Varma Mutual Pension Insurance Co Trims Holdings in Parker-Hannifin Corporation $PH

Varma Mutual Pension Insurance Co decreased its holdings in shares of Parker-Hannifin Corporation (NYSE:PH) by 18.2% in the second quarter, HoldingsChannel reports. The firm owned 26,575 shares of the industrial products company’s stock after selling 5,900 shares during the quarter. Varma Mutual Pension Insurance Co’s holdings in Parker-Hannifin were worth $25,994,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of PH. Texas Capital Bancshares Inc TX bought a new position in shares of Parker-Hannifin during the third quarter valued at approximately $25,000. HFM Investment Advisors LLC lifted its stake in Parker-Hannifin by 1,000.0% in the fourth quarter. HFM Investment Advisors LLC now owns 33 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 30 shares during the period. Lloyd Advisory Services LLC. bought a new stake in Parker-Hannifin in the fourth quarter valued at $31,000. NFSG Corp boosted its holdings in Parker-Hannifin by 94.4% in the first quarter. NFSG Corp now owns 35 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 17 shares in the last quarter. Finally, First Command Advisory Services Inc. increased its position in Parker-Hannifin by 1,133.3% during the 4th quarter. First Command Advisory Services Inc. now owns 37 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 34 shares during the period. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. KeyCorp upped their price objective on shares of Parker-Hannifin from $1,100.00 to $1,210.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Parker-Hannifin in a research note on Friday, July 17th. JPMorgan Chase & Co. decreased their price target on shares of Parker-Hannifin from $1,100.00 to $1,060.00 and set an “overweight” rating for the company in a research note on Thursday, May 7th. Stifel Nicolaus set a $1,075.00 price objective on shares of Parker-Hannifin in a report on Friday, August 7th. Finally, UBS Group lifted 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. Seventeen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $1,100.00.

Parker-Hannifin Price Performance

PH opened at $1,002.90 on Friday. The company has a current ratio of 1.26, a quick ratio of 0.74 and a debt-to-equity ratio of 0.44. The company has a market cap of $126.46 billion, a price-to-earnings ratio of 35.20, a price-to-earnings-growth ratio of 2.61 and a beta of 1.12. The stock has a fifty day simple moving average of $984.42 and a two-hundred day simple moving average of $948.75. Parker-Hannifin Corporation has a 12-month low of $715.37 and a 12-month 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 EPS for the quarter, beating analysts’ consensus estimates of $8.31 by $0.96. The firm had revenue of $5.75 billion for the quarter, compared to analysts’ expectations of $5.57 billion. Parker-Hannifin had a net margin of 16.97% and a return on equity of 28.48%. The company’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $7.69 EPS. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. Research analysts predict that Parker-Hannifin Corporation will post 34.93 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Monday, August 31st will be given a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Monday, August 31st. Parker-Hannifin’s dividend payout ratio (DPR) 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.