Parker-Hannifin Corporation $PH Shares Bought by Wealthfront Advisers LLC

Wealthfront Advisers LLC lifted its position in shares of Parker-Hannifin Corporation (NYSE:PH) by 9.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,632 shares of the industrial products company’s stock after acquiring an additional 1,506 shares during the quarter. Wealthfront Advisers LLC’s holdings in Parker-Hannifin were worth $15,785,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. HFM Investment Advisors LLC raised its holdings in 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 worth $29,000 after purchasing an additional 30 shares during the last quarter. Texas Capital Bancshares Inc TX acquired a new stake in Parker-Hannifin in the third quarter valued at $25,000. Lloyd Advisory Services LLC. purchased a new position in shares of Parker-Hannifin in the fourth quarter valued at $31,000. NFSG Corp increased its position in shares of Parker-Hannifin by 94.4% in the first quarter. NFSG Corp now owns 35 shares of the industrial products company’s stock valued at $31,000 after buying an additional 17 shares in the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC raised its stake in shares of Parker-Hannifin by 80.0% during the 4th quarter. Mowery & Schoenfeld Wealth Management LLC now owns 36 shares of the industrial products company’s stock worth $32,000 after buying an additional 16 shares during the last quarter. 82.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Wells Fargo & Company dropped their target price on shares of Parker-Hannifin from $980.00 to $950.00 and set an “overweight” rating for the company in a report on Tuesday, May 26th. Weiss Ratings reiterated a “buy (b)” rating on shares of Parker-Hannifin in a research report on Tuesday, April 21st. Stifel Nicolaus raised their price objective on shares of Parker-Hannifin from $965.00 to $1,000.00 and gave the stock a “hold” rating in a research note on Friday, April 10th. Wall Street Zen downgraded Parker-Hannifin from a “buy” rating to a “hold” rating in a research report on Saturday, June 6th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $1,037.00 target price on shares of Parker-Hannifin in a research note on Thursday. Eighteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $1,027.38.

Parker-Hannifin Trading Up 0.6%

Parker-Hannifin stock opened at $958.28 on Friday. The stock has a 50-day moving average price of $911.34 and a 200 day moving average price of $932.91. Parker-Hannifin Corporation has a 52 week low of $692.02 and a 52 week high of $1,034.96. The stock has a market cap of $120.83 billion, a PE ratio of 35.35, a P/E/G ratio of 2.54 and a beta of 1.11. The company has a current ratio of 1.13, a quick ratio of 0.66 and a debt-to-equity ratio of 0.46.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, April 30th. The industrial products company reported $8.17 earnings per share (EPS) for the quarter, beating 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 company had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.40 billion. During the same period in the prior year, the firm earned $6.94 EPS. The firm’s quarterly 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 research analysts predict that Parker-Hannifin Corporation will post 31.26 earnings per share for the current fiscal year.

Parker-Hannifin Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, May 8th were paid a dividend of $2.00 per share. The ex-dividend date of this dividend was Friday, May 8th. This is a positive change from Parker-Hannifin’s previous quarterly dividend of $1.80. This represents a $8.00 annualized dividend and a dividend yield of 0.8%. Parker-Hannifin’s payout ratio is currently 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.