Equitable Holdings Inc. Acquires New Holdings in Parker-Hannifin Corporation $PH

Equitable Holdings Inc. bought a new position in shares of Parker-Hannifin Corporation (NYSE:PH) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 5,536 shares of the industrial products company’s stock, valued at approximately $5,415,000.

A number of other institutional investors have also recently bought and sold shares of the stock. E Fund Management Co. Ltd. increased its position in shares of Parker-Hannifin by 2.1% during the second quarter. E Fund Management Co. Ltd. now owns 477 shares of the industrial products company’s stock worth $467,000 after acquiring an additional 10 shares in the last quarter. Optas LLC lifted its position in Parker-Hannifin by 3.1% in the 1st quarter. Optas LLC now owns 370 shares of the industrial products company’s stock valued at $331,000 after acquiring an additional 11 shares in the last quarter. Moneta Group Investment Advisors LLC lifted its position in Parker-Hannifin by 1.8% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 614 shares of the industrial products company’s stock valued at $540,000 after acquiring an additional 11 shares in the last quarter. Inspire Advisors LLC boosted its stake in Parker-Hannifin by 1.2% in the 4th quarter. Inspire Advisors LLC now owns 917 shares of the industrial products company’s stock worth $807,000 after purchasing an additional 11 shares during the period. Finally, RFG Advisory LLC boosted its stake in Parker-Hannifin by 0.3% in the 1st quarter. RFG Advisory LLC now owns 3,740 shares of the industrial products company’s stock worth $3,348,000 after purchasing an additional 12 shares during the period. Institutional investors own 82.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on PH shares. Mizuho set a $1,050.00 price target on Parker-Hannifin in a research note on Friday, May 1st. Truist Financial increased their price objective on Parker-Hannifin from $1,269.00 to $1,358.00 and gave the stock a “buy” rating in a report on Friday, August 7th. KeyCorp boosted 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. BMO Capital Markets reaffirmed an “outperform” rating and set a $1,214.00 price target on shares of Parker-Hannifin in a research report on Friday, August 7th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Parker-Hannifin in a report on Friday, July 17th. Seventeen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,100.00.

Parker-Hannifin Stock Performance

PH opened at $1,010.69 on Friday. Parker-Hannifin Corporation has a 52-week low of $715.37 and a 52-week high of $1,099.94. The firm has a market capitalization of $127.40 billion, a PE ratio of 35.48, a PEG ratio of 2.71 and a beta of 1.12. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.74 and a current ratio of 1.26. The business’s 50-day simple moving average is $990.89 and its 200 day simple moving average is $950.16.

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

Parker-Hannifin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Monday, August 31st will be issued a dividend of $2.00 per share. 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 payout ratio is presently 28.08%.

Parker-Hannifin Company 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.