Dearborn Partners LLC Invests $998,000 in Parker-Hannifin Corporation $PH

Dearborn Partners LLC bought a new stake in Parker-Hannifin Corporation (NYSE:PH) in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 1,020 shares of the industrial products company’s stock, valued at approximately $998,000.

A number of other institutional investors have also added to or reduced their stakes in PH. BlackRock Inc. bought a new position in Parker-Hannifin during the 2nd quarter valued at $10,163,362,000. Bank of America Corp DE grew its stake in shares of Parker-Hannifin by 0.6% in the 4th quarter. Bank of America Corp DE now owns 3,926,896 shares of the industrial products company’s stock worth $3,451,584,000 after acquiring an additional 22,305 shares in the last quarter. Capital World Investors grew its stake in shares of Parker-Hannifin by 0.6% in the 4th quarter. Capital World Investors now owns 2,600,844 shares of the industrial products company’s stock worth $2,286,038,000 after acquiring an additional 16,703 shares in the last quarter. Morgan Stanley raised its holdings in shares of Parker-Hannifin by 1.1% in the fourth quarter. Morgan Stanley now owns 2,133,044 shares of the industrial products company’s stock valued at $1,874,862,000 after purchasing an additional 22,367 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Parker-Hannifin during the fourth quarter valued at about $1,756,230,000. 82.44% of the stock is owned by institutional investors and hedge funds.

Parker-Hannifin Stock Down 2.8%

Parker-Hannifin stock opened at $1,010.69 on Friday. The firm has a 50 day moving average price of $990.89 and a 200-day moving average price of $950.16. 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 $127.40 billion, a P/E ratio of 35.48, a P/E/G ratio of 2.71 and a beta of 1.12.

Parker-Hannifin (NYSE:PH) last posted its quarterly 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 net margin of 16.97% and a return on equity of 28.48%. The company had revenue of $5.75 billion for the quarter, compared to analysts’ expectations of $5.57 billion. During the same quarter in the previous year, the firm posted $7.69 EPS. Parker-Hannifin’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, 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%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PH. Evercore set a $1,064.00 price target on shares of Parker-Hannifin in a report on Monday, May 11th. Wall Street Zen cut shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a research report on Saturday, August 22nd. Wells Fargo & Company cut their target price on Parker-Hannifin from $980.00 to $950.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 26th. Susquehanna upped their target price 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. Finally, Mizuho set a $1,050.00 price target on Parker-Hannifin in a research report on Friday, May 1st. Seventeen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $1,100.00.

Parker-Hannifin Company 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.