C WorldWide Group Holding A S Trims Holdings in Parker-Hannifin Corporation $PH

C WorldWide Group Holding A S lessened its holdings in Parker-Hannifin Corporation (NYSE:PH) by 20.4% in the second quarter, Holdings Channel reports. The institutional investor owned 226,105 shares of the industrial products company’s stock after selling 58,096 shares during the period. Parker-Hannifin accounts for approximately 5.5% of C WorldWide Group Holding A S’s holdings, making the stock its 8th largest position. C WorldWide Group Holding A S’s holdings in Parker-Hannifin were worth $221,158,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Texas Capital Bancshares Inc TX acquired a new position in Parker-Hannifin in the 3rd quarter valued at approximately $25,000. Archer Investment Corp acquired a new position in Parker-Hannifin during the 2nd quarter worth approximately $28,000. 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. bought a new position in Parker-Hannifin in the fourth quarter worth approximately $31,000. Finally, NFSG Corp grew its stake in Parker-Hannifin by 94.4% in the first quarter. NFSG Corp now owns 35 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 17 shares during the period. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have commented on PH. Truist Financial boosted their price target on shares of Parker-Hannifin from $1,269.00 to $1,358.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Sanford C. Bernstein boosted their target price 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. Susquehanna upped their price objective on shares of Parker-Hannifin from $1,100.00 to $1,250.00 and gave the company a “positive” rating in a report on Friday, August 7th. BMO Capital Markets reissued an “outperform” rating and issued a $1,214.00 price target on shares of Parker-Hannifin in a research report on Friday, August 7th. Finally, Citigroup upped 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 two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $1,114.55.

Parker-Hannifin Price Performance

Parker-Hannifin stock opened at $956.22 on Wednesday. The stock has a market cap of $120.53 billion, a price-to-earnings ratio of 33.56, a PEG ratio of 2.62 and a beta of 1.13. The company has a quick ratio of 0.74, a current ratio of 1.26 and a debt-to-equity ratio of 0.44. The business has a 50-day simple moving average of $990.75 and a 200 day simple moving average of $948.51. Parker-Hannifin Corporation has a 52 week low of $715.37 and a 52 week high of $1,099.94.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings results 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 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 quarter last year, the company posted $7.69 EPS. The company’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. On average, research analysts forecast that Parker-Hannifin Corporation will post 35 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. Stockholders of record on Monday, August 31st will be given a dividend of $2.00 per share. The ex-dividend date is Monday, August 31st. This represents a $8.00 annualized dividend and a dividend yield of 0.8%. Parker-Hannifin’s dividend payout ratio (DPR) is 28.08%.

Insider Transactions at Parker-Hannifin

In related news, VP Berend Bracht sold 602 shares of the stock in a transaction on Wednesday, August 26th. The stock was 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 of the company’s stock, valued at $4,577,027.53. This represents a 12.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.32% of the company’s stock.

About Parker-Hannifin

Parker-Hannifin Corporation (NYSE:PH) is a diversified manufacturer of motion and control technologies. The company develops and produces systems and components that manage the movement and flow of liquids, gases and other materials for industrial, mobile and aerospace applications.

Its products include hydraulic and pneumatic systems, fluid connectors, filtration and process-control equipment, electromechanical technologies, seals, thermal-management solutions and aerospace systems. Parker-Hannifin serves manufacturers and operators in markets such as factory automation, transportation, energy, construction, life sciences and aviation.

Founded in 1917, Parker-Hannifin is headquartered in Cleveland, Ohio, and serves customers through manufacturing, distribution and sales operations across North America, Europe, Asia and other international markets.