Parker-Hannifin Corporation $PH is Tribune Investment Group LP’s 5th Largest Position

Tribune Investment Group LP trimmed its stake in Parker-Hannifin Corporation (NYSE:PH) by 34.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,260 shares of the industrial products company’s stock after selling 3,900 shares during the quarter. Parker-Hannifin accounts for 2.9% of Tribune Investment Group LP’s portfolio, making the stock its 5th biggest holding. Tribune Investment Group LP’s holdings in Parker-Hannifin were worth $7,101,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of Parker-Hannifin by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 11,142,535 shares of the industrial products company’s stock valued at $9,793,843,000 after acquiring an additional 33,606 shares in the last quarter. BlackRock Inc. bought a new position in Parker-Hannifin in the 2nd quarter worth about $10,163,362,000. Bank of America Corp DE grew its position 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 purchasing an additional 22,305 shares during the last quarter. Capital World Investors increased its stake in 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 purchasing an additional 16,703 shares in the last quarter. Finally, Morgan Stanley increased its stake in Parker-Hannifin by 1.1% during the 4th quarter. Morgan Stanley now owns 2,133,044 shares of the industrial products company’s stock valued at $1,874,862,000 after purchasing an additional 22,367 shares in the last quarter. 82.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Stifel Nicolaus set a $1,075.00 target price on shares of Parker-Hannifin in a research note on Friday, August 7th. Weiss Ratings reissued a “buy (b)” rating on shares of Parker-Hannifin in a research report on Friday, July 17th. BNP Paribas Exane restated an “outperform” rating and issued a $1,220.00 price objective (up from $1,090.00) on shares of Parker-Hannifin in a report on Friday, August 7th. UBS Group upped their price objective on Parker-Hannifin from $1,092.00 to $1,250.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Finally, Sanford C. Bernstein increased 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. Seventeen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $1,100.00.

Parker-Hannifin Price Performance

PH opened at $1,002.90 on Monday. 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 stock has a market capitalization of $126.46 billion, a P/E ratio of 35.20, a P/E/G ratio of 2.61 and a beta of 1.12. The company’s 50-day simple moving average is $984.42 and its two-hundred day simple moving average is $948.72. 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 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 firm had revenue of $5.75 billion for the quarter, compared to the consensus estimate of $5.57 billion. During the same quarter last year, the firm posted $7.69 EPS. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. As a group, analysts predict that Parker-Hannifin Corporation will post 34.93 EPS for the current year.

Parker-Hannifin Announces Dividend

The business 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 $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 (DPR) is currently 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.