Parker-Hannifin Corporation $PH Holdings Raised by UNIVEST FINANCIAL Corp

UNIVEST FINANCIAL Corp increased its stake in shares of Parker-Hannifin Corporation (NYSE:PH) by 100.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,726 shares of the industrial products company’s stock after buying an additional 6,367 shares during the quarter. UNIVEST FINANCIAL Corp’s holdings in Parker-Hannifin were worth $12,159,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new stake in shares of Parker-Hannifin during the 2nd quarter valued at $10,163,362,000. State Street Corp grew its holdings in shares of Parker-Hannifin by 0.5% during the 2nd quarter. State Street Corp now owns 9,385,389 shares of the industrial products company’s stock worth $9,180,037,000 after purchasing an additional 42,548 shares in the last quarter. Bank of America Corp DE acquired a new stake in shares of Parker-Hannifin during the 2nd quarter worth $3,273,507,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Parker-Hannifin by 2.5% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,032,942 shares of the industrial products company’s stock worth $1,010,341,000 after purchasing an additional 25,167 shares in the last quarter. Finally, Deutsche Bank AG bought a new position in shares of Parker-Hannifin in the second quarter worth $987,587,000. Institutional investors own 82.44% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on PH. Argus boosted their price target on Parker-Hannifin from $1,030.00 to $1,200.00 and gave the company a “buy” rating in a research note on Monday, August 10th. BNP Paribas Exane increased their price objective on shares of Parker-Hannifin from $1,220.00 to $1,270.00 and gave the stock an “outperform” rating in a research note on Friday, September 18th. Zacks Research upgraded shares of Parker-Hannifin from a “hold” rating to a “strong-buy” rating in a research note on Tuesday. Susquehanna raised their target price on shares of Parker-Hannifin from $1,100.00 to $1,250.00 and gave the company a “positive” rating in a report on Friday, August 7th. Finally, Truist Financial boosted their target price on shares of Parker-Hannifin from $1,269.00 to $1,358.00 and gave the company a “buy” rating in a research report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, Parker-Hannifin currently has an average rating of “Moderate Buy” and a consensus target price of $1,146.35.

Parker-Hannifin Stock Up 0.8%

NYSE PH opened at $972.53 on Thursday. The business has a fifty day moving average price of $945.68 and a two-hundred day moving average price of $949.65. The stock has a market capitalization of $122.64 billion, a PE ratio of 33.40, a PEG ratio of 2.28 and a beta of 1.15. Parker-Hannifin Corporation has a fifty-two week low of $806.22 and a fifty-two week high of $1,099.94. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.94 and a quick ratio of 0.55.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings results on Thursday, November 5th. The industrial products company reported $8.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.21 by $0.69. Parker-Hannifin had a return on equity of 28.80% and a net margin of 16.62%. The company had revenue of $5.99 billion for the quarter, compared to analyst estimates of $5.81 billion. During the same quarter last year, the company posted $7.22 EPS. The company’s revenue for the quarter was up 17.9% compared to the same quarter last year. Parker-Hannifin has set its FY 2027 guidance at 36.450-37.250 EPS. Equities analysts expect that Parker-Hannifin Corporation will post 37.07 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 4th. Shareholders of record on Friday, November 13th will be paid a dividend of $2.00 per share. The ex-dividend date of this dividend is Friday, November 13th. This represents a $8.00 annualized dividend and a yield of 0.8%. Parker-Hannifin’s payout ratio is presently 27.47%.

Insider Buying and Selling

In other news, VP Berend Bracht sold 602 shares of the 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 owned 4,399 shares of the company’s stock, valued at approximately $4,577,027.53. This represents a 12.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.35% of the company’s stock.

About Parker-Hannifin

Parker-Hannifin is a global manufacturer of motion and control technologies. Its products include hydraulic and pneumatic systems, fluid connectors, filtration and sealing products, electromechanical components, and systems for aerospace and climate control applications. The company serves customers across industries such as aerospace, manufacturing, transportation, energy, and life sciences. Its operations span markets around the world, with businesses organized around industrial and aerospace products and services.