Evolve Private Wealth LLC Sells 611 Shares of Parker-Hannifin Corporation $PH

Evolve Private Wealth LLC reduced its position in shares of Parker-Hannifin Corporation (NYSE:PH) by 66.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 313 shares of the industrial products company’s stock after selling 611 shares during the period. Evolve Private Wealth LLC’s holdings in Parker-Hannifin were worth $306,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Texas Capital Bancshares Inc TX bought a new position in shares of Parker-Hannifin in the third quarter worth approximately $25,000. HFM Investment Advisors LLC grew its stake in Parker-Hannifin by 1,000.0% in 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 in the last quarter. Lloyd Advisory Services LLC. bought a new position in shares of Parker-Hannifin in the 4th quarter worth $31,000. NFSG Corp lifted its holdings in shares of Parker-Hannifin by 94.4% during the 1st quarter. NFSG Corp now owns 35 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 17 shares during the last quarter. Finally, Bell Investment Advisors Inc purchased a new position in Parker-Hannifin in the second quarter worth $35,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Stock Performance

Shares of PH stock opened at $1,040.76 on Thursday. The company has a market capitalization of $131.19 billion, a P/E ratio of 36.53, a PEG ratio of 2.65 and a beta of 1.12. Parker-Hannifin Corporation has a fifty-two week low of $715.37 and a fifty-two week high of $1,099.94. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.74 and a current ratio of 1.26. The stock has a 50 day moving average price of $989.76 and a two-hundred day moving average price of $949.93.

Parker-Hannifin (NYSE:PH) last issued its earnings results 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 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 the consensus estimate of $5.57 billion. During the same period in the previous year, the firm earned $7.69 earnings per share. The firm’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. Analysts expect that Parker-Hannifin Corporation will post 34.93 earnings per share for the current year.

Parker-Hannifin Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Sanford C. Bernstein raised their price target on Parker-Hannifin from $1,037.00 to $1,218.00 and gave the company an “outperform” rating in a research report on Friday, August 14th. Mizuho set a $1,050.00 price objective on Parker-Hannifin in a research report on Friday, May 1st. BMO Capital Markets reissued an “outperform” rating and set a $1,214.00 price objective on shares of Parker-Hannifin in a report on Friday, August 7th. Evercore set a $1,064.00 target price on Parker-Hannifin in a research report on Monday, May 11th. Finally, Citigroup upped their target price on Parker-Hannifin from $1,141.00 to $1,232.00 and gave the stock 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 issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target 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.