Legal & General Group Plc Has $699.69 Million Holdings in Parker-Hannifin Corporation $PH

Legal & General Group Plc lessened its stake in shares of Parker-Hannifin Corporation (NYSE:PH) by 6.3% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 715,343 shares of the industrial products company’s stock after selling 48,191 shares during the quarter. Legal & General Group Plc owned about 0.57% of Parker-Hannifin worth $699,691,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Texas Capital Bancshares Inc TX bought a new stake in Parker-Hannifin during the third quarter worth approximately $25,000. HFM Investment Advisors LLC boosted its holdings in shares of Parker-Hannifin by 1,000.0% during the 4th quarter. HFM Investment Advisors LLC now owns 33 shares of the industrial products company’s stock worth $29,000 after buying an additional 30 shares during the period. Lloyd Advisory Services LLC. acquired a new position in Parker-Hannifin in the 4th quarter valued at $31,000. NFSG Corp raised its holdings in Parker-Hannifin by 94.4% in 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. Finally, First Command Advisory Services Inc. lifted its position in Parker-Hannifin by 1,133.3% during the 4th quarter. First Command Advisory Services Inc. now owns 37 shares of the industrial products company’s stock worth $33,000 after acquiring an additional 34 shares during the last quarter. 82.44% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Stifel Nicolaus set a $1,075.00 price target on shares of Parker-Hannifin in a report on Friday, August 7th. JPMorgan Chase & Co. cut their price objective on Parker-Hannifin from $1,100.00 to $1,060.00 and set an “overweight” rating for the company in a research report on Thursday, May 7th. Mizuho set a $1,050.00 target price on Parker-Hannifin in a research note on Friday, May 1st. Citigroup raised their target price on 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, Truist Financial lifted their price target on Parker-Hannifin from $1,269.00 to $1,358.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Seventeen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, Parker-Hannifin currently has a consensus rating of “Moderate Buy” and an average target price of $1,100.00.

Parker-Hannifin Stock Performance

NYSE PH opened at $1,014.87 on Tuesday. The company’s fifty day moving average is $986.33 and its two-hundred day moving average is $949.08. Parker-Hannifin Corporation has a 52-week low of $715.37 and a 52-week high of $1,099.94. 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 market capitalization of $127.96 billion, a price-to-earnings ratio of 35.62, a P/E/G ratio of 2.61 and a beta of 1.12.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data 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. Parker-Hannifin had a net margin of 16.97% and a return on equity of 28.48%. The business had revenue of $5.75 billion during the quarter, compared to analyst estimates of $5.57 billion. During the same quarter in the prior year, the business earned $7.69 earnings per share. The firm’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. Equities research analysts forecast that Parker-Hannifin Corporation will post 34.93 EPS for the current year.

Parker-Hannifin Dividend Announcement

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

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.