Parker-Hannifin Corporation $PH Stock Acquired by Bank Pictet & Cie Europe AG

Bank Pictet & Cie Europe AG grew its holdings in Parker-Hannifin Corporation (NYSE:PH) by 82.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 35,277 shares of the industrial products company’s stock after purchasing an additional 15,945 shares during the quarter. Bank Pictet & Cie Europe AG’s holdings in Parker-Hannifin were worth $33,704,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. E Fund Management Co. Ltd. increased its stake 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 worth $467,000 after buying an additional 10 shares during the period. Optas LLC boosted its position in Parker-Hannifin by 3.1% in the 1st quarter. Optas LLC now owns 370 shares of the industrial products company’s stock valued at $331,000 after buying an additional 11 shares during the period. 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 in the last quarter. Allen Capital Group LLC grew its stake in shares of Parker-Hannifin by 4.8% in the first quarter. Allen Capital Group LLC now owns 264 shares of the industrial products company’s stock worth $236,000 after acquiring an additional 12 shares in the last quarter. Finally, Doliver Advisors LP grew its stake in shares of Parker-Hannifin by 0.6% in the second quarter. Doliver Advisors LP now owns 2,011 shares of the industrial products company’s stock worth $1,967,000 after acquiring an additional 12 shares in the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Insider Transactions at Parker-Hannifin

In other Parker-Hannifin news, VP Berend Bracht sold 602 shares of the stock in a transaction that occurred on 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 $4,577,027.53. This represents a 12.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.35% of the stock is owned by company insiders.

Parker-Hannifin Stock Down 3.3%

Shares of PH stock traded down $31.89 on Tuesday, reaching $934.37. 238,582 shares of the stock were exchanged, compared to its average volume of 682,250. The company has a market capitalization of $117.83 billion, a price-to-earnings ratio of 32.70, a PEG ratio of 2.69 and a beta of 1.12. The business’s 50 day moving average price is $978.29 and its 200 day moving average price is $951.14. 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 Corporation has a twelve month low of $737.70 and a twelve month high of $1,099.94.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings results on Thursday, August 6th. The industrial products company reported $9.27 earnings per share for the quarter, beating analysts’ consensus estimates of $8.31 by $0.96. The company had revenue of $5.75 billion for the quarter, compared to analysts’ expectations of $5.57 billion. Parker-Hannifin had a return on equity of 28.48% and a net margin of 16.97%. Parker-Hannifin’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period last year, the firm earned $7.69 earnings per share. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. As a group, sell-side analysts expect that Parker-Hannifin Corporation will post 35.60 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

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

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Robert W. Baird increased their price objective on Parker-Hannifin from $1,050.00 to $1,275.00 in a research note on Friday, August 7th. BMO Capital Markets reissued an “outperform” rating and set a $1,214.00 target price (up from $1,068.00) on shares of Parker-Hannifin in a research note on Friday, August 7th. Jefferies Financial Group upped their price target on Parker-Hannifin from $1,100.00 to $1,275.00 in a report on Friday, August 7th. Evercore increased their price target on Parker-Hannifin from $1,064.00 to $1,217.00 and gave the company an “outperform” rating in a research report on Tuesday, August 11th. Finally, The Goldman Sachs Group lifted their price objective on Parker-Hannifin from $1,071.00 to $1,165.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Eighteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $1,146.35.

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.