Wealth High Governance Capital Ltda Reduces Stock Holdings in Parker-Hannifin Corporation $PH

Wealth High Governance Capital Ltda trimmed its holdings in shares of Parker-Hannifin Corporation (NYSE:PH) by 21.4% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 16,560 shares of the industrial products company’s stock after selling 4,508 shares during the period. Parker-Hannifin comprises approximately 4.8% of Wealth High Governance Capital Ltda’s investment portfolio, making the stock its 3rd biggest position. Wealth High Governance Capital Ltda’s holdings in Parker-Hannifin were worth $16,198,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in shares of Parker-Hannifin by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 11,142,535 shares of the industrial products company’s stock worth $9,793,843,000 after acquiring an additional 33,606 shares in the last quarter. BlackRock Inc. acquired a new stake in shares of Parker-Hannifin during the second quarter worth $10,163,362,000. Bank of America Corp DE raised its position in shares of Parker-Hannifin by 0.6% during the fourth quarter. Bank of America Corp DE now owns 3,926,896 shares of the industrial products company’s stock worth $3,451,584,000 after purchasing an additional 22,305 shares during the period. Capital World Investors lifted its holdings in shares of Parker-Hannifin by 0.6% during the fourth quarter. Capital World Investors now owns 2,600,844 shares of the industrial products company’s stock valued at $2,286,038,000 after purchasing an additional 16,703 shares during the last quarter. Finally, Morgan Stanley boosted its position in shares of Parker-Hannifin by 1.1% in the 4th quarter. Morgan Stanley now owns 2,133,044 shares of the industrial products company’s stock valued at $1,874,862,000 after purchasing an additional 22,367 shares during the period. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Stock Up 0.1%

NYSE:PH opened at $1,002.90 on Monday. The firm has a market capitalization of $126.46 billion, a price-to-earnings ratio of 35.20, a PEG ratio of 2.61 and a beta of 1.12. Parker-Hannifin Corporation has a 1-year low of $715.37 and a 1-year high of $1,099.94. 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 business’s fifty day moving average price is $984.42 and its 200 day moving average price is $948.72.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, August 6th. The industrial products company reported $9.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.31 by $0.96. Parker-Hannifin had a return on equity of 28.48% and a net margin of 16.97%.The firm had revenue of $5.75 billion during the quarter, compared to the consensus estimate of $5.57 billion. During the same period in the prior year, the business earned $7.69 EPS. The business’s revenue for the quarter was up 9.8% on a year-over-year basis. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. On average, sell-side analysts forecast that Parker-Hannifin Corporation will post 34.93 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

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

Wall Street Analyst Weigh In

PH has been the topic of a number of analyst reports. JPMorgan Chase & Co. dropped their price target on Parker-Hannifin from $1,100.00 to $1,060.00 and set an “overweight” rating on the stock in a research note on Thursday, May 7th. Weiss Ratings reiterated a “buy (b)” rating on shares of Parker-Hannifin in a report on Friday, July 17th. Wall Street Zen downgraded shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a research report on Saturday. Citigroup boosted their price target on shares of Parker-Hannifin from $1,141.00 to $1,232.00 and gave the company a “buy” rating in a report on Friday, August 7th. Finally, UBS Group upped their price target on shares of 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 given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $1,100.00.

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.