Parker-Hannifin Corporation $PH Stock Holdings Lifted by New York Life Investment Management LLC

New York Life Investment Management LLC grew its holdings in shares of Parker-Hannifin Corporation (NYSE:PH) by 7.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 18,789 shares of the industrial products company’s stock after acquiring an additional 1,244 shares during the quarter. New York Life Investment Management LLC’s holdings in Parker-Hannifin were worth $17,951,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in PH. Polaris Financial Partners bought a new position in shares of Parker-Hannifin during the 3rd quarter valued at $26,000. Latitude Advisors LLC purchased a new position in Parker-Hannifin in the 3rd quarter worth $27,000. Archer Investment Corp purchased a new position in Parker-Hannifin in the 2nd quarter worth $28,000. Team Financial Group LLC bought a new stake in Parker-Hannifin in the third quarter worth $28,000. Finally, Pension & Wealth Management Advisors Inc. bought a new stake in Parker-Hannifin in the third quarter worth $30,000. 82.44% of the stock is currently owned by institutional investors.

Insider Activity

In other news, VP Berend Bracht sold 602 shares of the stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $1,040.47, for a total transaction of $626,362.94. Following the completion of the sale, the vice president directly owned 4,399 shares in the company, valued at approximately $4,577,027.53. This represents a 12.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.35% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on PH. Wall Street Zen lowered shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a research report on Saturday, November 7th. KeyCorp raised their price objective on Parker-Hannifin from $1,100.00 to $1,210.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. BMO Capital Markets reiterated an “outperform” rating and issued a $1,214.00 price objective (up from $1,068.00) on shares of Parker-Hannifin in a report on Friday, August 7th. TD Cowen boosted their target price on Parker-Hannifin from $850.00 to $950.00 and gave the company a “hold” rating in a research note on Wednesday, October 14th. Finally, BNP Paribas Exane increased their target price on Parker-Hannifin from $1,220.00 to $1,270.00 and gave the company an “outperform” rating in a report on Friday, September 18th. Eighteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $1,146.35.

Parker-Hannifin Stock Up 0.8%

Shares of Parker-Hannifin stock opened at $972.53 on Thursday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.55 and a current ratio of 0.94. Parker-Hannifin Corporation has a 52-week low of $806.22 and a 52-week high of $1,099.94. The company’s 50 day moving average price is $945.68 and its 200-day moving average price is $949.65. The stock has a market capitalization of $122.64 billion, a price-to-earnings ratio of 33.40, a P/E/G ratio of 2.28 and a beta of 1.15.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings results on Thursday, November 5th. The industrial products company reported $8.90 EPS for the quarter, beating analysts’ consensus estimates of $8.21 by $0.69. The company had revenue of $5.99 billion during the quarter, compared to analyst estimates of $5.81 billion. Parker-Hannifin had a net margin of 16.62% and a return on equity of 28.80%. The firm’s revenue was up 17.9% compared to the same quarter last year. During the same period in the prior year, the business posted $7.22 EPS. Parker-Hannifin has set its FY 2027 guidance at 36.450-37.250 EPS. Equities research analysts forecast that Parker-Hannifin Corporation will post 37.07 EPS for the current year.

Parker-Hannifin Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 4th. Shareholders of record on Friday, November 13th will be given a $2.00 dividend. The ex-dividend date is Friday, November 13th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.8%. Parker-Hannifin’s payout ratio is presently 27.47%.

Parker-Hannifin Company Profile

Parker-Hannifin is a global manufacturer of motion and control technologies. Its products include hydraulic and pneumatic systems, fluid connectors, filtration and sealing products, electromechanical components, and systems for aerospace and climate control applications. The company serves customers across industries such as aerospace, manufacturing, transportation, energy, and life sciences. Its operations span markets around the world, with businesses organized around industrial and aerospace products and services.