Ninety One UK Ltd Makes New Investment in Parker-Hannifin Corporation $PH

Ninety One UK Ltd purchased a new position in Parker-Hannifin Corporation (NYSE:PH) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 640 shares of the industrial products company’s stock, valued at approximately $611,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Polaris Financial Partners purchased a new stake in shares of Parker-Hannifin during the third quarter valued at $26,000. Archer Investment Corp acquired a new stake in Parker-Hannifin during the 2nd quarter worth about $28,000. NFSG Corp lifted its position in Parker-Hannifin by 94.4% during the 1st quarter. NFSG Corp now owns 35 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 17 shares during the period. Bell Investment Advisors Inc acquired a new stake in Parker-Hannifin during the 2nd quarter worth about $35,000. Finally, Brown Lisle Cummings Inc. grew its stake in Parker-Hannifin by 76.0% during the 1st quarter. Brown Lisle Cummings Inc. now owns 44 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 19 shares during the last quarter. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on PH shares. The Goldman Sachs Group increased their price objective on Parker-Hannifin from $1,071.00 to $1,165.00 and gave the company a “buy” rating in a report on Friday, August 7th. Wells Fargo & Company initiated coverage on Parker-Hannifin in a research note on Thursday, September 24th. They issued an “equal weight” rating and a $1,050.00 price objective for the company. Jefferies Financial Group lifted their target price on Parker-Hannifin from $1,100.00 to $1,275.00 in a report on Friday, August 7th. Raymond James Financial lifted their target price on Parker-Hannifin from $1,050.00 to $1,250.00 and gave the stock an “outperform” rating in a report on Monday, August 10th. Finally, UBS Group set a $950.00 target price on Parker-Hannifin in a research report on Wednesday. Eighteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $1,149.52.

Insider Buying and Selling at Parker-Hannifin

In other news, VP Berend Bracht sold 602 shares of the business’s stock in a transaction dated 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 owned 4,399 shares of the company’s stock, valued at $4,577,027.53. The trade was a 12.04% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.35% of the company’s stock.

Parker-Hannifin Trading Up 0.7%

Shares of Parker-Hannifin stock opened at $962.94 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.26 and a quick ratio of 0.74. The firm has a fifty day moving average price of $982.40 and a 200 day moving average price of $949.90. Parker-Hannifin Corporation has a 1 year low of $721.17 and a 1 year high of $1,099.94. The stock has a market cap of $121.44 billion, a PE ratio of 33.80, a price-to-earnings-growth ratio of 2.67 and a beta of 1.12.

Parker-Hannifin (NYSE:PH) last posted its earnings results on Thursday, August 6th. The industrial products company reported $9.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.31 by $0.96. Parker-Hannifin had a net margin of 16.97% and a return on equity of 28.48%. The company had revenue of $5.75 billion during the quarter, compared to the consensus estimate of $5.57 billion. During the same period in the previous year, the firm posted $7.69 earnings per share. The firm’s quarterly revenue was up 9.8% on a year-over-year basis. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. Equities research analysts predict that Parker-Hannifin Corporation will post 35.56 earnings per share for the current 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 paid a dividend of $2.00 per share. The ex-dividend date was Monday, August 31st. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.8%. Parker-Hannifin’s dividend payout ratio (DPR) is presently 28.08%.

Parker-Hannifin Profile

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.