iA Global Asset Management Inc. Has $14.61 Million Stock Position in Parker-Hannifin Corporation $PH

iA Global Asset Management Inc. reduced its holdings in Parker-Hannifin Corporation (NYSE:PH) by 21.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,318 shares of the industrial products company’s stock after selling 4,582 shares during the period. iA Global Asset Management Inc.’s holdings in Parker-Hannifin were worth $14,609,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of PH. MQS Management LLC bought a new position in Parker-Hannifin during the first quarter worth $585,000. Premier Path Wealth Partners LLC raised its stake in Parker-Hannifin by 18.8% during the 1st quarter. Premier Path Wealth Partners LLC now owns 2,788 shares of the industrial products company’s stock valued at $2,496,000 after purchasing an additional 441 shares during the last quarter. SJS Investment Consulting Inc. boosted its holdings in Parker-Hannifin by 13.3% in the 1st quarter. SJS Investment Consulting Inc. now owns 119 shares of the industrial products company’s stock valued at $107,000 after purchasing an additional 14 shares during the period. Intrua Financial LLC boosted its holdings in Parker-Hannifin by 8.0% in the 1st quarter. Intrua Financial LLC now owns 757 shares of the industrial products company’s stock valued at $677,000 after purchasing an additional 56 shares during the period. Finally, Simmons Bank grew its position in Parker-Hannifin by 5.8% in the 1st quarter. Simmons Bank now owns 6,047 shares of the industrial products company’s stock worth $5,413,000 after purchasing an additional 332 shares during the last quarter. 82.44% of the stock is owned by institutional investors.

Parker-Hannifin Price Performance

Shares of Parker-Hannifin stock opened at $978.15 on Wednesday. The firm 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. The firm’s 50-day simple moving average is $908.04 and its 200-day simple moving average is $926.47. Parker-Hannifin Corporation has a twelve month low of $691.47 and a twelve month 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.

Parker-Hannifin (NYSE:PH) last posted its quarterly 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 firm 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 company’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $6.94 earnings per share. Parker-Hannifin has set its FY 2026 guidance at 31.200-31.200 EPS. As a group, research analysts expect that Parker-Hannifin Corporation will post 31.26 EPS for the current fiscal year.

Parker-Hannifin Increases Dividend

The business also recently announced 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 of this dividend was Friday, May 8th. This is a boost from Parker-Hannifin’s previous quarterly dividend of $1.80. Parker-Hannifin’s payout ratio is currently 29.51%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. BMO Capital Markets assumed coverage on shares of 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 target on Parker-Hannifin in a research note on Friday, May 1st. 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. Wells Fargo & Company reduced their price objective on Parker-Hannifin from $980.00 to $950.00 and set an “overweight” rating for the company in a research report on Tuesday, May 26th. 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 stock. According to data from MarketBeat, Parker-Hannifin presently has an average rating of “Moderate Buy” and an average price target of $1,021.05.

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.