Sumitomo Mitsui Trust Group Inc. Sells 15,565 Shares of Parker-Hannifin Corporation $PH

Sumitomo Mitsui Trust Group Inc. trimmed its stake in shares of Parker-Hannifin Corporation (NYSE:PH) by 5.5% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 268,694 shares of the industrial products company’s stock after selling 15,565 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.21% of Parker-Hannifin worth $240,546,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Brighton Jones LLC grew its holdings in shares of Parker-Hannifin by 5.9% in the fourth quarter. Brighton Jones LLC now owns 1,808 shares of the industrial products company’s stock worth $1,150,000 after acquiring an additional 101 shares during the period. Bison Wealth LLC lifted its holdings in Parker-Hannifin by 4.5% in the fourth quarter. Bison Wealth LLC now owns 749 shares of the industrial products company’s stock valued at $476,000 after acquiring an additional 32 shares during the period. Empowered Funds LLC boosted its position in Parker-Hannifin by 0.5% in the first quarter. Empowered Funds LLC now owns 2,894 shares of the industrial products company’s stock worth $1,759,000 after purchasing an additional 15 shares during the last quarter. Acadian Asset Management LLC boosted its position in Parker-Hannifin by 26.2% in the first quarter. Acadian Asset Management LLC now owns 799 shares of the industrial products company’s stock worth $484,000 after purchasing an additional 166 shares during the last quarter. Finally, Sivia Capital Partners LLC grew its stake in shares of Parker-Hannifin by 3.6% during the 2nd quarter. Sivia Capital Partners LLC now owns 430 shares of the industrial products company’s stock valued at $300,000 after purchasing an additional 15 shares during the period. Institutional investors own 82.44% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Parker-Hannifin in a research report on Tuesday, April 21st. Wells Fargo & Company decreased 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. Sanford C. Bernstein started coverage on shares of Parker-Hannifin in a research note on Tuesday, June 9th. They set an “outperform” rating and a $1,026.00 price target on the stock. JPMorgan Chase & Co. cut 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. Finally, Mizuho set a $1,050.00 price objective on Parker-Hannifin in a research note on Friday, May 1st. One investment 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. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $1,026.86.

Parker-Hannifin Stock Performance

PH opened at $948.73 on Friday. The company has a 50 day simple moving average of $905.99 and a two-hundred day simple moving average of $930.46. 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 cap of $119.63 billion, a P/E ratio of 35.00, a PEG ratio of 2.51 and a beta of 1.11. Parker-Hannifin Corporation has a 1-year low of $692.02 and a 1-year high of $1,034.96.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data 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. 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 for the quarter, compared to the consensus estimate of $5.40 billion. During the same period last year, the firm earned $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. Equities analysts forecast that Parker-Hannifin Corporation will post 31.26 earnings per share for the current fiscal year.

Parker-Hannifin Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Friday, May 8th were issued a dividend of $2.00 per share. This is a boost from Parker-Hannifin’s previous quarterly dividend of $1.80. This represents a $8.00 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Friday, May 8th. Parker-Hannifin’s payout ratio is 29.51%.

Parker-Hannifin 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.