Royal London Asset Management Ltd. Cuts Stake in Parker-Hannifin Corporation $PH

Royal London Asset Management Ltd. cut its stake in Parker-Hannifin Corporation (NYSE:PH) by 1.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 125,644 shares of the industrial products company’s stock after selling 2,483 shares during the quarter. Royal London Asset Management Ltd. owned approximately 0.10% of Parker-Hannifin worth $122,895,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. BlackRock Inc. acquired a new stake in Parker-Hannifin during the 2nd quarter worth $10,163,362,000. Bank of America Corp DE purchased a new position in shares of Parker-Hannifin in the second quarter worth about $3,273,507,000. Norges Bank purchased a new position in shares of Parker-Hannifin in the fourth quarter worth about $1,756,230,000. Deutsche Bank AG acquired a new position in Parker-Hannifin during the second quarter worth about $987,587,000. Finally, Bank of New York Mellon Corp purchased a new stake in Parker-Hannifin during the 2nd quarter valued at about $712,222,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Insider Transactions at Parker-Hannifin

In other Parker-Hannifin news, VP Berend Bracht sold 602 shares of the firm’s stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $1,040.47, for a total transaction of $626,362.94. Following the transaction, the vice president owned 4,399 shares of the company’s stock, valued at approximately $4,577,027.53. This trade represents a 12.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.32% of the stock is owned by corporate insiders.

Parker-Hannifin Trading Down 1.6%

PH opened at $995.24 on Friday. The business has a fifty day moving average price of $991.71 and a 200 day moving average price of $950.48. 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 Corporation has a 12 month low of $715.37 and a 12 month high of $1,099.94. The stock has a market capitalization of $125.45 billion, a price-to-earnings ratio of 34.93, a PEG ratio of 2.63 and a beta of 1.12.

Parker-Hannifin (NYSE:PH) last released 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 business had revenue of $5.75 billion during the quarter, compared to analysts’ expectations of $5.57 billion. During the same period in the prior year, the firm posted $7.69 EPS. The business’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. Sell-side analysts expect that Parker-Hannifin Corporation will post 34.93 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

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 $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 0.8%. The ex-dividend date is Monday, August 31st. Parker-Hannifin’s dividend payout ratio is currently 28.08%.

Wall Street Analysts Forecast Growth

PH has been the subject of a number of research reports. Susquehanna boosted their price objective on Parker-Hannifin from $1,100.00 to $1,250.00 and gave the company a “positive” rating in a report on Friday, August 7th. Sanford C. Bernstein raised their target price on Parker-Hannifin from $1,037.00 to $1,218.00 and gave the company an “outperform” rating in a report on Friday, August 14th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $1,214.00 target price on shares of Parker-Hannifin in a research report on Friday, August 7th. BNP Paribas Exane reiterated an “outperform” rating and set a $1,220.00 price target (up from $1,090.00) on shares of Parker-Hannifin in a research note on Friday, August 7th. Finally, Stifel Nicolaus set a $1,075.00 price target on shares of Parker-Hannifin in a research report on Friday, August 7th. Seventeen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $1,100.00.

About Parker-Hannifin

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.