AMF Tjanstepension AB Sells 157,625 Shares of Parker-Hannifin Corporation $PH

AMF Tjanstepension AB decreased its position in Parker-Hannifin Corporation (NYSE:PH) by 30.3% in the 1st quarter, HoldingsChannel reports. The fund owned 362,514 shares of the industrial products company’s stock after selling 157,625 shares during the period. Parker-Hannifin makes up about 2.2% of AMF Tjanstepension AB’s investment portfolio, making the stock its 14th biggest holding. AMF Tjanstepension AB’s holdings in Parker-Hannifin were worth $324,537,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of PH. Fideuram Asset Management Ireland dac bought a new position in Parker-Hannifin in the fourth quarter worth $1,253,000. Truist Financial Corp increased its holdings in Parker-Hannifin by 2.7% in the 4th quarter. Truist Financial Corp now owns 174,852 shares of the industrial products company’s stock valued at $153,687,000 after buying an additional 4,673 shares during the period. Y.D. More Investments Ltd acquired a new position in shares of Parker-Hannifin in the 4th quarter valued at $3,800,000. BCS Wealth Management raised its stake in shares of Parker-Hannifin by 83.3% in the 4th quarter. BCS Wealth Management now owns 3,120 shares of the industrial products company’s stock valued at $2,742,000 after buying an additional 1,418 shares in the last quarter. Finally, Shepherd Street Advisors LLC bought a new position in shares of Parker-Hannifin during the 4th quarter worth about $1,736,000. Institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Price Performance

Shares of PH stock opened at $960.96 on Monday. Parker-Hannifin Corporation has a 52 week low of $692.02 and a 52 week high of $1,034.96. The stock has a market capitalization of $121.17 billion, a PE ratio of 35.45, a PEG ratio of 2.57 and a beta of 1.11. 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’s fifty day moving average is $906.28 and its 200-day moving average is $930.98.

Parker-Hannifin (NYSE:PH) last issued 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. Parker-Hannifin had a net margin of 16.58% and a return on equity of 27.97%. The business had revenue of $5.49 billion for the quarter, compared to the consensus estimate of $5.40 billion. During the same quarter in the prior year, the company earned $6.94 EPS. The firm’s quarterly revenue was up 10.6% on a year-over-year basis. Parker-Hannifin has set its FY 2026 guidance at 31.200-31.200 EPS. Equities 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 given a dividend of $2.00 per share. The ex-dividend date was Friday, May 8th. This is a positive change from Parker-Hannifin’s previous quarterly dividend of $1.80. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.8%. Parker-Hannifin’s dividend payout ratio (DPR) is currently 29.51%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Sanford C. Bernstein started coverage on shares of Parker-Hannifin in a research report on Tuesday, June 9th. They set an “outperform” rating and a $1,026.00 target price on the stock. Truist Financial raised their price target on shares of Parker-Hannifin from $1,147.00 to $1,269.00 and gave the stock a “buy” rating in a research note on Thursday, July 2nd. Mizuho set a $1,050.00 price target on shares of Parker-Hannifin in a research note on Friday, May 1st. Wells Fargo & Company lowered their price objective on Parker-Hannifin from $980.00 to $950.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 26th. Finally, Citigroup reiterated a “buy” rating on shares of Parker-Hannifin in a research note on Monday, June 8th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $1,026.86.

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.