1,335 Shares in Parker-Hannifin Corporation $PH Acquired by Iowa State Bank

Iowa State Bank acquired a new stake in shares of Parker-Hannifin Corporation (NYSE:PH) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 1,335 shares of the industrial products company’s stock, valued at approximately $1,275,000.

A number of other institutional investors have also added to or reduced their stakes in PH. BlackRock Inc. bought a new position in shares of Parker-Hannifin during the second quarter valued at about $10,163,362,000. State Street Corp grew its holdings in shares of Parker-Hannifin by 0.5% in the second quarter. State Street Corp now owns 9,385,389 shares of the industrial products company’s stock worth $9,180,037,000 after purchasing an additional 42,548 shares during the last quarter. Bank of America Corp DE purchased a new position in shares of Parker-Hannifin in the second quarter worth $3,273,507,000. Nuveen LLC raised its holdings in Parker-Hannifin by 7.4% during the 4th quarter. Nuveen LLC now owns 1,367,683 shares of the industrial products company’s stock valued at $1,202,139,000 after buying an additional 94,343 shares during the last quarter. Finally, Franklin Resources Inc. boosted its position in Parker-Hannifin by 3.1% during the 4th quarter. Franklin Resources Inc. now owns 1,207,880 shares of the industrial products company’s stock valued at $1,061,678,000 after buying an additional 36,203 shares during the period. Institutional investors own 82.44% of the company’s stock.

Insider Activity at Parker-Hannifin

In other news, VP Berend Bracht sold 602 shares of the business’s stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $1,040.47, for a total transaction of $626,362.94. Following the sale, the vice president owned 4,399 shares in the company, valued at approximately $4,577,027.53. The trade was a 12.04% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on PH. Wall Street Zen downgraded shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a research note on Saturday, August 22nd. Susquehanna upped their price target on Parker-Hannifin from $1,100.00 to $1,250.00 and gave the company a “positive” rating in a research report on Friday, August 7th. 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. UBS Group boosted their target price on Parker-Hannifin from $1,092.00 to $1,250.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Finally, Citigroup upped their target price on Parker-Hannifin from $1,141.00 to $1,232.00 and gave the company a “buy” rating in a report on Friday, August 7th. Sixteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,119.55.

Parker-Hannifin Stock Up 1.5%

PH traded up $14.28 on Tuesday, hitting $989.96. The company had a trading volume of 134,156 shares, compared to its average volume of 691,408. The stock has a fifty day simple moving average of $987.74 and a 200-day simple moving average of $946.86. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.26 and a quick ratio of 0.74. The firm has a market capitalization of $124.84 billion, a P/E ratio of 34.76, a P/E/G ratio of 2.98 and a beta of 1.12. Parker-Hannifin Corporation has a 52-week low of $715.37 and a 52-week high of $1,099.94.

Parker-Hannifin (NYSE:PH) last announced its earnings results on Thursday, August 6th. The industrial products company reported $9.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.31 by $0.96. The firm had revenue of $5.75 billion during the quarter, compared to analyst estimates 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 quarter in the prior year, the company earned $7.69 EPS. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. As a group, equities analysts expect that Parker-Hannifin Corporation will post 35.02 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 11th. Shareholders of record on Monday, August 31st were given a dividend of $2.00 per share. The ex-dividend date of this dividend was Monday, August 31st. This represents a $8.00 annualized dividend and a yield of 0.8%. Parker-Hannifin’s dividend payout ratio (DPR) is currently 28.08%.

About Parker-Hannifin

Parker-Hannifin Corporation is a diversified manufacturer of motion and control technologies. The company develops and produces components and systems that manage the movement and control of liquids, gases and mechanical force across industrial, mobile and aerospace applications.

Its product portfolio includes hydraulic and pneumatic systems, electromechanical technologies, filtration and fluid-management equipment, seals and shielding products, connectors, pumps, valves, sensors, thermal-management solutions and related engineered systems.