Parker-Hannifin Corporation $PH Stock Acquired by Turtle Creek Wealth Advisors LLC

Turtle Creek Wealth Advisors LLC lifted its position in Parker-Hannifin Corporation (NYSE:PH) by 4.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 14,330 shares of the industrial products company’s stock after buying an additional 668 shares during the quarter. Turtle Creek Wealth Advisors LLC’s holdings in Parker-Hannifin were worth $13,691,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of PH. Polaris Financial Partners acquired a new position in Parker-Hannifin in the 3rd quarter valued at about $26,000. Archer Investment Corp purchased a new stake in Parker-Hannifin during the second quarter worth about $28,000. NFSG Corp lifted its position 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 worth $31,000 after purchasing an additional 17 shares in the last quarter. Bell Investment Advisors Inc acquired a new stake in shares of Parker-Hannifin during the second quarter worth about $35,000. Finally, Brown Lisle Cummings Inc. lifted its position in shares of Parker-Hannifin by 76.0% during the first quarter. Brown Lisle Cummings Inc. now owns 44 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 19 shares in the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Stock Down 0.4%

Parker-Hannifin stock traded down $4.13 during midday trading on Thursday, reaching $952.19. The company’s stock had a trading volume of 306,525 shares, compared to its average volume of 683,938. The company has a market cap of $120.08 billion, a P/E ratio of 33.42, a P/E/G ratio of 2.69 and a beta of 1.12. The company has a quick ratio of 0.74, a current ratio of 1.26 and a debt-to-equity ratio of 0.44. The business has a 50-day simple moving average of $984.57 and a 200-day simple moving average of $949.37. Parker-Hannifin Corporation has a fifty-two week low of $721.17 and a fifty-two week high of $1,099.94.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings data on Thursday, August 6th. The industrial products company reported $9.27 EPS for the quarter, beating 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 business 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 business posted $7.69 EPS. The business’s revenue for the quarter 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, research analysts expect that Parker-Hannifin Corporation will post 35.29 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

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

Insider Activity

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

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Wells Fargo & Company began coverage on shares of Parker-Hannifin in a report on Thursday, September 24th. They issued an “equal weight” rating and a $1,050.00 price objective for the company. Mizuho set a $1,200.00 target price on shares of Parker-Hannifin in a research note on Thursday. Robert W. Baird increased their target price on shares of Parker-Hannifin from $1,050.00 to $1,275.00 in a report on Friday, August 7th. Sanford C. Bernstein boosted their price target 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. Finally, Wall Street Zen downgraded shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a research note on Saturday, August 22nd. Eighteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $1,149.52.

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.