Man Group plc Buys 64,507 Shares of Parker-Hannifin Corporation $PH

Man Group plc grew its stake in shares of Parker-Hannifin Corporation (NYSE:PH) by 67.3% during the 2nd quarter, Holdings Channel.com reports. The firm owned 160,372 shares of the industrial products company’s stock after buying an additional 64,507 shares during the quarter. Man Group plc’s holdings in Parker-Hannifin were worth $156,863,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Texas Capital Bancshares Inc TX acquired a new stake in shares of Parker-Hannifin in the 3rd quarter valued at about $25,000. HFM Investment Advisors LLC raised its stake in 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 during the 4th quarter worth approximately $31,000. NFSG Corp boosted its holdings in Parker-Hannifin by 94.4% in the first quarter. NFSG Corp now owns 35 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 17 shares in the last quarter. Finally, First Command Advisory Services Inc. boosted its holdings in Parker-Hannifin by 1,133.3% in the fourth 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 in the last quarter. Institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Price Performance

Shares of NYSE PH opened at $1,015.36 on Wednesday. The stock has a market cap of $127.99 billion, a price-to-earnings ratio of 35.64, a PEG ratio of 2.64 and a beta of 1.12. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.74 and a current ratio of 1.26. Parker-Hannifin Corporation has a fifty-two week low of $715.37 and a fifty-two week high of $1,099.94. The firm’s 50-day simple moving average is $987.88 and its 200 day simple moving average is $949.41.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings data on Thursday, August 6th. The industrial products company reported $9.27 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 posted $7.69 earnings per share. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. As a group, research analysts anticipate that Parker-Hannifin Corporation will post 34.93 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on PH shares. Sanford C. Bernstein raised their price objective on 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. JPMorgan Chase & Co. lowered their target price on Parker-Hannifin from $1,100.00 to $1,060.00 and set an “overweight” rating on the stock in a research report on Thursday, May 7th. Wall Street Zen cut Parker-Hannifin from a “buy” rating to a “hold” rating in a report on Saturday. Wells Fargo & Company reduced their price target on shares of Parker-Hannifin from $980.00 to $950.00 and set an “overweight” rating for the company in a research report on Tuesday, May 26th. Finally, 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 research note 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 company. According to MarketBeat.com, Parker-Hannifin presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,100.00.

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.