PDT Partners LLC Raises Stock Position in Parker-Hannifin Corporation $PH

PDT Partners LLC boosted its holdings in shares of Parker-Hannifin Corporation (NYSE:PH) by 94.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 17,120 shares of the industrial products company’s stock after purchasing an additional 8,300 shares during the quarter. Parker-Hannifin comprises 0.9% of PDT Partners LLC’s portfolio, making the stock its 13th biggest holding. PDT Partners LLC’s holdings in Parker-Hannifin were worth $16,745,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in PH. BlackRock Inc. acquired a new stake in Parker-Hannifin during the 2nd quarter worth $10,163,362,000. Norges Bank acquired a new stake in shares of Parker-Hannifin in the fourth quarter valued at about $1,756,230,000. Deutsche Bank AG purchased a new position in shares of Parker-Hannifin in the second quarter worth about $987,587,000. Bank of New York Mellon Corp purchased a new position in shares of Parker-Hannifin in the second quarter worth about $712,222,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Parker-Hannifin during the second quarter worth about $305,628,000. 82.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on PH. JPMorgan Chase & Co. cut their target price on Parker-Hannifin from $1,100.00 to $1,060.00 and set an “overweight” rating for the company in a research note on Thursday, May 7th. Truist Financial upped their price target on Parker-Hannifin from $1,269.00 to $1,358.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Citigroup raised their price objective on shares of Parker-Hannifin from $1,141.00 to $1,232.00 and gave the company a “buy” rating in a research note on Friday, August 7th. BNP Paribas Exane restated an “outperform” rating and issued a $1,220.00 price target (up from $1,090.00) on shares of Parker-Hannifin in a research note on Friday, August 7th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Parker-Hannifin in a research report on Friday, July 17th. Seventeen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $1,100.00.

Parker-Hannifin Stock Up 0.1%

Parker-Hannifin stock opened at $1,015.36 on Wednesday. Parker-Hannifin Corporation has a fifty-two week low of $715.37 and a fifty-two week high of $1,099.94. The firm has a market capitalization of $127.99 billion, a price-to-earnings ratio of 35.64, a price-to-earnings-growth ratio of 2.64 and a beta of 1.12. The stock’s fifty day moving average is $987.88 and its two-hundred day moving average is $949.41. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.74 and a current ratio of 1.26.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings results 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 for the quarter, compared to analyst estimates of $5.57 billion. During the same period in the prior year, the business earned $7.69 earnings per share. The company’s quarterly revenue was up 9.8% on a year-over-year basis. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. Analysts predict that Parker-Hannifin Corporation will post 34.93 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Monday, August 31st will be issued a dividend of $2.00 per share. The ex-dividend date is Monday, August 31st. This represents a $8.00 annualized dividend and a dividend yield of 0.8%. Parker-Hannifin’s dividend payout ratio (DPR) is 28.08%.

About Parker-Hannifin

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.