Alley Investment Management Company LLC Cuts Stake in Parker-Hannifin Corporation $PH

Alley Investment Management Company LLC lessened its stake in shares of Parker-Hannifin Corporation (NYSE:PH) by 5.6% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 18,185 shares of the industrial products company’s stock after selling 1,078 shares during the quarter. Parker-Hannifin makes up about 2.0% of Alley Investment Management Company LLC’s portfolio, making the stock its 19th largest position. Alley Investment Management Company LLC’s holdings in Parker-Hannifin were worth $16,280,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Texas Capital Bancshares Inc TX bought a new position in shares of Parker-Hannifin during the 3rd quarter worth $25,000. HFM Investment Advisors LLC raised its stake in Parker-Hannifin by 1,000.0% in the 4th quarter. HFM Investment Advisors LLC now owns 33 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 30 shares during the period. Lloyd Advisory Services LLC. purchased a new stake in Parker-Hannifin during the fourth quarter valued at about $31,000. Mowery & Schoenfeld Wealth Management LLC lifted its holdings in Parker-Hannifin by 80.0% during the fourth quarter. Mowery & Schoenfeld Wealth Management LLC now owns 36 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 16 shares during the last quarter. Finally, First Command Advisory Services Inc. boosted its position in Parker-Hannifin by 1,133.3% during the fourth quarter. First Command Advisory Services Inc. now owns 37 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 34 shares during the period. Institutional investors own 82.44% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Stifel Nicolaus lifted their target price on shares of Parker-Hannifin from $965.00 to $1,000.00 and gave the stock a “hold” rating in a research note on Friday, April 10th. Truist Financial set a $1,147.00 price objective on shares of Parker-Hannifin in a research note on Friday, May 1st. Wells Fargo & Company dropped their target price on Parker-Hannifin from $980.00 to $950.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 26th. Citigroup reaffirmed a “buy” rating on shares of Parker-Hannifin in a report on Monday, June 8th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Parker-Hannifin in a research report on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $1,021.05.

Parker-Hannifin Stock Performance

Parker-Hannifin stock opened at $978.15 on Wednesday. The firm’s fifty day moving average price is $908.04 and its 200-day moving average price is $926.47. 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 stock has a market cap of $123.33 billion, a P/E ratio of 36.08, a price-to-earnings-growth ratio of 2.80 and a beta of 1.14. Parker-Hannifin Corporation has a fifty-two week low of $691.47 and a fifty-two week high of $1,034.96.

Parker-Hannifin (NYSE:PH) last announced its earnings results 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 company had revenue of $5.49 billion during the quarter, compared to analyst estimates of $5.40 billion. Parker-Hannifin had a net margin of 16.58% and a return on equity of 27.97%. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period in the previous year, the business earned $6.94 earnings per share. Parker-Hannifin has set its FY 2026 guidance at 31.200-31.200 EPS. On average, equities research analysts expect that Parker-Hannifin Corporation will post 31.26 earnings per share for the current fiscal year.

Parker-Hannifin Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Friday, May 8th were issued a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Friday, May 8th. This is an increase from Parker-Hannifin’s previous quarterly dividend of $1.80. Parker-Hannifin’s dividend payout ratio (DPR) 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.