Parker-Hannifin Corporation $PH Shares Purchased by NEOS Investment Management LLC

NEOS Investment Management LLC raised its position in shares of Parker-Hannifin Corporation (NYSE:PH) by 14.0% in the second quarter, Holdings Channel.com reports. The fund owned 20,619 shares of the industrial products company’s stock after buying an additional 2,526 shares during the quarter. NEOS Investment Management LLC’s holdings in Parker-Hannifin were worth $20,168,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. BlackRock Inc. acquired a new stake in Parker-Hannifin during the 2nd quarter worth approximately $10,163,362,000. Bank of America Corp DE acquired a new position in Parker-Hannifin during the second quarter valued at approximately $3,273,507,000. Norges Bank purchased a new stake in Parker-Hannifin during the fourth quarter worth approximately $1,756,230,000. Deutsche Bank AG acquired a new stake in shares of Parker-Hannifin in the second quarter worth $987,587,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Parker-Hannifin in the second quarter worth $712,222,000. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Parker-Hannifin

In other Parker-Hannifin news, VP Berend Bracht sold 602 shares of the company’s stock in a transaction that occurred 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 directly owned 4,399 shares of the company’s stock, valued at $4,577,027.53. This represents a 12.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.32% of the stock is owned by corporate insiders.

Parker-Hannifin Stock Performance

Shares of PH stock opened at $962.40 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.26 and a quick ratio of 0.74. The company’s fifty day moving average price is $991.22 and its two-hundred day moving average price is $949.50. The firm has a market capitalization of $121.31 billion, a P/E ratio of 33.78, a P/E/G ratio of 2.64 and a beta of 1.13. Parker-Hannifin Corporation has a 12 month low of $715.37 and a 12 month high of $1,099.94.

Parker-Hannifin (NYSE:PH) last announced its earnings results on Thursday, August 6th. The industrial products company reported $9.27 earnings per share for the quarter, beating 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 company had revenue of $5.75 billion during the quarter, compared to the consensus estimate of $5.57 billion. During the same period last year, the firm earned $7.69 earnings per share. The company’s revenue 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 anticipate that Parker-Hannifin Corporation will post 34.83 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Monday, August 31st will be issued 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 payout ratio is currently 28.08%.

Analysts Set New Price Targets

PH has been the topic of several recent research reports. Sanford C. Bernstein lifted their target price on shares of Parker-Hannifin from $1,037.00 to $1,218.00 and gave the company an “outperform” rating in a report on Friday, August 14th. Truist Financial boosted their price objective on Parker-Hannifin from $1,269.00 to $1,358.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. BNP Paribas Exane reaffirmed an “outperform” rating and issued a $1,220.00 target price (up from $1,090.00) on shares of Parker-Hannifin in a research report on Friday, August 7th. Evercore set a $1,064.00 target price on Parker-Hannifin in a research note on Monday, May 11th. Finally, Wall Street Zen downgraded Parker-Hannifin from a “buy” rating to a “hold” rating in a report on Saturday, August 22nd. Seventeen 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, Parker-Hannifin has an average rating of “Moderate Buy” and a consensus price target of $1,114.55.

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.