Sequoia Financial Advisors LLC Increases Stake in Parker-Hannifin Corporation $PH

Sequoia Financial Advisors LLC raised its stake in shares of Parker-Hannifin Corporation (NYSE:PH) by 10.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 60,061 shares of the industrial products company’s stock after purchasing an additional 5,473 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Parker-Hannifin were worth $58,747,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of PH. California State Teachers Retirement System raised its holdings in Parker-Hannifin by 96,423.1% in the 2nd quarter. California State Teachers Retirement System now owns 184,153,587 shares of the industrial products company’s stock worth $180,124,307,000 after acquiring an additional 183,962,800 shares during the last quarter. BlackRock Inc. bought a new stake in Parker-Hannifin in the 2nd quarter worth about $10,163,362,000. Bank of America Corp DE lifted its stake in Parker-Hannifin by 0.6% during the 4th quarter. Bank of America Corp DE now owns 3,926,896 shares of the industrial products company’s stock valued at $3,451,584,000 after acquiring an additional 22,305 shares during the period. Capital World Investors boosted its holdings in shares of Parker-Hannifin by 0.6% during the 4th quarter. Capital World Investors now owns 2,600,844 shares of the industrial products company’s stock valued at $2,286,038,000 after acquiring an additional 16,703 shares during the last quarter. Finally, Morgan Stanley grew its position in Parker-Hannifin by 1.1% in the 4th quarter. Morgan Stanley now owns 2,133,044 shares of the industrial products company’s stock worth $1,874,862,000 after purchasing an additional 22,367 shares during the period. 82.44% of the stock is owned by hedge funds and other institutional investors.

Parker-Hannifin Trading Down 0.5%

PH stock opened at $951.48 on Thursday. The firm has a fifty day moving average price of $990.48 and a 200 day moving average price of $948.09. Parker-Hannifin Corporation has a fifty-two week low of $715.37 and a fifty-two week high of $1,099.94. The firm has a market cap of $119.93 billion, a PE ratio of 33.40, a price-to-earnings-growth ratio of 2.60 and a beta of 1.13. 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 (NYSE:PH) last released its quarterly earnings results on Thursday, August 6th. The industrial products company reported $9.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.31 by $0.96. Parker-Hannifin had a net margin of 16.97% and a return on equity of 28.48%. The company had revenue of $5.75 billion for the quarter, compared to the consensus estimate of $5.57 billion. During the same quarter in the prior year, the firm earned $7.69 earnings per share. Parker-Hannifin’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. Sell-side analysts anticipate that Parker-Hannifin Corporation will post 35 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

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 paid a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Monday, August 31st. Parker-Hannifin’s payout ratio is presently 28.08%.

Insider Transactions at Parker-Hannifin

In other Parker-Hannifin news, VP Berend Bracht sold 602 shares of the company’s 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 sale, the vice president directly owned 4,399 shares in the company, valued at $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 available at this link. 0.32% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

PH has been the topic of a number of research reports. BNP Paribas Exane restated an “outperform” rating and issued a $1,220.00 price target (up from $1,090.00) on shares of Parker-Hannifin in a research note 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 note on Friday, August 7th. UBS Group upped their target price on shares of Parker-Hannifin from $1,092.00 to $1,250.00 and gave the company a “buy” rating in a report on Friday, August 7th. Wall Street Zen lowered Parker-Hannifin from a “buy” rating to a “hold” rating in a research note on Saturday, August 22nd. Finally, Wells Fargo & Company reduced their target price on shares of Parker-Hannifin from $980.00 to $950.00 and set an “overweight” rating for the company in a report on Tuesday, May 26th. Seventeen investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Parker-Hannifin has a consensus rating of “Moderate Buy” and a consensus price target of $1,114.55.

Parker-Hannifin Company Profile

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.