Corient Private Wealth LP Sells 34,573 Shares of Parker-Hannifin Corporation $PH

Corient Private Wealth LP trimmed its holdings in shares of Parker-Hannifin Corporation (NYSE:PH) by 16.5% in the 2nd quarter, Holdings Channel.com reports. The firm owned 175,005 shares of the industrial products company’s stock after selling 34,573 shares during the period. Corient Private Wealth LP’s holdings in Parker-Hannifin were worth $171,176,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in PH. E Fund Management Co. Ltd. increased its position in Parker-Hannifin by 2.1% during the 2nd quarter. E Fund Management Co. Ltd. now owns 477 shares of the industrial products company’s stock valued at $467,000 after buying an additional 10 shares in the last quarter. Optas LLC boosted its holdings in Parker-Hannifin by 3.1% in the first quarter. Optas LLC now owns 370 shares of the industrial products company’s stock worth $331,000 after acquiring an additional 11 shares in the last quarter. Moneta Group Investment Advisors LLC boosted its holdings in Parker-Hannifin by 1.8% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 614 shares of the industrial products company’s stock worth $540,000 after acquiring an additional 11 shares in the last quarter. Inspire Advisors LLC grew its stake in shares of Parker-Hannifin by 1.2% in the fourth quarter. Inspire Advisors LLC now owns 917 shares of the industrial products company’s stock worth $807,000 after acquiring an additional 11 shares during the last quarter. Finally, RFG Advisory LLC grew its stake in shares of Parker-Hannifin by 0.3% in the first quarter. RFG Advisory LLC now owns 3,740 shares of the industrial products company’s stock worth $3,348,000 after acquiring an additional 12 shares during the last quarter. 82.44% of the stock is owned by institutional investors.

Parker-Hannifin Stock Up 2.4%

PH stock opened at $1,040.76 on Thursday. The stock has a market capitalization of $131.19 billion, a P/E ratio of 36.53, a P/E/G ratio of 2.65 and a beta of 1.12. 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 1-year low of $715.37 and a 1-year high of $1,099.94. The business has a fifty day moving average price of $989.76 and a 200-day moving average price of $949.93.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings data on Thursday, August 6th. The industrial products company reported $9.27 EPS 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 for the quarter, compared to analysts’ expectations of $5.57 billion. During the same period last year, the firm posted $7.69 earnings per share. Parker-Hannifin’s revenue 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 forecast that Parker-Hannifin Corporation will post 34.93 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on PH shares. Wall Street Zen lowered Parker-Hannifin from a “buy” rating to a “hold” rating in a research report on Saturday, August 22nd. Stifel Nicolaus set a $1,075.00 price objective on shares of Parker-Hannifin in a research report on Friday, August 7th. BNP Paribas Exane restated an “outperform” rating and set a $1,220.00 price objective (up from $1,090.00) on shares of Parker-Hannifin in a research note on Friday, August 7th. UBS Group lifted their target price on shares of Parker-Hannifin from $1,092.00 to $1,250.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $1,214.00 target price on shares of Parker-Hannifin in a research note on Friday, August 7th. Seventeen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Parker-Hannifin has a consensus 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.