Parker-Hannifin Corporation $PH Position Cut by Wesbanco Bank Inc.

Wesbanco Bank Inc. reduced its holdings in Parker-Hannifin Corporation (NYSE:PH) by 6.7% during the 1st quarter, Holdings Channel reports. The fund owned 27,101 shares of the industrial products company’s stock after selling 1,959 shares during the quarter. Wesbanco Bank Inc.’s holdings in Parker-Hannifin were worth $24,262,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the business. Texas Capital Bancshares Inc TX bought a new position in shares of Parker-Hannifin in the third quarter worth $25,000. HFM Investment Advisors LLC raised its stake in shares of Parker-Hannifin by 1,000.0% during the fourth quarter. HFM Investment Advisors LLC now owns 33 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 30 shares in the last quarter. Lloyd Advisory Services LLC. acquired a new stake in Parker-Hannifin in the fourth quarter worth about $31,000. Ameriflex Group Inc. lifted its holdings in Parker-Hannifin by 366.7% in the third quarter. Ameriflex Group Inc. now owns 42 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 33 shares during the period. Finally, Mowery & Schoenfeld Wealth Management LLC grew its position in Parker-Hannifin by 80.0% in the 4th quarter. Mowery & Schoenfeld Wealth Management LLC now owns 36 shares of the industrial products company’s stock valued at $32,000 after buying an additional 16 shares in the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Stock Down 2.2%

PH stock opened at $967.92 on Friday. Parker-Hannifin Corporation has a 52-week low of $691.47 and a 52-week high of $1,034.96. The company’s 50 day simple moving average is $908.10 and its 200-day simple moving average is $924.81. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.13 and a quick ratio of 0.66. The firm has a market capitalization of $122.05 billion, a P/E ratio of 35.70, a P/E/G ratio of 2.88 and a beta of 1.14.

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

Parker-Hannifin Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Friday, May 8th were paid a $2.00 dividend. The ex-dividend date was Friday, May 8th. This represents a $8.00 annualized dividend and a yield of 0.8%. This is a boost from Parker-Hannifin’s previous quarterly dividend of $1.80. Parker-Hannifin’s dividend payout ratio (DPR) is currently 29.51%.

Analysts Set New Price Targets

PH has been the topic of several research analyst reports. Mizuho set a $1,050.00 target price on shares of Parker-Hannifin in a research note on Friday, May 1st. Evercore set a $1,064.00 price objective on shares of Parker-Hannifin in a report on Monday, May 11th. Wells Fargo & Company dropped their target price on Parker-Hannifin from $980.00 to $950.00 and set an “overweight” rating on the stock in a report on Tuesday, May 26th. BMO Capital Markets initiated coverage on Parker-Hannifin in a research report on Friday, March 27th. They issued an “outperform” rating and a $1,090.00 target price for the company. Finally, Citigroup reaffirmed a “buy” rating on shares of Parker-Hannifin in a research note on Monday, June 8th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $1,021.05.

Parker-Hannifin Company 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.