Royal Bank of Canada Has $961.35 Million Position in Parker-Hannifin Corporation $PH

Royal Bank of Canada reduced its stake in shares of Parker-Hannifin Corporation (NYSE:PH) by 7.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,093,733 shares of the industrial products company’s stock after selling 82,353 shares during the quarter. Royal Bank of Canada owned 0.87% of Parker-Hannifin worth $961,347,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Parker-Hannifin by 0.3% during 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 acquiring an additional 33,606 shares in the last quarter. Bank of America Corp DE raised its stake in Parker-Hannifin by 0.6% during the third quarter. Bank of America Corp DE now owns 3,904,591 shares of the industrial products company’s stock worth $2,960,266,000 after acquiring an additional 22,706 shares in the last quarter. Capital World Investors raised its stake in 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 in the last quarter. Ameriprise Financial Inc. raised its stake in Parker-Hannifin by 0.6% during the third quarter. Ameriprise Financial Inc. now owns 2,207,996 shares of the industrial products company’s stock worth $1,674,132,000 after acquiring an additional 13,309 shares in the last quarter. Finally, Morgan Stanley raised its stake in Parker-Hannifin by 1.1% during the fourth quarter. Morgan Stanley now owns 2,133,044 shares of the industrial products company’s stock worth $1,874,862,000 after acquiring an additional 22,367 shares in the last quarter. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PH has been the subject of several recent analyst reports. BMO Capital Markets initiated coverage on Parker-Hannifin in a research note on Friday, March 27th. They set an “outperform” rating and a $1,090.00 price objective for the company. Evercore set a $1,064.00 target price on Parker-Hannifin in a report on Monday, May 11th. Wall Street Zen lowered Parker-Hannifin from a “buy” rating to a “hold” rating in a research note on Saturday, June 6th. Citigroup restated a “buy” rating on shares of Parker-Hannifin in a research note on Monday, June 8th. Finally, Wells Fargo & Company lowered their target price on Parker-Hannifin from $980.00 to $950.00 and set an “overweight” rating for the company in a research note on Tuesday, May 26th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,021.05.

Parker-Hannifin Stock Performance

Shares of NYSE:PH opened at $937.82 on Wednesday. Parker-Hannifin Corporation has a twelve month low of $646.51 and a twelve month high of $1,034.96. The firm has a market cap of $118.25 billion, a PE ratio of 34.59, a price-to-earnings-growth ratio of 2.67 and a beta of 1.14. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.66 and a current ratio of 1.13. The business has a fifty day moving average of $908.24 and a 200-day moving average of $919.87.

Parker-Hannifin (NYSE:PH) last announced its earnings results on Thursday, April 30th. The industrial products company reported $8.17 earnings per share for the quarter, beating analysts’ consensus estimates of $7.84 by $0.33. Parker-Hannifin had a return on equity of 27.97% and a net margin of 16.58%.The company had revenue of $5.49 billion during the quarter, compared to analyst estimates of $5.40 billion. During the same period last year, the company posted $6.94 earnings per share. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. Parker-Hannifin has set its FY 2026 guidance at 31.200-31.200 EPS. On average, equities research analysts predict that Parker-Hannifin Corporation will post 31.26 EPS for the current fiscal year.

Parker-Hannifin Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, May 8th were issued a $2.00 dividend. This is a positive change from Parker-Hannifin’s previous quarterly dividend of $1.80. This represents a $8.00 annualized dividend and a yield of 0.9%. The ex-dividend date was Friday, May 8th. Parker-Hannifin’s dividend payout ratio (DPR) is 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.