Fifth Third Bancorp boosted its position in shares of Parker-Hannifin Corporation (NYSE:PH – Free Report) by 25.0% in the 1st quarter, HoldingsChannel reports. The firm owned 188,806 shares of the industrial products company’s stock after buying an additional 37,740 shares during the period. Fifth Third Bancorp’s holdings in Parker-Hannifin were worth $169,027,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in Parker-Hannifin by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 11,142,535 shares of the industrial products company’s stock worth $9,793,843,000 after purchasing an additional 33,606 shares in the last quarter. Bank of America Corp DE boosted its position in Parker-Hannifin by 0.6% in the 4th quarter. Bank of America Corp DE now owns 3,926,896 shares of the industrial products company’s stock valued at $3,451,584,000 after buying an additional 22,305 shares during the last quarter. Capital World Investors raised its position in shares of Parker-Hannifin by 0.6% during the fourth quarter. Capital World Investors now owns 2,600,844 shares of the industrial products company’s stock worth $2,286,038,000 after acquiring an additional 16,703 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in Parker-Hannifin by 0.6% in the third quarter. Ameriprise Financial Inc. now owns 2,207,996 shares of the industrial products company’s stock valued at $1,674,132,000 after acquiring an additional 13,309 shares during the last quarter. Finally, Morgan Stanley raised its holdings in Parker-Hannifin by 1.1% during the 4th quarter. Morgan Stanley now owns 2,133,044 shares of the industrial products company’s stock worth $1,874,862,000 after purchasing an additional 22,367 shares during the last quarter. Institutional investors own 82.44% of the company’s stock.
Analyst Ratings Changes
PH has been the topic of a number of recent research reports. Stifel Nicolaus raised their price objective on shares of Parker-Hannifin from $965.00 to $1,000.00 and gave the company a “hold” rating in a research note on Friday, April 10th. Wells Fargo & Company cut their price target on shares of Parker-Hannifin from $980.00 to $950.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 26th. Truist Financial increased their target price on shares of Parker-Hannifin from $1,147.00 to $1,269.00 and gave the stock a “buy” rating in a report on Thursday, July 2nd. Citigroup reiterated a “buy” rating on shares of Parker-Hannifin in a report on Monday, June 8th. Finally, Sanford C. Bernstein assumed coverage on Parker-Hannifin in a report on Tuesday, June 9th. They set an “outperform” rating and a $1,026.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $1,026.86.
Parker-Hannifin Stock Up 1.2%
Shares of NYSE:PH traded up $11.79 during mid-day trading on Friday, reaching $960.96. 440,476 shares of the stock were exchanged, compared to its average volume of 586,866. The stock’s 50 day simple moving average is $906.28 and its 200-day simple moving average is $930.67. Parker-Hannifin Corporation has a one year low of $692.02 and a one year high of $1,034.96. The company has a market cap of $121.16 billion, a P/E ratio of 35.45, a P/E/G ratio of 2.57 and a beta of 1.11. The company has a quick ratio of 0.66, a current ratio of 1.13 and a debt-to-equity ratio of 0.46.
Parker-Hannifin (NYSE:PH – Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The industrial products company reported $8.17 earnings per share for the quarter, topping analysts’ consensus estimates of $7.84 by $0.33. The firm had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.40 billion. Parker-Hannifin had a return on equity of 27.97% and a net margin of 16.58%.The business’s revenue was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $6.94 EPS. Parker-Hannifin has set its FY 2026 guidance at 31.200-31.200 EPS. As a group, equities research analysts predict that Parker-Hannifin Corporation will post 31.26 EPS for the current year.
Parker-Hannifin Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, May 8th were given a $2.00 dividend. This is an increase from Parker-Hannifin’s previous quarterly dividend of $1.80. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Friday, May 8th. Parker-Hannifin’s dividend payout ratio (DPR) is presently 29.51%.
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.
Further Reading
- Five stocks we like better than Parker-Hannifin
- Microsoft Bets on In-House AI to Cut OpenAI and Anthropic Costs
- Delta Air Lines Lives Up to Its Claims: Shares Can Keep Climbing
- This Dividend ETF Choice Could Shape Your Income Strategy Through 2026
- Why “Big Short” Investor Michael Burry Sees Upside in Beaten-Down Sportbook Stocks
Want to see what other hedge funds are holding PH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Parker-Hannifin Corporation (NYSE:PH – Free Report).
Receive News & Ratings for Parker-Hannifin Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Parker-Hannifin and related companies with MarketBeat.com's FREE daily email newsletter.
