Waverly Advisors LLC Acquires 1,357 Shares of Parker-Hannifin Corporation $PH

Waverly Advisors LLC boosted its holdings in Parker-Hannifin Corporation (NYSE:PH) by 45.7% in the 2nd quarter, Holdings Channel.com reports. The firm owned 4,327 shares of the industrial products company’s stock after acquiring an additional 1,357 shares during the period. Waverly Advisors LLC’s holdings in Parker-Hannifin were worth $4,232,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Carmignac Gestion raised its position in shares of Parker-Hannifin by 191.4% in the second quarter. Carmignac Gestion now owns 103,265 shares of the industrial products company’s stock valued at $100,971,000 after buying an additional 67,832 shares in the last quarter. Empirical Finance LLC grew its position in Parker-Hannifin by 3.4% during the second quarter. Empirical Finance LLC now owns 4,477 shares of the industrial products company’s stock worth $4,379,000 after buying an additional 146 shares in the last quarter. Nykredit A S acquired a new stake in Parker-Hannifin during the second quarter worth approximately $46,549,000. Range Advisory LLC bought a new position in Parker-Hannifin during the 2nd quarter worth $226,000. Finally, Amundi raised its holdings in Parker-Hannifin by 2.9% in the 2nd quarter. Amundi now owns 642,969 shares of the industrial products company’s stock valued at $628,901,000 after acquiring an additional 17,910 shares in the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Insider Activity at Parker-Hannifin

In related news, VP Berend Bracht sold 602 shares of the firm’s stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $1,040.47, for a total transaction of $626,362.94. Following the sale, the vice president owned 4,399 shares of the company’s stock, valued at $4,577,027.53. This trade represents a 12.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.32% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Stifel Nicolaus set a $1,075.00 target price on Parker-Hannifin in a research report on Friday, August 7th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $1,214.00 price target on shares of Parker-Hannifin in a research note on Friday, August 7th. UBS Group upped their price objective on shares of Parker-Hannifin from $1,092.00 to $1,250.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Wall Street Zen downgraded shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a research note on Saturday, August 22nd. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Parker-Hannifin in a research report on Friday, July 17th. Seventeen equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $1,114.55.

Parker-Hannifin Trading Up 1.7%

Shares of Parker-Hannifin stock opened at $950.36 on Friday. The firm’s 50 day moving average is $989.63 and its 200 day moving average is $947.48. The firm has a market capitalization of $119.79 billion, a PE ratio of 33.36, a price-to-earnings-growth ratio of 2.54 and a beta of 1.13. Parker-Hannifin Corporation has a 1 year low of $715.37 and a 1 year high of $1,099.94. The company has a current ratio of 1.26, a quick ratio of 0.74 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 EPS for the quarter, beating the consensus estimate of $8.31 by $0.96. Parker-Hannifin had a net margin of 16.97% and a return on equity of 28.48%. The business had revenue of $5.75 billion during the quarter, compared to the consensus estimate of $5.57 billion. During the same quarter in the prior year, the firm earned $7.69 EPS. The firm’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 research analysts forecast that Parker-Hannifin Corporation will post 35 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

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

About Parker-Hannifin

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.