Andra AP fonden Has $28.92 Million Stock Holdings in Parker-Hannifin Corporation $PH

Andra AP fonden raised its stake in Parker-Hannifin Corporation (NYSE:PH) by 3.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,567 shares of the industrial products company’s stock after purchasing an additional 880 shares during the period. Andra AP fonden’s holdings in Parker-Hannifin were worth $28,920,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in shares of Parker-Hannifin during the second quarter valued at $10,163,362,000. State Street Corp increased its stake in Parker-Hannifin by 0.5% in the second quarter. State Street Corp now owns 9,385,389 shares of the industrial products company’s stock valued at $9,180,037,000 after purchasing an additional 42,548 shares in the last quarter. Bank of America Corp DE acquired a new stake in Parker-Hannifin during the 2nd quarter worth $3,273,507,000. Capital World Investors raised its position in shares of Parker-Hannifin by 0.6% during the fourth quarter. Capital World Investors now owns 2,600,844 shares of the industrial products company’s stock worth $2,286,038,000 after purchasing an additional 16,703 shares during the period. Finally, Norges Bank bought a new position in shares of Parker-Hannifin during the 4th quarter valued at about $1,756,230,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Parker-Hannifin in a report on Friday, July 17th. Wells Fargo & Company dropped their price objective on shares of Parker-Hannifin from $980.00 to $950.00 and set an “overweight” rating on the stock in a report on Tuesday, May 26th. Citigroup boosted their price objective 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. BNP Paribas Exane reiterated an “outperform” rating and set a $1,220.00 target price (up from $1,090.00) on shares of Parker-Hannifin in a report on Friday, August 7th. Finally, Truist Financial lifted their price target on Parker-Hannifin from $1,269.00 to $1,358.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Seventeen research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Parker-Hannifin presently has a consensus rating of “Moderate Buy” and an average price target of $1,114.55.

Parker-Hannifin Stock Up 0.3%

Shares of PH stock traded up $2.64 during trading on Tuesday, reaching $960.81. The company’s stock had a trading volume of 130,019 shares, compared to its average volume of 701,247. Parker-Hannifin Corporation has a one year low of $715.37 and a one year high of $1,099.94. The business has a fifty day moving average price of $987.03 and a 200-day moving average price of $943.84. The company has a market cap of $121.11 billion, a price-to-earnings ratio of 33.77, a price-to-earnings-growth ratio of 2.94 and a beta of 1.13. 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 (NYSE:PH) last issued its quarterly earnings results on Thursday, August 6th. The industrial products company reported $9.27 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $5.75 billion for the quarter, compared to analyst estimates of $5.57 billion. During the same period in the previous year, the business earned $7.69 EPS. The company’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. Analysts anticipate that Parker-Hannifin Corporation will post 34.95 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 11th. Investors of record on Monday, August 31st were given a $2.00 dividend. The ex-dividend date of this dividend was 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%.

Insider Transactions at Parker-Hannifin

In related news, VP Berend Bracht sold 602 shares of the stock in a transaction that occurred on 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 directly owned 4,399 shares of the company’s stock, valued at approximately $4,577,027.53. This represents a 12.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.32% of the company’s stock.

About Parker-Hannifin

Parker-Hannifin Corporation (NYSE:PH) is a diversified manufacturer of motion and control technologies. The company develops and produces systems and components that manage the movement and flow of liquids, gases and other materials for industrial, mobile and aerospace applications.

Its products include hydraulic and pneumatic systems, fluid connectors, filtration and process-control equipment, electromechanical technologies, seals, thermal-management solutions and aerospace systems. Parker-Hannifin serves manufacturers and operators in markets such as factory automation, transportation, energy, construction, life sciences and aviation.

Founded in 1917, Parker-Hannifin is headquartered in Cleveland, Ohio, and serves customers through manufacturing, distribution and sales operations across North America, Europe, Asia and other international markets.