670 Parker-Hannifin Corporation $PH Shares Acquired by Sterling Capital Management LLC

Sterling Capital Management LLC grew its holdings in shares of Parker-Hannifin Corporation (NYSE:PH) by 9.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 7,935 shares of the industrial products company’s stock after purchasing an additional 670 shares during the quarter. Sterling Capital Management LLC’s holdings in Parker-Hannifin were worth $7,581,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. XXI Wealth LLC grew its holdings in Parker-Hannifin by 8.0% in the third quarter. XXI Wealth LLC now owns 3,411 shares of the industrial products company’s stock valued at $3,259,000 after purchasing an additional 254 shares during the period. Seven Mile Advisory grew its position in Parker-Hannifin by 13.1% during the third quarter. Seven Mile Advisory now owns 311 shares of the industrial products company’s stock valued at $297,000 after acquiring an additional 36 shares during the period. MBL Wealth LLC purchased a new position in shares of Parker-Hannifin in the 3rd quarter worth about $332,000. SeaCrest Wealth Management LLC raised its holdings in shares of Parker-Hannifin by 6.2% in the 3rd quarter. SeaCrest Wealth Management LLC now owns 1,570 shares of the industrial products company’s stock worth $1,500,000 after purchasing an additional 91 shares during the period. Finally, Root Financial Partners LLC lifted its stake in shares of Parker-Hannifin by 12.1% in the 3rd quarter. Root Financial Partners LLC now owns 324 shares of the industrial products company’s stock valued at $310,000 after purchasing an additional 35 shares in the last quarter. 82.44% of the stock is owned by institutional investors and hedge funds.

Parker-Hannifin Stock Down 1.5%

NYSE PH traded down $13.18 on Friday, reaching $880.03. The company had a trading volume of 884,243 shares, compared to its average volume of 545,080. The firm has a market capitalization of $110.98 billion, a PE ratio of 30.89, a P/E/G ratio of 2.49 and a beta of 1.12. Parker-Hannifin Corporation has a 1 year low of $755.10 and a 1 year high of $1,099.94. The firm has a 50-day moving average of $966.89 and a 200-day moving average of $951.03. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.26 and a quick ratio of 0.74.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data 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 for the quarter, compared to analyst estimates of $5.57 billion. During the same quarter last year, the firm posted $7.69 earnings per share. The business’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. On average, equities research analysts anticipate that Parker-Hannifin Corporation will post 35.72 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 11th. Investors of record on Monday, August 31st were paid a dividend of $2.00 per share. The ex-dividend date of this dividend was Monday, August 31st. This represents a $8.00 annualized dividend and a yield of 0.9%. Parker-Hannifin’s payout ratio is 28.08%.

Insider Buying and Selling

In other Parker-Hannifin news, VP Berend Bracht sold 602 shares of the business’s stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $1,040.47, for a total value of $626,362.94. Following the transaction, the vice president owned 4,399 shares in the company, 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. 0.35% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Robert W. Baird lifted their price target on shares of Parker-Hannifin from $1,050.00 to $1,275.00 in a research report on Friday, August 7th. Sanford C. Bernstein raised their target price on shares of Parker-Hannifin from $1,037.00 to $1,218.00 and gave the company an “outperform” rating in a research note on Friday, August 14th. Wells Fargo & Company started coverage on shares of Parker-Hannifin in a report on Thursday, September 24th. They set an “equal weight” rating and a $1,050.00 target price on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Parker-Hannifin in a research report on Thursday, October 15th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $1,214.00 price target (up from $1,068.00) on shares of Parker-Hannifin in a report on Friday, August 7th. Eighteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, Parker-Hannifin has an average rating of “Moderate Buy” and an average target price of $1,146.35.

Parker-Hannifin Profile

Parker-Hannifin Corporation is a diversified manufacturer of motion and control technologies and systems. The company serves aerospace, industrial, and other specialized markets with products designed to control the movement and flow of liquids and gases, as well as mechanical motion and power.

Its product portfolio includes hydraulic and pneumatic systems, filtration and process-control equipment, electromechanical technologies, sealing and shielding products, connectors, pumps, valves, and related components.