Headlands Technologies LLC Cuts Stake in Parker-Hannifin Corporation $PH

Headlands Technologies LLC lowered its stake in shares of Parker-Hannifin Corporation (NYSE:PH) by 69.8% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 877 shares of the industrial products company’s stock after selling 2,026 shares during the period. Headlands Technologies LLC’s holdings in Parker-Hannifin were worth $858,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in the stock. BlackRock Inc. bought a new stake in Parker-Hannifin in the second quarter worth about $10,163,362,000. Bank of America Corp DE grew its position in shares of Parker-Hannifin by 0.6% during the 4th quarter. Bank of America Corp DE now owns 3,926,896 shares of the industrial products company’s stock valued at $3,451,584,000 after acquiring an additional 22,305 shares during the period. Capital World Investors increased its stake in shares of Parker-Hannifin by 0.6% during the 4th quarter. Capital World Investors now owns 2,600,844 shares of the industrial products company’s stock worth $2,286,038,000 after purchasing an additional 16,703 shares during the last quarter. Morgan Stanley increased its stake in shares of Parker-Hannifin by 1.1% during the 4th quarter. Morgan Stanley now owns 2,133,044 shares of the industrial products company’s stock worth $1,874,862,000 after purchasing an additional 22,367 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Parker-Hannifin in the 4th quarter worth approximately $1,756,230,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Stifel Nicolaus set a $1,075.00 price objective on Parker-Hannifin in a research note on Friday, August 7th. Susquehanna raised their target price on Parker-Hannifin from $1,100.00 to $1,250.00 and gave the stock a “positive” rating in a research report on Friday, August 7th. Truist Financial boosted 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. Sanford C. Bernstein upped their price target on Parker-Hannifin from $1,037.00 to $1,218.00 and gave the company an “outperform” rating in a research report on Friday, August 14th. Finally, Wells Fargo & Company dropped their price target on Parker-Hannifin from $980.00 to $950.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 26th. Seventeen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $1,100.00.

Parker-Hannifin Stock Performance

NYSE PH opened at $950.80 on Wednesday. The company’s 50 day moving average is $992.08 and its 200-day moving average is $949.89. Parker-Hannifin Corporation has a 12-month low of $715.37 and a 12-month high of $1,099.94. 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 firm has a market cap of $119.85 billion, a P/E ratio of 33.37, a price-to-earnings-growth ratio of 2.55 and a beta of 1.13.

Parker-Hannifin (NYSE:PH) last announced its quarterly 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 company 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%. Parker-Hannifin’s revenue was up 9.8% compared to the same quarter last year. During the same period in the prior year, the company posted $7.69 EPS. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. Sell-side analysts predict that Parker-Hannifin Corporation will post 34.93 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Monday, August 31st will be given a dividend of $2.00 per share. The ex-dividend date is Monday, August 31st. This represents a $8.00 annualized dividend and a dividend yield of 0.8%. Parker-Hannifin’s dividend payout ratio is currently 28.08%.

Insider Activity

In other news, VP Berend Bracht sold 602 shares of the firm’s stock in a transaction on Wednesday, August 26th. The stock was 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 of the company’s stock, valued at $4,577,027.53. This trade represents a 12.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.32% of the stock is currently owned by corporate insiders.

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.