CIBC Asset Management Inc Has $26.61 Million Stock Position in Parker-Hannifin Corporation $PH

CIBC Asset Management Inc lifted its stake in shares of Parker-Hannifin Corporation (NYSE:PH) by 66.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 30,270 shares of the industrial products company’s stock after purchasing an additional 12,074 shares during the quarter. CIBC Asset Management Inc’s holdings in Parker-Hannifin were worth $26,606,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Marble Wealth LLC acquired a new stake in shares of Parker-Hannifin during the 4th quarter worth $576,000. Palatine Hill Wealth Management LLC acquired a new stake in shares of Parker-Hannifin during the 4th quarter worth $302,000. Westpac Banking Corp lifted its position in shares of Parker-Hannifin by 7.6% during the 4th quarter. Westpac Banking Corp now owns 918 shares of the industrial products company’s stock worth $807,000 after buying an additional 65 shares during the last quarter. Kesler Norman & Wride LLC lifted its position in shares of Parker-Hannifin by 3.1% during the 4th quarter. Kesler Norman & Wride LLC now owns 9,758 shares of the industrial products company’s stock worth $8,577,000 after buying an additional 290 shares during the last quarter. Finally, Fiduciary Family Office LLC lifted its position in shares of Parker-Hannifin by 0.5% during the 4th quarter. Fiduciary Family Office LLC now owns 2,397 shares of the industrial products company’s stock worth $2,107,000 after buying an additional 13 shares during the last quarter. 82.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Wall Street Zen upgraded Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Wednesday, February 4th. BMO Capital Markets assumed coverage on Parker-Hannifin in a research report on Friday, March 27th. They set an “outperform” rating and a $1,090.00 price objective for the company. Truist Financial set a $1,147.00 price objective on Parker-Hannifin in a research report on Friday, May 1st. Evercore set a $1,064.00 price objective on Parker-Hannifin in a research report on Monday, May 11th. Finally, JPMorgan Chase & Co. dropped their price objective on Parker-Hannifin from $1,100.00 to $1,060.00 and set an “overweight” rating for the company in a research report on Thursday, May 7th. Seventeen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,020.80.

Parker-Hannifin Price Performance

Parker-Hannifin stock opened at $852.05 on Thursday. The company has a current ratio of 1.13, a quick ratio of 0.66 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $107.43 billion, a PE ratio of 31.43, a P/E/G ratio of 2.43 and a beta of 1.14. Parker-Hannifin Corporation has a 12 month low of $646.51 and a 12 month high of $1,034.96. The stock has a 50-day moving average price of $909.11 and a two-hundred day moving average price of $915.80.

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

Parker-Hannifin Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 5th. Stockholders of record on Friday, May 8th will be paid a $2.00 dividend. The ex-dividend date of this dividend is Friday, May 8th. This is a positive change from Parker-Hannifin’s previous quarterly dividend of $1.80. This represents a $8.00 annualized dividend and a dividend yield of 0.9%. Parker-Hannifin’s 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.