6,400 Parker-Hannifin Corporation $PH Shares Purchased by Payden & Rygel

Payden & Rygel raised its holdings in shares of Parker-Hannifin Corporation (NYSE:PH) by 93.0% in the 3rd quarter, Holdings Channel.com reports. The fund owned 13,280 shares of the industrial products company’s stock after buying an additional 6,400 shares during the period. Payden & Rygel’s holdings in Parker-Hannifin were worth $12,688,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. BlackRock Inc. bought a new stake in shares of Parker-Hannifin in the second quarter worth $10,163,362,000. Bank of America Corp DE acquired a new position in Parker-Hannifin during the second quarter worth $3,273,507,000. Deutsche Bank AG bought a new position in Parker-Hannifin in the second quarter valued at $987,587,000. Bank of New York Mellon Corp bought a new position in Parker-Hannifin in the second quarter valued at $712,222,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Parker-Hannifin in the 2nd quarter valued at $305,628,000. 82.44% of the stock is owned by institutional investors.

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 stock was sold at an average price of $1,040.47, for a total value of $626,362.94. Following the sale, the vice president owned 4,399 shares in the company, valued at approximately $4,577,027.53. The trade was a 12.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.35% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on PH. BNP Paribas Exane upped their target price on Parker-Hannifin from $1,220.00 to $1,270.00 and gave the stock an “outperform” rating in a report on Friday, September 18th. Wall Street Zen raised Parker-Hannifin from a “hold” rating to a “buy” rating in a report on Saturday, October 24th. UBS Group set a $950.00 price objective on shares of Parker-Hannifin in a research report on Wednesday, October 14th. Sanford C. Bernstein upped their price objective on shares of Parker-Hannifin from $1,037.00 to $1,218.00 and gave the company an “outperform” rating in a report on Friday, August 14th. Finally, Mizuho set a $1,200.00 price objective on shares of Parker-Hannifin in a research report on Thursday, October 15th. Eighteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $1,146.35.

Parker-Hannifin Price Performance

Shares of NYSE:PH opened at $898.73 on Friday. The firm has a 50 day moving average of $956.18 and a 200-day moving average of $949.73. The stock has a market capitalization of $113.34 billion, a PE ratio of 28.74, a PEG ratio of 2.59 and a beta of 1.12. 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 12 month low of $755.10 and a 12 month high of $1,099.94.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings results 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. The company 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 firm’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $7.69 EPS. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. On average, equities research analysts predict that Parker-Hannifin Corporation will post 35.72 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 4th. Investors of record on Friday, November 13th will be given a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Friday, November 13th. 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.