Quantitative Investment Management LLC Trims Stake in Parker-Hannifin Corporation $PH

Quantitative Investment Management LLC lessened its holdings in Parker-Hannifin Corporation (NYSE:PH) by 74.6% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 1,218 shares of the industrial products company’s stock after selling 3,580 shares during the period. Quantitative Investment Management LLC’s holdings in Parker-Hannifin were worth $1,191,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PH. Archer Investment Corp purchased a new position in Parker-Hannifin during the second quarter worth about $28,000. HFM Investment Advisors LLC lifted its holdings in shares of Parker-Hannifin by 1,000.0% in the 4th quarter. HFM Investment Advisors LLC now owns 33 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 30 shares during the last quarter. Texas Capital Bancshares Inc TX acquired a new position in shares of Parker-Hannifin in the 3rd quarter worth approximately $25,000. Lloyd Advisory Services LLC. purchased a new position in shares of Parker-Hannifin during the 4th quarter worth approximately $31,000. Finally, NFSG Corp boosted its position in shares of Parker-Hannifin by 94.4% during the 1st 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 period. 82.44% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Parker-Hannifin

In related news, VP Berend Bracht sold 602 shares of the firm’s stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $1,040.47, for a total value of $626,362.94. Following the sale, the vice president owned 4,399 shares of the company’s stock, valued at $4,577,027.53. This trade represents a 12.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.32% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on the company. Weiss Ratings restated a “buy (b)” rating on shares of Parker-Hannifin in a research note on Friday, July 17th. BNP Paribas Exane reaffirmed an “outperform” rating and issued a $1,220.00 price objective (up from $1,090.00) on shares of Parker-Hannifin in a research note on Friday, August 7th. UBS Group boosted their price objective on Parker-Hannifin from $1,092.00 to $1,250.00 and gave the company a “buy” rating in a report on Friday, August 7th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $1,214.00 target price on shares of Parker-Hannifin in a research report on Friday, August 7th. Finally, Wells Fargo & Company cut their price target on shares of Parker-Hannifin from $980.00 to $950.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 26th. Seventeen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Parker-Hannifin has a consensus rating of “Moderate Buy” and an average price target of $1,100.00.

Parker-Hannifin Stock Down 1.5%

Parker-Hannifin stock opened at $979.89 on Tuesday. The firm has a market capitalization of $123.52 billion, a P/E ratio of 34.39, a P/E/G ratio of 2.59 and a beta of 1.12. The company has a current ratio of 1.26, a quick ratio of 0.74 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 stock’s fifty day simple moving average is $992.06 and its 200-day simple moving average is $950.21.

Parker-Hannifin (NYSE:PH) last released 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 analyst estimates of $5.57 billion. During the same period last year, the business 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. As a group, equities analysts expect that Parker-Hannifin Corporation will post 34.93 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

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

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.