Covea Finance Has $23.38 Million Position in Parker-Hannifin Corporation $PH

Covea Finance lessened its holdings in Parker-Hannifin Corporation (NYSE:PH) by 7.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 30,841 shares of the industrial products company’s stock after selling 2,526 shares during the period. Covea Finance’s holdings in Parker-Hannifin were worth $23,382,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Wealth Preservation Advisors LLC bought a new position in shares of Parker-Hannifin in the first quarter valued at about $27,000. Saudi Central Bank bought a new stake in shares of Parker-Hannifin during the 1st quarter worth about $31,000. Interchange Capital Partners LLC acquired a new position in Parker-Hannifin in the 2nd quarter valued at about $31,000. State of Wyoming bought a new position in Parker-Hannifin in the 2nd quarter valued at about $38,000. Finally, Princeton Global Asset Management LLC raised its holdings in Parker-Hannifin by 56.1% in the 2nd quarter. Princeton Global Asset Management LLC now owns 64 shares of the industrial products company’s stock valued at $45,000 after acquiring an additional 23 shares during the period. 82.44% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on PH shares. Barclays upped their target price on Parker-Hannifin from $906.00 to $950.00 and gave the company an “overweight” rating in a research report on Thursday, December 4th. Truist Financial upped their price objective on Parker-Hannifin from $977.00 to $1,097.00 and gave the company a “buy” rating in a report on Thursday, December 18th. Mizuho increased their price objective on Parker-Hannifin from $800.00 to $825.00 and gave the stock an “outperform” rating in a research report on Friday, October 17th. Deutsche Bank Aktiengesellschaft cut shares of Parker-Hannifin from a “buy” rating to a “hold” rating and set a $809.00 target price for the company. in a research report on Thursday, September 4th. Finally, Susquehanna restated a “positive” rating and issued a $1,000.00 price target on shares of Parker-Hannifin in a research note on Wednesday, November 12th. Fifteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $911.65.

Parker-Hannifin Stock Performance

PH opened at $887.76 on Friday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.61 and a current ratio of 1.07. Parker-Hannifin Corporation has a 52-week low of $488.45 and a 52-week high of $908.35. The firm has a market cap of $112.03 billion, a P/E ratio of 31.63, a price-to-earnings-growth ratio of 3.09 and a beta of 1.25. The business’s fifty day moving average is $833.08 and its 200-day moving average is $763.89.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, November 6th. The industrial products company reported $7.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.62 by $0.60. Parker-Hannifin had a net margin of 18.17% and a return on equity of 27.23%. The firm had revenue of $5.08 billion for the quarter, compared to the consensus estimate of $4.94 billion. During the same period in the prior year, the company posted $6.20 earnings per share. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. Parker-Hannifin has set its FY 2026 guidance at 29.600-30.400 EPS and its FY 2026 guidance at 29.600-30.400 EPS. Sell-side analysts expect that Parker-Hannifin Corporation will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 5th. Investors of record on Friday, November 7th were paid a $1.80 dividend. This represents a $7.20 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Friday, November 7th. Parker-Hannifin’s dividend payout ratio (DPR) is 25.65%.

Insider Buying and Selling at Parker-Hannifin

In other news, COO Andrew D. Ross sold 2,488 shares of the business’s stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $894.81, for a total transaction of $2,226,287.28. Following the completion of the transaction, the chief operating officer owned 13,120 shares of the company’s stock, valued at approximately $11,739,907.20. The trade was a 15.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Berend Bracht sold 3,507 shares of the company’s stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $864.58, for a total value of $3,032,082.06. Following the sale, the vice president owned 2,580 shares of the company’s stock, valued at approximately $2,230,616.40. This represents a 57.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 7,432 shares of company stock worth $6,484,116 over the last three months. Corporate insiders own 0.32% of the company’s stock.

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.