Foster & Motley Inc. Acquires Shares of 567 Parker-Hannifin Corporation $PH

Foster & Motley Inc. acquired a new stake in shares of Parker-Hannifin Corporation (NYSE:PH) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 567 shares of the industrial products company’s stock, valued at approximately $555,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in PH. Brighton Jones LLC boosted its position in Parker-Hannifin by 5.9% during the 4th quarter. Brighton Jones LLC now owns 1,808 shares of the industrial products company’s stock valued at $1,150,000 after buying an additional 101 shares during the period. Bison Wealth LLC increased its position in shares of Parker-Hannifin by 4.5% in the fourth quarter. Bison Wealth LLC now owns 749 shares of the industrial products company’s stock valued at $476,000 after acquiring an additional 32 shares during the period. Empowered Funds LLC raised its stake in shares of Parker-Hannifin by 0.5% during the first quarter. Empowered Funds LLC now owns 2,894 shares of the industrial products company’s stock valued at $1,759,000 after acquiring an additional 15 shares during the last quarter. Acadian Asset Management LLC raised its stake in shares of Parker-Hannifin by 26.2% during the first quarter. Acadian Asset Management LLC now owns 799 shares of the industrial products company’s stock valued at $484,000 after acquiring an additional 166 shares during the last quarter. Finally, Sivia Capital Partners LLC boosted its holdings in shares of Parker-Hannifin by 3.6% during the second quarter. Sivia Capital Partners LLC now owns 430 shares of the industrial products company’s stock worth $300,000 after purchasing an additional 15 shares during the period. Institutional investors own 82.44% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Weiss Ratings restated a “buy (b)” rating on shares of Parker-Hannifin in a report on Friday, July 17th. KeyCorp lifted their price objective on Parker-Hannifin from $1,100.00 to $1,210.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. BMO Capital Markets reiterated an “outperform” rating and issued a $1,214.00 price objective on shares of Parker-Hannifin in a research report on Friday, August 7th. Sanford C. Bernstein boosted their target price on 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. Finally, UBS Group upped their target price 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. Seventeen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Parker-Hannifin currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,100.00.

Parker-Hannifin Stock Performance

Shares of Parker-Hannifin stock opened at $1,001.54 on Friday. Parker-Hannifin Corporation has a 12 month low of $715.37 and a 12 month high of $1,099.94. The firm has a market capitalization of $126.28 billion, a P/E ratio of 35.15, a P/E/G ratio of 2.66 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. The business has a fifty day simple moving average of $982.40 and a two-hundred day simple moving average of $948.37.

Parker-Hannifin (NYSE:PH) last released its 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. The firm had revenue of $5.75 billion for the quarter, compared to the consensus estimate of $5.57 billion. Parker-Hannifin had a net margin of 16.97% and a return on equity of 28.48%. The company’s revenue was up 9.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $7.69 EPS. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. On average, equities analysts forecast that Parker-Hannifin Corporation will post 34.93 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

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

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.