33,787 Shares in Parker-Hannifin Corporation $PH Bought by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Parker-Hannifin Corporation (NYSE:PH) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 33,787 shares of the industrial products company’s stock, valued at approximately $32,281,000.

Other large investors also recently made changes to their positions in the company. Polaris Financial Partners purchased a new position in shares of Parker-Hannifin in the 3rd quarter valued at $26,000. Latitude Advisors LLC acquired a new position in shares of Parker-Hannifin during the 3rd quarter valued at $27,000. Archer Investment Corp acquired a new position in shares of Parker-Hannifin during the 2nd quarter valued at $28,000. Pension & Wealth Management Advisors Inc. purchased a new stake in Parker-Hannifin during the 3rd quarter worth $30,000. Finally, NFSG Corp boosted its position in Parker-Hannifin by 94.4% during the 1st quarter. NFSG Corp now owns 35 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 17 shares during the period. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Trading Up 3.2%

PH opened at $928.57 on Tuesday. The firm’s 50 day moving average is $954.69 and its 200-day moving average is $949.68. Parker-Hannifin Corporation has a 52-week low of $755.10 and a 52-week high of $1,099.94. The company has a quick ratio of 0.74, a current ratio of 1.26 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $117.10 billion, a P/E ratio of 32.59, a P/E/G ratio of 2.54 and a beta of 1.12.

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

Parker-Hannifin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 4th. Shareholders of record on Friday, November 13th will be issued a $2.00 dividend. The ex-dividend date is Friday, November 13th. This represents a $8.00 dividend on an annualized basis and a yield of 0.9%. Parker-Hannifin’s payout ratio is currently 28.08%.

Insider Buying and Selling

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 completion of the transaction, the vice president directly owned 4,399 shares of the company’s stock, valued at $4,577,027.53. This represents a 12.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.35% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PH. JPMorgan Chase & Co. lowered their price target on Parker-Hannifin from $1,140.00 to $1,131.00 and set an “overweight” rating for the company in a report on Friday, October 9th. Sanford C. Bernstein boosted their price objective on Parker-Hannifin from $1,037.00 to $1,218.00 and gave the stock an “outperform” rating in a research note on Friday, August 14th. Wall Street Zen upgraded Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Saturday, October 24th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $1,214.00 target price (up from $1,068.00) on shares of Parker-Hannifin in a research report on Friday, August 7th. Finally, UBS Group set a $950.00 target price on Parker-Hannifin in a research note on Wednesday, October 14th. Eighteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, Parker-Hannifin presently has an average rating of “Moderate Buy” and an average price target 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.