Engineers Gate Manager LP Has $54.98 Million Stock Holdings in Parker-Hannifin Corporation $PH

Engineers Gate Manager LP trimmed its position in Parker-Hannifin Corporation (NYSE:PH) by 27.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 56,210 shares of the industrial products company’s stock after selling 21,347 shares during the quarter. Parker-Hannifin makes up 0.7% of Engineers Gate Manager LP’s portfolio, making the stock its 13th biggest position. Engineers Gate Manager LP’s holdings in Parker-Hannifin were worth $54,980,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the business. Texas Capital Bancshares Inc TX bought a new stake in shares of Parker-Hannifin during the third quarter worth approximately $25,000. Archer Investment Corp acquired a new stake in Parker-Hannifin during the 2nd quarter worth $28,000. HFM Investment Advisors LLC grew its holdings 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 acquiring an additional 30 shares during the period. Lloyd Advisory Services LLC. bought a new stake in shares of Parker-Hannifin during the 4th quarter valued at $31,000. Finally, NFSG Corp lifted its stake in shares of Parker-Hannifin by 94.4% in the 1st quarter. NFSG Corp now owns 35 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 17 shares during the period. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, VP Berend Bracht sold 602 shares of the stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $1,040.47, for a total transaction of $626,362.94. Following the completion of the transaction, the vice president directly owned 4,399 shares in the company, valued at $4,577,027.53. This represents a 12.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.32% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms recently commented on PH. Citigroup upped their price objective on Parker-Hannifin from $1,141.00 to $1,232.00 and gave the company a “buy” rating in a report on Friday, August 7th. Sanford C. Bernstein boosted their price objective 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. KeyCorp increased their target price on shares of Parker-Hannifin from $1,100.00 to $1,210.00 and gave the stock an “overweight” 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 report on Friday, August 7th. Finally, Stifel Nicolaus set a $1,075.00 price objective on shares of Parker-Hannifin in a research report on Friday, August 7th. Seventeen investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Parker-Hannifin has a consensus rating of “Moderate Buy” and an average price target of $1,114.55.

Parker-Hannifin Stock Performance

Shares of Parker-Hannifin stock opened at $956.22 on Wednesday. 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 firm has a market cap of $120.53 billion, a price-to-earnings ratio of 33.56, a price-to-earnings-growth ratio of 2.62 and a beta of 1.13. The stock’s 50-day moving average is $990.75 and its 200-day moving average is $948.51. Parker-Hannifin Corporation has a one year low of $715.37 and a one year 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 (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 business had revenue of $5.75 billion for the quarter, compared to analyst estimates of $5.57 billion. During the same quarter last year, the firm earned $7.69 EPS. Parker-Hannifin’s revenue for the quarter 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. Equities analysts predict that Parker-Hannifin Corporation will post 35 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

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

Parker-Hannifin Company Profile

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.