Empirical Financial Services LLC d.b.a. Empirical Wealth Management Grows Stock Position in Parker-Hannifin Corporation $PH

Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its holdings in Parker-Hannifin Corporation (NYSE:PH) by 14.7% during the first quarter, Holdings Channel.com reports. The fund owned 4,829 shares of the industrial products company’s stock after acquiring an additional 618 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Parker-Hannifin were worth $4,323,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Parker-Hannifin by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 11,142,535 shares of the industrial products company’s stock valued at $9,793,843,000 after purchasing an additional 33,606 shares during the last quarter. Bank of America Corp DE increased its stake in shares of Parker-Hannifin by 0.6% during the 4th quarter. Bank of America Corp DE now owns 3,926,896 shares of the industrial products company’s stock worth $3,451,584,000 after purchasing an additional 22,305 shares in the last quarter. Capital World Investors raised its position in shares of Parker-Hannifin by 0.6% during 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 purchasing an additional 16,703 shares during the last quarter. Morgan Stanley raised its position in shares of Parker-Hannifin by 1.1% during the 4th quarter. Morgan Stanley now owns 2,133,044 shares of the industrial products company’s stock worth $1,874,862,000 after purchasing an additional 22,367 shares during the last quarter. Finally, Norges Bank purchased a new stake in Parker-Hannifin in the 4th quarter valued at approximately $1,756,230,000. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Stifel Nicolaus increased their target price on Parker-Hannifin from $965.00 to $1,000.00 and gave the company a “hold” rating in a report on Friday, April 10th. JPMorgan Chase & Co. cut their price target on Parker-Hannifin from $1,100.00 to $1,060.00 and set an “overweight” rating for the company in a report on Thursday, May 7th. Weiss Ratings restated a “buy (b)” rating on shares of Parker-Hannifin in a research report on Tuesday, April 21st. Wall Street Zen lowered Parker-Hannifin from a “buy” rating to a “hold” rating in a research note on Saturday, June 6th. Finally, Citigroup reiterated a “buy” rating on shares of Parker-Hannifin in a research report on Monday, June 8th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,026.86.

Parker-Hannifin Price Performance

Parker-Hannifin stock opened at $964.63 on Wednesday. Parker-Hannifin Corporation has a 1 year low of $692.02 and a 1 year high of $1,034.96. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.66 and a current ratio of 1.13. The firm has a 50 day moving average price of $908.94 and a 200 day moving average price of $931.97. The company has a market cap of $121.63 billion, a price-to-earnings ratio of 35.58, a PEG ratio of 2.54 and a beta of 1.11.

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

Parker-Hannifin Increases Dividend

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

About Parker-Hannifin

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.