Ieq Capital LLC Boosts Holdings in Parker-Hannifin Corporation $PH

Ieq Capital LLC boosted its stake in Parker-Hannifin Corporation (NYSE:PH) by 396.1% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 6,122 shares of the industrial products company’s stock after purchasing an additional 4,888 shares during the period. Ieq Capital LLC’s holdings in Parker-Hannifin were worth $5,988,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PH. Vanguard Group Inc. increased its stake in shares of Parker-Hannifin by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 11,142,535 shares of the industrial products company’s stock worth $9,793,843,000 after purchasing an additional 33,606 shares during the last quarter. BlackRock Inc. purchased a new position in Parker-Hannifin in the second quarter valued at approximately $10,163,362,000. Bank of America Corp DE grew its holdings in Parker-Hannifin by 0.6% during the fourth quarter. Bank of America Corp DE now owns 3,926,896 shares of the industrial products company’s stock valued at $3,451,584,000 after purchasing an additional 22,305 shares during the period. Capital World Investors grew its holdings in Parker-Hannifin by 0.6% during the fourth quarter. Capital World Investors now owns 2,600,844 shares of the industrial products company’s stock valued at $2,286,038,000 after purchasing an additional 16,703 shares during the period. Finally, Morgan Stanley increased its position in Parker-Hannifin by 1.1% in the fourth quarter. Morgan Stanley now owns 2,133,044 shares of the industrial products company’s stock worth $1,874,862,000 after buying an additional 22,367 shares during the last quarter. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Parker-Hannifin Price Performance

PH stock opened at $1,002.90 on Monday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.26 and a quick ratio of 0.74. Parker-Hannifin Corporation has a one year low of $715.37 and a one year high of $1,099.94. The stock has a market cap of $126.46 billion, a PE ratio of 35.20, a P/E/G ratio of 2.61 and a beta of 1.12. The firm has a 50 day simple moving average of $984.42 and a two-hundred day simple moving average of $948.72.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, August 6th. The industrial products company reported $9.27 earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of $5.57 billion. During the same period in the prior year, the business earned $7.69 EPS. The company’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. On average, analysts predict that Parker-Hannifin Corporation will post 34.93 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

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

Analyst Ratings Changes

Several brokerages have issued reports on PH. Stifel Nicolaus set a $1,075.00 target price on Parker-Hannifin in a research note on Friday, August 7th. Citigroup increased their price target 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. BNP Paribas Exane reissued an “outperform” rating and issued a $1,220.00 price objective (up from $1,090.00) on shares of Parker-Hannifin in a report on Friday, August 7th. Wall Street Zen cut Parker-Hannifin from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, UBS Group upped their price objective on shares of Parker-Hannifin from $1,092.00 to $1,250.00 and gave the company a “buy” rating in a report on Friday, August 7th. Seventeen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $1,100.00.

About Parker-Hannifin

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.