Parker-Hannifin Corporation $PH Stock: Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Decreases Position

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA decreased its position in Parker-Hannifin Corporation (NYSE:PH) by 0.4% during the 3rd quarter, Holdings Channel reports. The firm owned 204,004 shares of the industrial products company’s stock after selling 894 shares during the quarter. Parker-Hannifin comprises about 1.9% of Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings, making the stock its 17th biggest position. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Parker-Hannifin were worth $194,910,000 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 position in shares of Parker-Hannifin during the 2nd quarter worth $10,163,362,000. State Street Corp boosted its position in shares of Parker-Hannifin by 0.5% in the 2nd quarter. State Street Corp now owns 9,385,389 shares of the industrial products company’s stock worth $9,180,037,000 after buying an additional 42,548 shares in the last quarter. Bank of America Corp DE purchased a new stake in shares of Parker-Hannifin in the 2nd quarter worth about $3,273,507,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Parker-Hannifin by 2.5% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,032,942 shares of the industrial products company’s stock valued at $1,010,341,000 after acquiring an additional 25,167 shares during the last quarter. Finally, Deutsche Bank AG acquired a new stake in Parker-Hannifin in the 2nd quarter valued at about $987,587,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Analysts Set New Price Targets

PH has been the subject of several recent research reports. Sanford C. Bernstein raised 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. Citigroup upped their price target on shares of Parker-Hannifin from $1,232.00 to $1,234.00 and gave the company a “buy” rating in a report on Monday, October 12th. Wells Fargo & Company started coverage on shares of Parker-Hannifin in a report on Thursday, September 24th. They issued an “equal weight” rating and a $1,050.00 price target on the stock. BMO Capital Markets reiterated an “outperform” rating and issued a $1,214.00 price target (up from $1,068.00) on shares of Parker-Hannifin in a research report on Friday, August 7th. Finally, KeyCorp raised their price objective on shares of Parker-Hannifin from $1,100.00 to $1,210.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Eighteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,146.35.

Insiders Place Their Bets

In other Parker-Hannifin news, VP Berend Bracht sold 602 shares of the company’s stock in a transaction dated Wednesday, August 26th. The shares were 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 in the company, valued at approximately $4,577,027.53. This represents a 12.04% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.35% of the company’s stock.

Parker-Hannifin Stock Performance

NYSE PH opened at $880.03 on Monday. Parker-Hannifin Corporation has a fifty-two week low of $755.10 and a fifty-two week high of $1,099.94. The stock has a market cap of $110.98 billion, a price-to-earnings ratio of 30.89, a price-to-earnings-growth ratio of 2.45 and a beta of 1.12. The business has a fifty day moving average of $966.89 and a 200-day moving average of $951.31. The company has a quick ratio of 0.74, a current ratio of 1.26 and a debt-to-equity ratio of 0.44.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings data on Thursday, August 6th. The industrial products company reported $9.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.31 by $0.96. The business had revenue of $5.75 billion for the quarter, compared to the consensus estimate of $5.57 billion. Parker-Hannifin had a return on equity of 28.48% and a net margin of 16.97%. The business’s revenue was up 9.8% on a year-over-year basis. During the same period in the prior year, the business earned $7.69 earnings per share. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. As a group, analysts predict that Parker-Hannifin Corporation will post 35.72 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 11th. Investors of record on Monday, August 31st were paid a $2.00 dividend. The ex-dividend date of this dividend was Monday, August 31st. This represents a $8.00 annualized dividend and a yield of 0.9%. Parker-Hannifin’s payout ratio is presently 28.08%.

About Parker-Hannifin

Parker-Hannifin Corporation is a diversified manufacturer of motion and control technologies and systems. The company serves aerospace, industrial, and other specialized markets with products designed to control the movement and flow of liquids and gases, as well as mechanical motion and power.

Its product portfolio includes hydraulic and pneumatic systems, filtration and process-control equipment, electromechanical technologies, sealing and shielding products, connectors, pumps, valves, and related components.