Hayek Kallen Investment Management Takes Position in Parker-Hannifin Corporation $PH

Hayek Kallen Investment Management acquired a new position in Parker-Hannifin Corporation (NYSE:PH) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 725 shares of the industrial products company’s stock, valued at approximately $709,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Texas Capital Bancshares Inc TX bought a new position in Parker-Hannifin during the 3rd quarter worth approximately $25,000. HFM Investment Advisors LLC lifted its position in Parker-Hannifin by 1,000.0% in the fourth quarter. HFM Investment Advisors LLC now owns 33 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 30 shares during the last quarter. Lloyd Advisory Services LLC. bought a new stake in Parker-Hannifin in the fourth quarter valued at approximately $31,000. NFSG Corp boosted its stake in shares of Parker-Hannifin by 94.4% during the first quarter. NFSG Corp now owns 35 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 17 shares during the period. Finally, First Command Advisory Services Inc. boosted its stake in shares of Parker-Hannifin by 1,133.3% during the fourth quarter. First Command Advisory Services Inc. now owns 37 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 34 shares during the period. Institutional investors own 82.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on PH. Sanford C. Bernstein lifted their target price on shares of Parker-Hannifin from $1,037.00 to $1,218.00 and gave the stock an “outperform” rating in a research note on Friday, August 14th. JPMorgan Chase & Co. dropped their price target on shares of Parker-Hannifin from $1,100.00 to $1,060.00 and set an “overweight” rating for the company in a research report on Thursday, May 7th. Weiss Ratings reissued a “buy (b)” rating on shares of Parker-Hannifin in a report on Friday, July 17th. Evercore set a $1,064.00 price objective on shares of Parker-Hannifin in a research report on Monday, May 11th. Finally, Citigroup upped 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 note on Friday, August 7th. Seventeen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, Parker-Hannifin currently has an average rating of “Moderate Buy” and an average target price of $1,100.00.

Parker-Hannifin Price Performance

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

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings results on Thursday, August 6th. The industrial products company reported $9.27 EPS 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 analyst estimates of $5.57 billion. During the same quarter last year, the firm posted $7.69 earnings per share. The firm’s revenue was up 9.8% on a year-over-year basis. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. On average, equities research analysts predict that Parker-Hannifin Corporation will post 34.93 EPS for the current year.

Parker-Hannifin Announces Dividend

The business 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. The ex-dividend date is Monday, August 31st. This represents a $8.00 annualized dividend and a yield of 0.8%. Parker-Hannifin’s dividend payout ratio is 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.