Lansforsakringar Fondforvaltning AB publ Sells 6,993 Shares of Parker-Hannifin Corporation $PH

Lansforsakringar Fondforvaltning AB publ trimmed its stake in shares of Parker-Hannifin Corporation (NYSE:PH) by 15.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 39,762 shares of the industrial products company’s stock after selling 6,993 shares during the quarter. Lansforsakringar Fondforvaltning AB publ’s holdings in Parker-Hannifin were worth $35,596,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Fideuram Asset Management Ireland dac bought a new stake in shares of Parker-Hannifin during the fourth quarter worth $1,253,000. Truist Financial Corp raised its holdings 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 buying an additional 4,673 shares during the last quarter. Y.D. More Investments Ltd bought a new position in shares of Parker-Hannifin in the fourth quarter valued at about $3,800,000. BCS Wealth Management lifted its position in Parker-Hannifin by 83.3% during the 4th quarter. BCS Wealth Management now owns 3,120 shares of the industrial products company’s stock worth $2,742,000 after buying an additional 1,418 shares in the last quarter. Finally, Shepherd Street Advisors LLC acquired a new position in Parker-Hannifin during the 4th quarter worth about $1,736,000. 82.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PH has been the subject of several research reports. JPMorgan Chase & Co. lowered their price objective on shares of Parker-Hannifin from $1,100.00 to $1,060.00 and set an “overweight” rating for the company in a research report on Thursday, May 7th. Citigroup reiterated a “buy” rating on shares of Parker-Hannifin in a research report on Monday, June 8th. Truist Financial set a $1,147.00 price target on shares of Parker-Hannifin in a research note on Friday, May 1st. Stifel Nicolaus raised their price target on shares of Parker-Hannifin from $965.00 to $1,000.00 and gave the company a “hold” rating in a report on Friday, April 10th. Finally, Wells Fargo & Company dropped their price objective on shares of Parker-Hannifin from $980.00 to $950.00 and set an “overweight” rating for the company in a research report 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 issued a Hold rating to the stock. Based on data from MarketBeat, Parker-Hannifin currently has an average rating of “Moderate Buy” and an average price target of $1,021.05.

Parker-Hannifin Price Performance

PH opened at $963.90 on Tuesday. The company has a fifty day moving average price of $908.27 and a two-hundred day moving average price of $925.85. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.66 and a current ratio of 1.13. Parker-Hannifin Corporation has a 52 week low of $691.47 and a 52 week high of $1,034.96. The firm has a market capitalization of $121.54 billion, a PE ratio of 35.55, a P/E/G ratio of 2.82 and a beta of 1.14.

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

Parker-Hannifin Increases Dividend

The company also recently announced 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 of this dividend was Friday, May 8th. This is a boost from Parker-Hannifin’s previous quarterly dividend of $1.80. This represents a $8.00 annualized dividend and a yield of 0.8%. Parker-Hannifin’s payout ratio is currently 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.