Parker-Hannifin Corporation $PH Shares Acquired by Nissay Asset Management Corp Japan

Nissay Asset Management Corp Japan lifted its position in shares of Parker-Hannifin Corporation (NYSE:PH) by 4.2% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 17,022 shares of the industrial products company’s stock after buying an additional 684 shares during the quarter. Nissay Asset Management Corp Japan’s holdings in Parker-Hannifin were worth $16,650,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of PH. Texas Capital Bancshares Inc TX purchased a new stake in Parker-Hannifin in the 3rd quarter worth approximately $25,000. Archer Investment Corp purchased a new position in shares of Parker-Hannifin during the 2nd quarter worth $28,000. HFM Investment Advisors LLC lifted its stake in shares of 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 worth $29,000 after purchasing an additional 30 shares during the period. Lloyd Advisory Services LLC. acquired a new stake in shares of Parker-Hannifin during the fourth quarter worth $31,000. Finally, NFSG Corp boosted 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 worth $31,000 after purchasing an additional 17 shares during the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Analyst Ratings Changes

PH has been the subject of several analyst reports. KeyCorp upped their target price on Parker-Hannifin from $1,100.00 to $1,210.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Truist Financial raised their price target 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. Wells Fargo & Company lowered their price target on Parker-Hannifin from $980.00 to $950.00 and set an “overweight” rating for the company in a report on Tuesday, May 26th. BMO Capital Markets restated an “outperform” rating and issued a $1,214.00 price target on shares of Parker-Hannifin in a report on Friday, August 7th. Finally, Sanford C. Bernstein upped their price objective on shares of Parker-Hannifin from $1,037.00 to $1,218.00 and gave the company an “outperform” rating in a research note on Friday, August 14th. Seventeen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $1,100.00.

Parker-Hannifin Trading Down 1.6%

PH stock opened at $995.24 on Friday. The company has a quick ratio of 0.74, a current ratio of 1.26 and a debt-to-equity ratio of 0.44. The company has a market cap of $125.45 billion, a price-to-earnings ratio of 34.93, a PEG ratio of 2.59 and a beta of 1.12. The business has a fifty day simple moving average of $991.71 and a 200-day simple moving average of $950.48. Parker-Hannifin Corporation has a 52 week low of $715.37 and a 52 week high of $1,099.94.

Parker-Hannifin (NYSE:PH) last issued its earnings results on Thursday, August 6th. The industrial products company reported $9.27 earnings per share 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 for the quarter, compared to analysts’ expectations of $5.57 billion. During the same quarter last year, the firm earned $7.69 earnings per share. The firm’s revenue for the quarter 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, equities research analysts expect that Parker-Hannifin Corporation will post 34.93 EPS for the current year.

Parker-Hannifin Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Monday, August 31st will be paid a $2.00 dividend. This represents a $8.00 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Monday, August 31st. Parker-Hannifin’s payout ratio is currently 28.08%.

Insider Buying and Selling 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 sale, the vice president 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 link. 0.32% of the stock is owned by corporate insiders.

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.