on Monday, October 12th. BMO Capital Markets reaffirmed an “outperform” rating and set a $1,214.00 price objective (up from $1,068.00) on shares of Parker-Hannifin in a report on Friday, August 7th. The Goldman Sachs Group increased their target price on shares of Parker-Hannifin from $1,071.00 to $1,165.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Evercore lifted their target price on shares of Parker-Hannifin from $1,064.00 to $1,217.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 11th. Finally, Wells Fargo & Company assumed coverage on shares of Parker-Hannifin in a research report on Thursday, September 24th. They issued an “equal weight” rating and a $1,050.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $1,146.35.

Parker-Hannifin Trading Down 0.4%

Shares of PH stock opened at $954.29 on Friday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.55 and a current ratio of 0.94. Parker-Hannifin Corporation has a 52-week low of $806.22 and a 52-week high of $1,099.94. The company has a market capitalization of $120.33 billion, a PE ratio of 32.77, a price-to-earnings-growth ratio of 2.26 and a beta of 1.15. The business’s fifty day moving average is $945.61 and its 200 day moving average is $949.90.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, November 5th. The industrial products company reported $8.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.21 by $0.69. Parker-Hannifin had a return on equity of 28.80% and a net margin of 16.62%. The company had revenue of $5.99 billion during the quarter, compared to analyst estimates of $5.81 billion. During the same quarter last year, the company earned $7.22 earnings per share. The firm’s quarterly revenue was up 17.9% on a year-over-year basis. Parker-Hannifin has set its FY 2027 guidance at 36.450-37.250 EPS. On average, equities research analysts anticipate that Parker-Hannifin Corporation will post 37.10 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 4th. Stockholders of record on Friday, November 13th will be given a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Friday, November 13th. Parker-Hannifin’s dividend payout ratio (DPR) is 27.47%.

About Parker-Hannifin

Parker-Hannifin is a global manufacturer of motion and control technologies. Its products include hydraulic and pneumatic systems, fluid connectors, filtration and sealing products, electromechanical components, and systems for aerospace and climate control applications. The company serves customers across industries such as aerospace, manufacturing, transportation, energy, and life sciences. Its operations span markets around the world, with businesses organized around industrial and aerospace products and services.