AIA Group Ltd Acquires Shares of 10,564 Parker-Hannifin Corporation $PH

AIA Group Ltd purchased a new stake in Parker-Hannifin Corporation (NYSE:PH) during the first quarter, according to its most recent filing with the SEC. The fund purchased 10,564 shares of the industrial products company’s stock, valued at approximately $9,457,000.

Several other hedge funds have also bought and sold shares of the stock. JFS Wealth Advisors LLC grew its holdings in Parker-Hannifin by 6.8% during the 4th quarter. JFS Wealth Advisors LLC now owns 173 shares of the industrial products company’s stock valued at $152,000 after buying an additional 11 shares in the last quarter. Avion Wealth raised its holdings in shares of Parker-Hannifin by 35.5% during the 4th quarter. Avion Wealth now owns 42 shares of the industrial products company’s stock worth $36,000 after acquiring an additional 11 shares in the last quarter. Optas LLC grew its holdings in shares of Parker-Hannifin by 3.1% in the first quarter. Optas LLC now owns 370 shares of the industrial products company’s stock valued at $331,000 after purchasing an additional 11 shares in the last quarter. Moneta Group Investment Advisors LLC grew its holdings in shares of Parker-Hannifin by 1.8% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 614 shares of the industrial products company’s stock valued at $540,000 after purchasing an additional 11 shares in the last quarter. Finally, Inspire Advisors LLC increased its position in Parker-Hannifin by 1.2% in the fourth quarter. Inspire Advisors LLC now owns 917 shares of the industrial products company’s stock worth $807,000 after purchasing an additional 11 shares during the last quarter. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Trading Down 0.5%

NYSE:PH opened at $953.13 on Friday. The firm has a 50-day simple moving average of $912.84 and a 200-day simple moving average of $933.05. Parker-Hannifin Corporation has a one year low of $692.02 and a one year high of $1,034.96. The firm has a market cap of $120.18 billion, a P/E ratio of 35.16, a P/E/G ratio of 2.54 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.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings data on Thursday, April 30th. The industrial products company reported $8.17 earnings per share for the quarter, topping analysts’ consensus estimates of $7.84 by $0.33. Parker-Hannifin had a return on equity of 27.97% and a net margin of 16.58%.The firm had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $5.40 billion. During the same period in the prior year, the business posted $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 analysts anticipate that Parker-Hannifin Corporation will post 31.26 EPS for the current fiscal year.

Parker-Hannifin Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Friday, May 8th were issued a $2.00 dividend. This is an increase 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%. The ex-dividend date of this dividend was Friday, May 8th. Parker-Hannifin’s dividend payout ratio is 29.51%.

Analyst Upgrades and Downgrades

PH has been the subject of a number of recent research reports. BMO Capital Markets initiated coverage on shares of Parker-Hannifin in a research note on Friday, March 27th. They issued an “outperform” rating and a $1,090.00 price objective for the company. Stifel Nicolaus upped their target price on shares of Parker-Hannifin from $965.00 to $1,000.00 and gave the company a “hold” rating in a research report on Friday, April 10th. JPMorgan Chase & Co. lowered their price target on shares of 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 dropped their price target 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, Wall Street Zen cut Parker-Hannifin from a “buy” rating to a “hold” rating in a research note on Saturday, June 6th. Eighteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $1,027.38.

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.