Parker-Hannifin Corporation $PH Stock Purchased by New York Life Investment Management LLC

New York Life Investment Management LLC lifted its holdings in shares of Parker-Hannifin Corporation (NYSE:PH) by 7.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,789 shares of the industrial products company’s stock after acquiring an additional 1,244 shares during the quarter. New York Life Investment Management LLC’s holdings in Parker-Hannifin were worth $17,951,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PH. E Fund Management Co. Ltd. boosted its holdings in Parker-Hannifin by 2.1% in the second quarter. E Fund Management Co. Ltd. now owns 477 shares of the industrial products company’s stock valued at $467,000 after acquiring an additional 10 shares in the last quarter. Allen Capital Group LLC raised its holdings in Parker-Hannifin by 4.8% in the 1st quarter. Allen Capital Group LLC now owns 264 shares of the industrial products company’s stock worth $236,000 after purchasing an additional 12 shares in the last quarter. Doliver Advisors LP lifted its position in shares of Parker-Hannifin by 0.6% in the 2nd quarter. Doliver Advisors LP now owns 2,011 shares of the industrial products company’s stock worth $1,967,000 after purchasing an additional 12 shares during the period. Bullock Wealth Management Group lifted its position in shares of Parker-Hannifin by 1.6% in the 3rd quarter. Bullock Wealth Management Group now owns 754 shares of the industrial products company’s stock worth $728,000 after purchasing an additional 12 shares during the period. Finally, Wedbush Securities Inc. lifted its position in shares of Parker-Hannifin by 0.8% in the 3rd quarter. Wedbush Securities Inc. now owns 1,510 shares of the industrial products company’s stock worth $1,442,000 after purchasing an additional 12 shares during the period. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Analyst Upgrades and Downgrades

PH has been the topic of a number of research reports. Raymond James Financial lifted their target price on shares of Parker-Hannifin from $1,050.00 to $1,250.00 and gave the company an “outperform” rating in a research note on Monday, August 10th. Susquehanna increased their price target on shares of Parker-Hannifin from $1,100.00 to $1,250.00 and gave the stock a “positive” rating in a research note on Friday, August 7th. KeyCorp raised 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. Wells Fargo & Company assumed 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. Finally, Stifel Nicolaus set a $1,002.00 price objective on Parker-Hannifin in a research report on Monday, October 19th. Eighteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Parker-Hannifin presently has a consensus rating of “Moderate Buy” and an average price target of $1,146.35.

Parker-Hannifin Price Performance

PH opened at $972.53 on Thursday. The stock has a fifty day simple moving average of $945.68 and a two-hundred day simple moving average of $949.65. The company has a current ratio of 0.94, a quick ratio of 0.55 and a debt-to-equity ratio of 0.79. The company has a market cap of $122.64 billion, a price-to-earnings ratio of 33.40, a price-to-earnings-growth ratio of 2.28 and a beta of 1.15. Parker-Hannifin Corporation has a 12-month low of $806.22 and a 12-month high of $1,099.94.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, November 5th. The industrial products company reported $8.90 EPS for the quarter, beating the consensus estimate of $8.21 by $0.69. Parker-Hannifin had a return on equity of 28.80% and a net margin of 16.62%. The business had revenue of $5.99 billion during the quarter, compared to analyst estimates of $5.81 billion. During the same quarter last year, the firm posted $7.22 earnings per share. The company’s revenue for the quarter was up 17.9% on a year-over-year basis. Parker-Hannifin has set its FY 2027 guidance at 36.450-37.250 EPS. Research analysts predict that Parker-Hannifin Corporation will post 37.07 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 4th. Investors of record on Friday, November 13th will be paid a $2.00 dividend. This represents a $8.00 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Friday, November 13th. Parker-Hannifin’s dividend payout ratio (DPR) is presently 27.47%.

Insider Activity

In related news, VP Berend Bracht sold 602 shares of Parker-Hannifin stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $1,040.47, for a total transaction of $626,362.94. Following the completion of 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.35% of the stock is currently owned by insiders.

Parker-Hannifin Company Profile

Parker-Hannifin is a global manufacturer of motion and control technologies. Its products include hydraulic and pneumatic systems, fluid connectors, filtration and sealing products, electromechanical components, and systems for aerospace and climate control applications. The company serves customers across industries such as aerospace, manufacturing, transportation, energy, and life sciences. Its operations span markets around the world, with businesses organized around industrial and aerospace products and services.