31,178 Shares in Parker-Hannifin Corporation $PH Bought by Jupiter Topco LLC

Jupiter Topco LLC bought a new stake in Parker-Hannifin Corporation (NYSE:PH) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 31,178 shares of the industrial products company’s stock, valued at approximately $30,493,000.

Other institutional investors have also bought and sold shares of the company. Fideuram Asset Management Ireland dac acquired a new position in shares of Parker-Hannifin during the 4th quarter worth $1,253,000. Truist Financial Corp grew its stake in Parker-Hannifin by 2.7% in the 4th quarter. Truist Financial Corp now owns 174,852 shares of the industrial products company’s stock valued at $153,687,000 after acquiring an additional 4,673 shares during the last quarter. Shepherd Street Advisors LLC purchased a new position in Parker-Hannifin during the 4th quarter valued at about $1,736,000. Jefferies Financial Group Inc. purchased a new position in Parker-Hannifin during the 4th quarter valued at about $11,434,000. Finally, Horizon Investments LLC raised its position in Parker-Hannifin by 78.8% during the fourth quarter. Horizon Investments LLC now owns 8,829 shares of the industrial products company’s stock worth $7,760,000 after acquiring an additional 3,892 shares during the last quarter. Institutional investors own 82.44% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Evercore set a $1,064.00 price target on shares of Parker-Hannifin in a research report on Monday, May 11th. JPMorgan Chase & Co. cut their price objective on 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. Truist Financial upped their target price on Parker-Hannifin from $1,269.00 to $1,358.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Mizuho set a $1,050.00 target price on Parker-Hannifin in a report on Friday, May 1st. Finally, Wall Street Zen downgraded Parker-Hannifin from a “buy” rating to a “hold” rating in a research report on Saturday, August 22nd. Seventeen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $1,100.00.

Insiders Place Their Bets

In other Parker-Hannifin news, VP Berend Bracht sold 602 shares of the stock in a transaction 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 transaction, the vice president owned 4,399 shares of the company’s stock, valued at $4,577,027.53. This represents a 12.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.32% of the company’s stock.

Parker-Hannifin Price Performance

Parker-Hannifin stock opened at $995.24 on Friday. Parker-Hannifin Corporation has a 12-month low of $715.37 and a 12-month high of $1,099.94. The stock has a market capitalization of $125.45 billion, a P/E ratio of 34.93, a P/E/G ratio of 2.63 and a beta of 1.12. The firm’s 50-day moving average is $991.71 and its two-hundred day moving average is $950.48. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.26 and a quick ratio of 0.74.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data 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 business had revenue of $5.75 billion during the quarter, compared to analyst estimates of $5.57 billion. Parker-Hannifin had a net margin of 16.97% and a return on equity of 28.48%. The company’s revenue was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $7.69 earnings per share. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. Equities analysts predict that Parker-Hannifin Corporation will post 34.93 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The firm also recently declared 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 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.