Parker-Hannifin Corporation (NYSE:PH - Get Free Report) VP Berend Bracht sold 602 shares of Parker-Hannifin stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $1,040.47, for a total value of $626,362.94. Following 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 legal filing with the SEC, which is available through this hyperlink.
Parker-Hannifin Stock Performance
NYSE:PH opened at $995.24 on Friday. 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 50-day moving average price of $991.71 and a two-hundred day moving average price of $950.48. 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 $125.45 billion, a P/E ratio of 34.93, a price-to-earnings-growth ratio of 2.63 and a beta of 1.12.
Parker-Hannifin (NYSE:PH - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The industrial products company reported $9.27 earnings per share for the quarter, topping 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 company had revenue of $5.75 billion during the quarter, compared to analysts' expectations of $5.57 billion. During the same period in the previous year, the firm posted $7.69 earnings per share. The business'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. As a group, research 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 issued a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Monday, August 31st. Parker-Hannifin's dividend payout ratio is presently 28.08%.
Hedge Funds Weigh In On Parker-Hannifin
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. E Fund Management Co. Ltd. boosted its stake in shares of Parker-Hannifin by 2.1% during the 2nd quarter. E Fund Management Co. Ltd. now owns 477 shares of the industrial products company's stock valued at $467,000 after buying an additional 10 shares during the last quarter. Optas LLC increased its stake in shares of Parker-Hannifin by 3.1% in the first quarter. Optas LLC now owns 370 shares of the industrial products company's stock worth $331,000 after buying an additional 11 shares during the last quarter. Moneta Group Investment Advisors LLC increased its stake in shares of Parker-Hannifin by 1.8% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 614 shares of the industrial products company's stock worth $540,000 after buying an additional 11 shares during the last quarter. Inspire Advisors LLC raised its holdings in Parker-Hannifin by 1.2% in the fourth quarter. Inspire Advisors LLC now owns 917 shares of the industrial products company's stock valued at $807,000 after acquiring an additional 11 shares in the last quarter. Finally, RFG Advisory LLC boosted its stake in Parker-Hannifin by 0.3% during the 1st quarter. RFG Advisory LLC now owns 3,740 shares of the industrial products company's stock valued at $3,348,000 after acquiring an additional 12 shares during the last quarter. 82.44% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of research analysts recently weighed in on PH shares. Mizuho set a $1,050.00 target price on Parker-Hannifin in a report on Friday, May 1st. UBS Group upped their price target on Parker-Hannifin from $1,092.00 to $1,250.00 and gave the stock a "buy" rating in a research note on Friday, August 7th. Sanford C. Bernstein raised their price objective on Parker-Hannifin from $1,037.00 to $1,218.00 and gave the stock an "outperform" rating in a report on Friday, August 14th. Susquehanna lifted their price objective on Parker-Hannifin from $1,100.00 to $1,250.00 and gave the company a "positive" rating in a research note on Friday, August 7th. Finally, JPMorgan Chase & Co. decreased their target price on Parker-Hannifin from $1,100.00 to $1,060.00 and set an "overweight" rating for the company in a report on Thursday, May 7th. Seventeen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,100.00.
Check Out Our Latest Stock Report on Parker-Hannifin
About Parker-Hannifin
(
Get Free Report)
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.
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