Cibc World Market Inc. Sells 2,766 Shares of Parker-Hannifin Corporation $PH

Cibc World Market Inc. reduced its stake in shares of Parker-Hannifin Corporation (NYSE:PH) by 19.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,559 shares of the industrial products company’s stock after selling 2,766 shares during the period. Cibc World Market Inc.’s holdings in Parker-Hannifin were worth $11,306,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Texas Capital Bancshares Inc TX acquired a new stake in Parker-Hannifin in the third quarter worth $25,000. HFM Investment Advisors LLC grew its position 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 valued at $29,000 after buying an additional 30 shares during the period. Lloyd Advisory Services LLC. purchased a new stake in Parker-Hannifin in the fourth quarter worth $31,000. NFSG Corp boosted its position in Parker-Hannifin by 94.4% during the first quarter. NFSG Corp now owns 35 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 17 shares during the period. Finally, First Command Advisory Services Inc. grew its stake in Parker-Hannifin by 1,133.3% in the 4th quarter. First Command Advisory Services Inc. now owns 37 shares of the industrial products company’s stock valued at $33,000 after buying an additional 34 shares in the last quarter. Institutional investors own 82.44% of the company’s stock.

Analyst Ratings Changes

PH has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lowered their price target on shares of Parker-Hannifin from $1,100.00 to $1,060.00 and set an “overweight” rating on the stock in a report on Thursday, May 7th. Citigroup raised their target price on shares of Parker-Hannifin from $1,141.00 to $1,232.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Wells Fargo & Company lowered their price target on Parker-Hannifin from $980.00 to $950.00 and set an “overweight” rating for the company in a research report on Tuesday, May 26th. Wall Street Zen cut shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Sanford C. Bernstein boosted their target price on shares of Parker-Hannifin from $1,037.00 to $1,218.00 and gave the company an “outperform” rating in a report on Friday, August 14th. Seventeen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $1,100.00.

Parker-Hannifin Stock Up 1.3%

PH stock opened at $1,014.87 on Tuesday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.74 and a current ratio of 1.26. The company has a market cap of $127.96 billion, a price-to-earnings ratio of 35.62, a P/E/G ratio of 2.61 and a beta of 1.12. The business’s 50-day moving average is $986.33 and its two-hundred day moving average is $949.08. Parker-Hannifin Corporation has a fifty-two week low of $715.37 and a fifty-two week high of $1,099.94.

Parker-Hannifin (NYSE:PH) last announced its earnings results on Thursday, August 6th. The industrial products company reported $9.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.31 by $0.96. Parker-Hannifin had a net margin of 16.97% and a return on equity of 28.48%. The company had revenue of $5.75 billion during the quarter, compared to analyst estimates of $5.57 billion. During the same period in the previous year, the business posted $7.69 earnings per share. The firm’s quarterly revenue was up 9.8% compared to the same quarter last year. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. As a group, analysts forecast that Parker-Hannifin Corporation will post 34.93 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Monday, August 31st will be issued a $2.00 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $8.00 annualized dividend and a yield of 0.8%. Parker-Hannifin’s dividend payout ratio is currently 28.08%.

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.