Parker-Hannifin Corporation $PH Shares Bought by Bank Pictet & Cie Europe AG

Bank Pictet & Cie Europe AG raised its stake in Parker-Hannifin Corporation (NYSE:PH) by 82.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 35,277 shares of the industrial products company’s stock after buying 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 quarter.

Several other large investors also recently added to or reduced their stakes in the stock. 55 North Private Wealth LLC increased its stake in shares of Parker-Hannifin by 8.3% in the 3rd quarter. 55 North Private Wealth LLC now owns 367 shares of the industrial products company’s stock worth $351,000 after acquiring an additional 28 shares during the last quarter. Ballast Inc. boosted its position in shares of Parker-Hannifin by 38.2% during the 3rd quarter. Ballast Inc. now owns 398 shares of the industrial products company’s stock valued at $380,000 after acquiring an additional 110 shares during the last quarter. Net Worth Advisory Group boosted its position in shares of Parker-Hannifin by 2.5% during the 3rd quarter. Net Worth Advisory Group now owns 866 shares of the industrial products company’s stock valued at $836,000 after acquiring an additional 21 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in shares of Parker-Hannifin by 1.1% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 31,594 shares of the industrial products company’s stock valued at $30,186,000 after acquiring an additional 349 shares during the last quarter. Finally, CWA Asset Management Group LLC grew its holdings in shares of Parker-Hannifin by 80.8% in the third quarter. CWA Asset Management Group LLC now owns 1,405 shares of the industrial products company’s stock valued at $1,343,000 after purchasing an additional 628 shares during the period. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Parker-Hannifin

In other news, VP Berend Bracht sold 602 shares of Parker-Hannifin stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $1,040.47, for a total value of $626,362.94. Following the completion of the sale, the vice president directly owned 4,399 shares of the company’s stock, valued at approximately $4,577,027.53. The trade was a 12.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.35% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Robert W. Baird boosted their target price on shares of Parker-Hannifin from $1,050.00 to $1,275.00 in a report on Friday, August 7th. Sanford C. Bernstein increased their price target on shares of Parker-Hannifin from $1,037.00 to $1,218.00 and gave the company an “outperform” rating in a research note on Friday, August 14th. Evercore raised their price target on shares of Parker-Hannifin from $1,064.00 to $1,217.00 and gave the stock an “outperform” rating in a report on Tuesday, August 11th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Parker-Hannifin in a research report on Thursday. Finally, Stifel Nicolaus set a $1,002.00 price objective on Parker-Hannifin in a report on Monday. Eighteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $1,146.35.

Parker-Hannifin Trading Down 3.3%

Shares of Parker-Hannifin stock traded down $31.89 on Tuesday, reaching $934.37. The company had a trading volume of 238,582 shares, compared to its average volume of 682,250. The firm’s 50 day moving average price is $978.29 and its two-hundred day moving average price is $951.14. 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 Corporation has a 52-week low of $737.70 and a 52-week high of $1,099.94. The firm has a market cap of $117.83 billion, a PE ratio of 32.70, a PEG ratio of 2.69 and a beta of 1.12.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, August 6th. The industrial products company reported $9.27 earnings per share for the quarter, topping analysts’ consensus estimates of $8.31 by $0.96. Parker-Hannifin had a net margin of 16.97% and a return on equity of 28.48%. The firm had revenue of $5.75 billion during the quarter, compared to analysts’ expectations of $5.57 billion. During the same quarter last year, the company posted $7.69 EPS. The firm’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. Sell-side analysts predict that Parker-Hannifin Corporation will post 35.60 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 given a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Monday, August 31st. Parker-Hannifin’s dividend payout ratio (DPR) is currently 28.08%.

Parker-Hannifin Company Profile

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.