Parker-Hannifin Corporation $PH Shares Purchased by Bank of New York Mellon Corp

Bank of New York Mellon Corp boosted its stake in Parker-Hannifin Corporation (NYSE:PH) by 0.2% in the 4th quarter, Holdings Channel reports. The firm owned 755,952 shares of the industrial products company’s stock after purchasing an additional 1,293 shares during the period. Bank of New York Mellon Corp’s holdings in Parker-Hannifin were worth $664,452,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in PH. Norges Bank acquired a new stake in Parker-Hannifin in the 4th quarter valued at approximately $1,756,230,000. Eurizon Capital SGR S.p.A. purchased a new position in Parker-Hannifin in the 4th quarter valued at approximately $185,532,000. Capital World Investors boosted its position in Parker-Hannifin by 7.0% in the 3rd quarter. Capital World Investors now owns 2,584,141 shares of the industrial products company’s stock valued at $1,959,166,000 after buying an additional 169,073 shares during the period. PFA Pension Forsikringsaktieselskab purchased a new position in Parker-Hannifin in the 4th quarter valued at approximately $104,040,000. Finally, California Public Employees Retirement System boosted its position in Parker-Hannifin by 51.3% in the 3rd quarter. California Public Employees Retirement System now owns 336,247 shares of the industrial products company’s stock valued at $254,926,000 after buying an additional 114,008 shares during the period. Institutional investors and hedge funds own 82.44% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on PH shares. Morgan Stanley raised their price target on shares of Parker-Hannifin from $945.00 to $1,038.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 24th. Weiss Ratings reissued a “buy (b)” rating on shares of Parker-Hannifin in a research report on Tuesday, April 21st. Evercore set a $1,064.00 price target on shares of Parker-Hannifin in a research report on Monday, May 11th. Citigroup raised their price target on shares of Parker-Hannifin from $1,137.00 to $1,141.00 and gave the company a “buy” rating in a research report on Friday, May 1st. Finally, BMO Capital Markets started coverage on shares of Parker-Hannifin in a research report on Friday, March 27th. They issued an “outperform” rating and a $1,090.00 price target for the company. Seventeen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average 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 stock has a market cap of $107.43 billion, a P/E ratio of 31.43, a price-to-earnings-growth ratio of 2.43 and a beta of 1.14. The company has a fifty day simple moving average of $909.11 and a 200-day simple moving average of $915.80. Parker-Hannifin Corporation has a 12-month low of $646.51 and a 12-month high of $1,034.96. The company has a current ratio of 1.13, a quick ratio of 0.66 and a debt-to-equity ratio of 0.46.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings data on Thursday, April 30th. The industrial products company reported $8.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.84 by $0.33. The business 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 company’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same period in the previous year, the company earned $6.94 EPS. Parker-Hannifin has set its FY 2026 guidance at 31.200-31.200 EPS. Equities analysts expect that Parker-Hannifin Corporation will post 31.26 EPS for the current fiscal year.

Parker-Hannifin Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 5th. Stockholders of record on Friday, May 8th will be given a dividend of $2.00 per share. This is an increase from Parker-Hannifin’s previous quarterly dividend of $1.80. The ex-dividend date of this dividend is Friday, May 8th. This represents a $8.00 annualized dividend and a dividend yield of 0.9%. Parker-Hannifin’s dividend payout ratio is presently 29.51%.

Parker-Hannifin Company 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.