Parker-Hannifin Corporation $PH Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company cut its stake in Parker-Hannifin Corporation (NYSE:PH) by 4.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 83,214 shares of the industrial products company’s stock after selling 4,025 shares during the period. The Manufacturers Life Insurance Company’s holdings in Parker-Hannifin were worth $81,393,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp boosted its stake in Parker-Hannifin by 3.5% during the second quarter. Jones Financial Companies Lllp now owns 126,804 shares of the industrial products company’s stock worth $122,869,000 after buying an additional 4,260 shares during the last quarter. Fiduciary Financial Advisors purchased a new position in shares of Parker-Hannifin during the 2nd quarter worth $213,000. L2 Asset Management LLC raised its holdings in shares of Parker-Hannifin by 2.9% during the 2nd quarter. L2 Asset Management LLC now owns 721 shares of the industrial products company’s stock worth $705,000 after acquiring an additional 20 shares during the period. Gallo Partners LP acquired a new position in shares of Parker-Hannifin during the 2nd quarter valued at about $535,000. Finally, Allstate Corp boosted its position in shares of Parker-Hannifin by 19.8% during the 2nd quarter. Allstate Corp now owns 10,814 shares of the industrial products company’s stock valued at $10,577,000 after acquiring an additional 1,784 shares during the last quarter. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Stock Up 0.1%

Shares of PH opened at $1,015.36 on Wednesday. The company’s 50-day moving average price is $987.88 and its 200 day moving average price is $949.41. Parker-Hannifin Corporation has a 12-month low of $715.37 and a 12-month high of $1,099.94. 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 $127.99 billion, a P/E ratio of 35.64, a price-to-earnings-growth ratio of 2.64 and a beta of 1.12.

Parker-Hannifin (NYSE:PH) last announced its earnings results on Thursday, August 6th. The industrial products company reported $9.27 earnings per share for the quarter, topping the consensus estimate of $8.31 by $0.96. Parker-Hannifin had a net margin of 16.97% and a return on equity of 28.48%. The company had revenue of $5.75 billion during the quarter, compared to analyst estimates of $5.57 billion. During the same quarter last year, the firm posted $7.69 earnings per share. Parker-Hannifin’s revenue was up 9.8% compared to the same quarter last year. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. On average, sell-side analysts forecast that Parker-Hannifin Corporation will post 34.93 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Monday, August 31st will be issued a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 0.8%. The ex-dividend date is Monday, August 31st. Parker-Hannifin’s dividend payout ratio (DPR) is 28.08%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. BNP Paribas Exane restated an “outperform” rating and set a $1,220.00 price objective (up from $1,090.00) on shares of Parker-Hannifin in a research report on Friday, August 7th. Wall Street Zen cut shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a research note on Saturday. UBS Group raised their price target on shares of Parker-Hannifin from $1,092.00 to $1,250.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Citigroup lifted their price target on shares of Parker-Hannifin from $1,141.00 to $1,232.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Finally, Susquehanna upped their price objective on Parker-Hannifin from $1,100.00 to $1,250.00 and gave the company a “positive” rating in a report on Friday, August 7th. Seventeen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target 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.