Corient Private Wealth LP Reduces Holdings in Parker-Hannifin Corporation $PH

Corient Private Wealth LP trimmed its stake in shares of Parker-Hannifin Corporation (NYSE:PH) by 16.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 175,005 shares of the industrial products company’s stock after selling 34,573 shares during the quarter. Corient Private Wealth LP owned approximately 0.14% of Parker-Hannifin worth $171,176,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Fideuram Asset Management Ireland dac bought a new stake in Parker-Hannifin during the 4th quarter valued at $1,253,000. Truist Financial Corp increased its position in shares of Parker-Hannifin by 2.7% in the fourth quarter. Truist Financial Corp now owns 174,852 shares of the industrial products company’s stock valued at $153,687,000 after acquiring an additional 4,673 shares during the period. Shepherd Street Advisors LLC bought a new position in shares of Parker-Hannifin during the fourth quarter valued at about $1,736,000. Jefferies Financial Group Inc. bought a new position in shares of Parker-Hannifin during the fourth quarter valued at about $11,434,000. Finally, Horizon Investments LLC boosted its holdings in shares of Parker-Hannifin by 78.8% during the fourth quarter. Horizon Investments LLC now owns 8,829 shares of the industrial products company’s stock worth $7,760,000 after purchasing an additional 3,892 shares during the period. Institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Price Performance

Shares of NYSE PH opened at $1,040.76 on Thursday. Parker-Hannifin Corporation has a 1 year low of $715.37 and a 1 year high of $1,099.94. The stock has a market capitalization of $131.19 billion, a P/E ratio of 36.53, a P/E/G ratio of 2.65 and a beta of 1.12. The company’s 50-day moving average is $989.76 and its 200 day moving average is $949.93. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.26 and a quick ratio of 0.74.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings data on Thursday, August 6th. The industrial products company reported $9.27 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $5.57 billion. During the same period last year, the business posted $7.69 earnings per share. Parker-Hannifin’s quarterly revenue was up 9.8% compared to the same quarter last year. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. On average, sell-side analysts expect that Parker-Hannifin Corporation will post 34.93 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The firm also recently announced 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. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Monday, August 31st. Parker-Hannifin’s payout ratio is 28.08%.

Wall Street Analysts Forecast Growth

PH has been the topic of several recent analyst reports. Weiss Ratings reissued a “buy (b)” rating on shares of Parker-Hannifin in a research note on Friday, July 17th. BNP Paribas Exane reiterated an “outperform” rating and issued a $1,220.00 price objective (up from $1,090.00) on shares of Parker-Hannifin in a report on Friday, August 7th. KeyCorp lifted their price objective on Parker-Hannifin from $1,100.00 to $1,210.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. JPMorgan Chase & Co. reduced their target price on Parker-Hannifin from $1,100.00 to $1,060.00 and set an “overweight” rating on the stock in a research note on Thursday, May 7th. Finally, Truist Financial upped their target price on Parker-Hannifin from $1,269.00 to $1,358.00 and gave the company a “buy” rating in a report on Friday, August 7th. Seventeen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,100.00.

Parker-Hannifin Profile

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.