Parker-Hannifin Corporation $PH Stock Acquired by Artemis Investment Management LLP

Artemis Investment Management LLP grew its holdings in shares of Parker-Hannifin Corporation (NYSE:PH) by 2.5% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 103,130 shares of the industrial products company’s stock after buying an additional 2,507 shares during the quarter. Artemis Investment Management LLP’s holdings in Parker-Hannifin were worth $98,532,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of PH. Proficio Capital Partners LLC raised its position in shares of Parker-Hannifin by 234.0% in the 2nd quarter. Proficio Capital Partners LLC now owns 1,954 shares of the industrial products company’s stock worth $1,911,000 after acquiring an additional 1,369 shares in the last quarter. BNP Paribas boosted its position in Parker-Hannifin by 4.1% during the second quarter. BNP Paribas now owns 54,208 shares of the industrial products company’s stock valued at $52,717,000 after purchasing an additional 2,121 shares in the last quarter. Integrated Wealth Concepts LLC grew its stake in Parker-Hannifin by 86.1% in the second quarter. Integrated Wealth Concepts LLC now owns 3,503 shares of the industrial products company’s stock valued at $3,426,000 after purchasing an additional 1,621 shares during the last quarter. Rakuten Investment Management Inc. bought a new position in Parker-Hannifin in the second quarter worth about $19,883,000. Finally, Wealth Enhancement Advisory Services LLC lifted its position in shares of Parker-Hannifin by 6.8% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 46,177 shares of the industrial products company’s stock valued at $45,167,000 after buying an additional 2,955 shares during the last quarter. 82.44% of the stock is owned by institutional investors.

Insider Activity

In related news, VP Berend Bracht sold 602 shares of Parker-Hannifin stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $1,040.47, for a total transaction of $626,362.94. Following the completion of the sale, the vice president owned 4,399 shares of the company’s stock, valued at $4,577,027.53. The trade was a 12.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.35% of the stock is currently owned by insiders.

Parker-Hannifin Stock Performance

Shares of NYSE:PH traded down $10.94 on Thursday, hitting $941.85. 208,522 shares of the company were exchanged, compared to its average volume of 688,838. The firm has a market capitalization of $118.78 billion, a P/E ratio of 33.09, a price-to-earnings-growth ratio of 3.02 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 1-year low of $715.37 and a 1-year high of $1,099.94. The stock’s 50 day moving average price is $987.62 and its 200 day moving average price is $947.74.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, August 6th. The industrial products company reported $9.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.31 by $0.96. Parker-Hannifin had a return on equity of 28.48% and a net margin of 16.97%.The firm had revenue of $5.75 billion for the quarter, compared to the consensus estimate of $5.57 billion. During the same period in the prior year, the firm earned $7.69 EPS. The firm’s 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 35.02 EPS for the current year.

Parker-Hannifin Announces Dividend

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

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Truist Financial raised their price target on shares of Parker-Hannifin from $1,269.00 to $1,358.00 and gave the company a “buy” rating in a report on Friday, August 7th. Weiss Ratings reissued a “buy (b)” rating on shares of Parker-Hannifin in a research report on Friday, July 17th. UBS Group raised their target price on shares of Parker-Hannifin from $1,092.00 to $1,250.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Wall Street Zen lowered shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a report on Saturday, August 22nd. Finally, Sanford C. Bernstein upped their price target on Parker-Hannifin from $1,037.00 to $1,218.00 and gave the stock an “outperform” rating in a research report on Friday, August 14th. Sixteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Parker-Hannifin presently has an average rating of “Moderate Buy” and a consensus price target of $1,119.55.

About Parker-Hannifin

Parker-Hannifin Corporation is a diversified manufacturer of motion and control technologies. The company develops and produces components and systems that manage the movement and control of liquids, gases and mechanical force across industrial, mobile and aerospace applications.

Its product portfolio includes hydraulic and pneumatic systems, electromechanical technologies, filtration and fluid-management equipment, seals and shielding products, connectors, pumps, valves, sensors, thermal-management solutions and related engineered systems.