Panagora Asset Management Inc. Sells 4,181 Shares of Parker-Hannifin Corporation $PH

Panagora Asset Management Inc. lowered its position in shares of Parker-Hannifin Corporation (NYSE:PH) by 2.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 153,964 shares of the industrial products company’s stock after selling 4,181 shares during the period. Panagora Asset Management Inc. owned about 0.12% of Parker-Hannifin worth $135,328,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of PH. South Plains Financial Inc. purchased a new position in Parker-Hannifin during the 4th quarter valued at about $55,000. MML Investors Services LLC increased its holdings in Parker-Hannifin by 13.8% during the 4th quarter. MML Investors Services LLC now owns 61,704 shares of the industrial products company’s stock valued at $54,236,000 after purchasing an additional 7,463 shares during the period. Mill Creek Capital Advisors LLC purchased a new position in Parker-Hannifin during the 4th quarter valued at about $204,000. Evernest Financial Advisors LLC increased its holdings in Parker-Hannifin by 6.8% during the 4th quarter. Evernest Financial Advisors LLC now owns 624 shares of the industrial products company’s stock valued at $548,000 after purchasing an additional 40 shares during the period. Finally, Focus Partners Wealth increased its holdings in Parker-Hannifin by 1,535.3% during the 4th quarter. Focus Partners Wealth now owns 221,010 shares of the industrial products company’s stock valued at $194,106,000 after purchasing an additional 207,495 shares during the period. Institutional investors own 82.44% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Parker-Hannifin in a report on Tuesday, April 21st. Wells Fargo & Company reduced their target price on Parker-Hannifin from $980.00 to $950.00 and set an “overweight” rating on the stock in a report on Tuesday, May 26th. Truist Financial set a $1,147.00 target price on Parker-Hannifin in a report on Friday, May 1st. BMO Capital Markets assumed coverage on Parker-Hannifin in a report on Friday, March 27th. They set an “outperform” rating and a $1,090.00 target price on the stock. Finally, Citigroup reiterated a “buy” rating on shares of Parker-Hannifin in a report on Monday, June 8th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $1,021.05.

Parker-Hannifin Price Performance

NYSE PH opened at $901.89 on Monday. The business’s fifty day moving average price is $907.43 and its 200-day moving average price is $918.86. The stock has a market capitalization of $113.72 billion, a price-to-earnings ratio of 33.27, a PEG ratio of 2.63 and a beta of 1.14. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.13 and a quick ratio of 0.66. Parker-Hannifin Corporation has a 1-year low of $646.51 and a 1-year high of $1,034.96.

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

Parker-Hannifin Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Friday, May 8th were issued a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 0.9%. 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. 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.