SouthState Bank Corp Grows Holdings in Parker-Hannifin Corporation $PH

SouthState Bank Corp grew its stake in Parker-Hannifin Corporation (NYSE:PH) by 1.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,834 shares of the industrial products company’s stock after buying an additional 685 shares during the period. Parker-Hannifin makes up about 1.4% of SouthState Bank Corp’s holdings, making the stock its 14th biggest holding. SouthState Bank Corp’s holdings in Parker-Hannifin were worth $31,497,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. grew its stake in Parker-Hannifin by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 11,142,535 shares of the industrial products company’s stock worth $9,793,843,000 after buying an additional 33,606 shares in the last quarter. Bank of America Corp DE grew its stake in Parker-Hannifin by 0.6% in the 3rd quarter. Bank of America Corp DE now owns 3,904,591 shares of the industrial products company’s stock worth $2,960,266,000 after buying an additional 22,706 shares in the last quarter. Capital World Investors grew its stake in Parker-Hannifin by 0.6% in the 4th quarter. Capital World Investors now owns 2,600,844 shares of the industrial products company’s stock worth $2,286,038,000 after buying an additional 16,703 shares in the last quarter. Ameriprise Financial Inc. grew its stake in Parker-Hannifin by 0.6% in the 3rd quarter. Ameriprise Financial Inc. now owns 2,207,996 shares of the industrial products company’s stock worth $1,674,132,000 after buying an additional 13,309 shares in the last quarter. Finally, Norges Bank purchased a new position in Parker-Hannifin in the 4th quarter worth approximately $1,756,230,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PH. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Parker-Hannifin in a research note on Tuesday, April 21st. Evercore set a $1,064.00 price objective on shares of Parker-Hannifin in a research note on Monday, May 11th. 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 note on Thursday, May 7th. Truist Financial set a $1,147.00 price objective on shares of Parker-Hannifin in a research note on Friday, May 1st. Finally, Wall Street Zen cut shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a research note on Saturday. Seventeen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Parker-Hannifin currently has an average rating of “Moderate Buy” and an average price target of $1,020.80.

Parker-Hannifin Price Performance

Shares of Parker-Hannifin stock opened at $883.20 on Friday. Parker-Hannifin Corporation has a 52-week low of $646.51 and a 52-week high of $1,034.96. The stock has a market capitalization of $111.36 billion, a price-to-earnings ratio of 32.58, a price-to-earnings-growth ratio of 2.57 and a beta of 1.14. The company has a fifty day moving average of $907.35 and a 200-day moving average of $915.87. 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 (NYSE:PH) last announced its quarterly earnings data 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. 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 firm’s revenue was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $6.94 EPS. Parker-Hannifin has set its FY 2026 guidance at 31.200-31.200 EPS. Equities research analysts expect that Parker-Hannifin Corporation will post 31.26 EPS for the current year.

Parker-Hannifin Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Friday, May 8th were given a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Friday, May 8th. This is an increase from Parker-Hannifin’s previous quarterly dividend of $1.80. Parker-Hannifin’s dividend 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.