Kingsview Wealth Management LLC Takes $4.63 Million Position in Parker-Hannifin Corporation $PH

Kingsview Wealth Management LLC acquired a new stake in shares of Parker-Hannifin Corporation (NYSE:PH) in the second quarter, HoldingsChannel reports. The fund acquired 4,734 shares of the industrial products company’s stock, valued at approximately $4,630,000.

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

Parker-Hannifin Stock Performance

NYSE:PH opened at $995.24 on Friday. 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 50-day simple moving average of $991.71 and a two-hundred day simple moving average of $950.48. The firm has a market capitalization of $125.45 billion, a PE ratio of 34.93, a P/E/G ratio of 2.63 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 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 firm had revenue of $5.75 billion for the quarter, compared to analysts’ expectations of $5.57 billion. Parker-Hannifin had a return on equity of 28.48% and a net margin of 16.97%.The business’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the firm earned $7.69 EPS. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. Analysts forecast that Parker-Hannifin Corporation will post 34.93 EPS for the current year.

Parker-Hannifin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Monday, August 31st will be paid a dividend of $2.00 per share. The ex-dividend date is 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%.

Insiders Place Their Bets

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

Analyst Ratings Changes

PH has been the topic of a number of research reports. Evercore set a $1,064.00 price target on Parker-Hannifin in a research note on Monday, May 11th. Weiss Ratings reiterated a “buy (b)” rating on shares of Parker-Hannifin in a research report on Friday, July 17th. BNP Paribas Exane reissued an “outperform” rating and issued a $1,220.00 target price (up from $1,090.00) on shares of Parker-Hannifin in a report on Friday, August 7th. JPMorgan Chase & Co. dropped their target price on Parker-Hannifin from $1,100.00 to $1,060.00 and set an “overweight” rating on the stock in a research report on Thursday, May 7th. Finally, BMO Capital Markets restated an “outperform” rating and set a $1,214.00 target price on shares of Parker-Hannifin in a research report on Friday, August 7th. Seventeen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $1,100.00.

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.